Building on the VolPay Hub Ripple integration capability launched in October 2015, Volante’s new Ripple solution, available as a component of the VolPay Foundation payments development platform, offers the same functionality across any bank, treasury or payment platform.
Offering further choice for Volante’s clients and the wider market looking to take advantage of new and alternative payment mechanisms
Most traditional bank cross-border payment services are based on correspondent banking, which is slow, expensive, and opaque. Fortunately there are now a number of viable options for banks to rise to the challenge.
Consumers and businesses want better, faster cross-border payments options. Real-time 24×7 services are in demand everywhere, and cross-border is no exception. But traditional correspondent banking is slow, expensive and opaque. Banks must improve their cross-border services. Next-generation cross-border mechanisms–SWIFT gpi, Ripple, Visa B2B, Visa Direct, and others–are rapidly gaining traction.
The world of payments is changing rapidly. Real-time / instant payments, ISO 20022, and modern cross-border schemes are revolutionizing clearing and settlement. Open banking is creating new opportunities, and new competitors. With the Internet of Things, any connected device can be a customer experience channel. Banks must innovate to stay relevant in this new world.
Volante Open Banking An extensible platform for payment initiation, account access, and other API-based open banking services that can be deployed as an integrated stand-alone solution or co-exist with existing assets.
Real-time payments are here. The Clearing House RTP® network enables consumers and businesses to exchange funds immediately, at any time. This is a once-in-a-generation competitive differentiation opportunity for financial institutions. It’s all about value-added services. There are many strong use cases for RTP®, such as real-time integrated payables and bill payment using Request For Pay.
Open Banking is bigger than mere regulation. It’s true that regulations have provided the initial thrust toward open banking—PSD2 in Europe, the UK’s CMA9, and Mexico’s Fintech Law, among others. But customer demand and fierce competition are also driving open banking, even in countries without explicit mandates. Compliance isn’t enough.
There’s been quite a bit of confusion around the relationship between the FedNow Service and CBDCs — we’re here to clear the air.
In a recent webinar focused on the evolving US payments sector, we asked our panel of experts to highlight instant payments opportunities and use cases that they believe will be particularly impactful. Here are just a few that caught our attention.
Instant payments volumes are rapidly increasing in Europe. European consumers and businesses can now exchange funds immediately, at any time, using one of two pan-European networks, EBA Clearing RT1 and the ECB’s TIPS, whose governing council mandated all T2 participants to be reachable at the end of 2021. It’s all about connectivity.
A corporation’s cash cycle – which involves systems and processes ranging from procurement to payables, trade financing and reconciliation – is a useful barometer of its financial health.