Instant payments have arrived in Europe. European consumers and businesses can now exchange funds immediately, at any time, using one of two pan-European networks, EBA Clearing's RT1 and the ECB's TIPS, whose Governing Council has moved to mandate that all T2 participants be reachable in TIPS by the end of 2021.
It’s all about connectivity. There are many strong use cases for instant payments that can serve as the basis for monetizing value-added services. But to deliver these services, banks need to easily connect to TIPS and/or RT1, and develop new instant-payment customer experience solutions.
It's time for instant payments processing as a service in the cloud. In the past, adding a new payment scheme and enabling 24x7x365 real-time operation required high upfront costs and long integration projects. Volante's service eliminates the drawbacks of legacy approaches, allowing banks to join the instant payment revolution quickly and at low cost.
Payments Modernisation: The Cloud Imperative
Volante and SIA Partner To Boost Instant Payments In Europe
The partnership will allow banking and financial institutions to directly access EBA Clearing’s RT1 and ECB’s TIPS via Volante’s SEPA Instant Payments as a Service and SIAnet’s network infrastructure.
This Finextra webinar, "Has the ‘instant’ been taken out of instant payments adoption for corporate banks?" features Saxo Bank, SIA, and Volante discussing the latest trends in instant payments and the implications for corporate banks.
Volante SEPA Instant Payments As a Service
The only multi-network managed service solution for instant payments, providing end-to-end payment processing and network connectivity for both RT1 and TIPS, as a managed service in the cloud
- One solution for all instant payment needs
- Certified network connectivity for RT1 and TIPS via SIANet
- Easy to use UI, 360° view of payments
- Real-time dynamic dashboard and reporting on operational flows
- APIs for open banking and PSD2 compliance
Managed Service Features
- Cloud-managed, no hardware or software required
- Technical resources to maintain infrastructure
- Management of network connectivity gateways and components
- Standardized onboarding
- Ongoing service management and maintenance
Technology For Business Resilience
- Industry-first active-active-active deployment
- Real-time services always-on, 24x7x365
- Deploy compliance updates and new features without downtime
- Benchmarked to 46 million transactions per hour in the cloud
- ISO 27001:2013, SOC1, SOC2 certified
- Reduce TCO by nearly 40%
- Shift capex to opex, pay only for what you use
- Get onboarded fast - 60 days or less
- Improve time to value for new services
- Extend to other available services such as SWIFT and bulk SEPA
The combination of the rich Volante Payments as a Service functionality and its flexibility to integrate the solution easily to our existing platforms without the need to build additional infrastructure, is an ideal value proposition
Volante Technologies...delivers significant advantages to clients who are looking to optimize the use of cloud technologies and benefit from a reduction in hardware and software costs.
We are ready to move fast in order to offer innovative payment and remittance services to our customers and we firmly believe that Volante is the right partner to enable us to do this.
The partnership with Volante is an important step in implementing SIA’s strategy to develop instant payments for banks and financial institutions in Europe
Interview with FIMBank and Volante Technologies about Payments as a Service
Head of Banking Operations at FIMBank, Loranne A Pace, speaks to Finextra at EBADay 2019 in Stockholm about payments as a service in the cloud.
Volante offers interoperable, extensible solutions for a variety of payments needs, all composed of business services from the VolPay ecosystem.
Corporate To Bank Automation
Onboard corporate customers faster and win new corporate clients by automating corporate to bank connectivity
Global Clearing Gateways
Accelerate expansion into new markets by connecting to over one hundred global clearing and settlement mechanisms
Modernize your payments infrastructure without replacing legacy payment systems
Unify all your payment processing and orchestration functions in a single service ecosystem
Open Banking and PSD2
Strengthen customer relationships through open banking business models, while complying with PSD2 and similar regulations
Expand your service portfolio with next-generation cross-border payments like SWIFT gpi, Ripple and more
Beneficiary Pay Link
Move from paper to digital by allowing corporations to pay any beneficiary, the way they want to be paid