Volante Technologies has unveiled its VolPay Foundation product, addressing specific industry challenges in message and data integration.
The foundation creates a platform for companies to build upon, offering quick and easy integration between newly implemented services and a company’s existing internal systems.
It can also be customised to suit individual clients’ needs, and additional elements are scheduled to be released later in the year.
The foundation includes a suite of tried and tested Volante tools such as code generation and validation, mapping tools and industry-standards payments plug-ins, however the new technology binds the products together to create a multi-faceted offering.
VolPay Foundation comes as a response to the common challenges faced by financial institutions, as identified by Volante after 15 years in the business.
Fiona Hamilton, vice president of Volante in Europe and Asia, said: “Whether it is buy-side firms, corporates or banks, anyone that does business is moving money. We have been working in multiple asset classes for many years, and as well as helping with payments, they can leverage our expertise in clearing and settlements, too. We can provide a consistent approach across all those asset classes.”
She added that 75 percent of the Volante development team is dedicated to quality control and testing, meaning that all products are stringently tested and “utterly reliable”.
“In the payments world, systems have to run 24 hours, 7 days, 365 days a year with no outage, so we have taken the approach to use state of the art java technology that is fully compliant with OSGi standard, allowing for hot swapping in non-stop operations.”
CEO of Volante Vijay Oddiraju said: “The payments world is moving and evolving rapidly. Banks and corporates need to keep up with new payment sources, participants and systems, yet must adhere to increased compliance requirements while meeting customers’ demands for greater transparency within their payment processing systems.”
He added: “Whether financial institutions choose to incrementally enhance current systems or introduce separate payment services, the complexity cannot be underestimated. Using VolPay Foundation, our clients are able to automate and enhance the integration, production and maintenance capabilities of their architecture and implementation projects.”
Image: Shutterstock 