PAYMENTS

Volante Technologies Extends Cloud Payments Collaboration with FIMBank

Volante | February 10, 2022

Volante_Technologies_Extends
Volante Technologies and FIMBank to extend their payments innovation journey. Volante Technologies, the cloud payments and financial messaging leader, announced its extension in support of plans to deploy additional rails and components from the Volante Payments as a Service (PaaS) cloud-native payments processing platform. FIMBank is a leading trade finance and forfaiting solutions provider and has served in the payment sector for a long period.

The first suite of collaboration began in 2018. FIMBank joined hands with Volante and its cloud service on Microsoft Azure. As a result, FIMBank collaborated to process inbound and outbound SEPA payments for corporate customers. Using the cloud platform, banks will now use the service to facilitate their switch to clear and settle through the Central Bank of Malta.

As the news spread, Gilbert Coleiro, CIO, FIMBank, gave his inputs. He commented, "We collaborated with Volante to help us implement the first step of our innovation program - processing SEPA payments in the cloud. Volante's PaaS is now a core part of our mission-critical payments business. Its extensibility will allow us to easily participate in new schemes like SEPA instant, expand cross-border capabilities, and smooth our migration to ISO 20022. By doing so, we will be able to deliver data-rich 24x7 instant payment experiences to corporations, no matter where or when they do business."

Gareth Lodge, Senior Analyst, Global Payments, Celent, was also seen giving his views. He says, "Banks and financial institutions face stiff competition for corporate business on all fronts: larger global banks, smaller challengers, fintech, and big techs. The key to rising above the competition is rapid payments modernization. More than ever that means adopting cloud-native as-a-service platforms for payments processing, particularly instant payments. The benefits are clear: faster time to value, greater resilience and scalability, lower costs, higher margins, and ultimately superior customer satisfaction and market share."

We are delighted to see FIMBank expand its relationship with Volante by using our cloud Payments as a Service for more of its mission-critical payments needs, including SEPA instant processing. In addition, FIMBank has recognized that the cloud can accelerate its modernization journey and eliminate legacy limitations, giving it the freedom to evolve in whatever direction it chooses for itself and its customers. We look forward to continuing to support FIMBank throughout this journey."

Vijay Oddiraju, CEO, Volante Technologies.

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This article investigates the recent monetary experience of Zimbabwe with dollarization. It shows how dollarization has allowed Zimbabwe to quash hyperinflation, restore stability, increase budgetary discipline, and reestablish monetary credibility. Zimbabwe’s hyperinflationary past and the stabilization measures taken by the government are outlined, and the consequences defined...

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