Volante Technologies, which works in cloud payment processing and messaging, has landed a big new client, Grupo Financiero Banorte.
Volante says it is going to be working with the Mexican financial institution, one of many world’s largest, to modernize its cross-border funds structure.
Banorte will join “all associated techniques, together with channels” to Volante’s VolPay, which is able to assist the financial institution orchestrate and course of cross-border transactions whereas additionally “accelerating the financial institution’s digital technique,” Volante mentioned in a press launch.
Specifically, VolPay is a “cloud-native” and “API-ready” system that gives “end-to-end processing of home and worldwide funds,” in accordance with Volante.
Volante’s purpose, as described by Vijay Oddiraju, co-founder and CEO, is to “assist monetary establishments by offering fashionable options to simplify the complexity of their operations and speed up enterprise outcomes, from capital markets to custody to transaction banking.”
Ricardo Velazquez, managing director and head of worldwide banking, commerce and worldwide FIs at Banorte, mentioned in a press assertion the partnership with Volante will allow the Mexico Metropolis-based financial institution to maintain forward of the competitors by rolling out extra fee sorts and extra tailor-made providers.
“We’re on an innovation journey and funds are a vital a part of this journey,” Velazquez mentioned. “With Volante, day by day is a chance to make the each day lifetime of our retail and company shoppers extra handy. We will probably be including extra fee sorts and releasing extra tailor-made providers quicker than our rivals. We may also have the ability to make the most of initiatives equivalent to banking as a platform, cloud modernization, and distributed ledger know-how.”
It represented the primary time Volante acquired outdoors funding funding after greater than 20 years in enterprise, with the agency planning to make use of the cash to hurry up the growth of its cloud-based fee processing know-how.