Implementing the first new payment system in the United States in 40 years
After planning with the bank, Volante began implementing its VolPay Hub: RTP Suite, which is one of Volante’s flagship payment offerings, specially configured to deal with all aspects of processing and orchestration of RTPs. In addition the same solution also enabled the bank to provide Tokenized Payments® via Zelle®, further expanding their innovative propositions. It can be flexibly deployed on any infrastructure, be it cloud or on-premises.
“VolPay Hub provides a set of atomic business services for end-to-end payment processing and leverages our core principle of automation to enhance business agility with low running costs and high self-sufficiency for the customer. This makes it easier for customers to innovate new products and adapt to market changes in a rapid cost effective manner,” said Nadish Lad, Head of Payments, Volante.
Partnering with the customer to implement the solution efficiently, Volante moved from concept to production in less than 10 months with no issues.
“We are creating the building blocks for an integrated payments ecosystem both for today’s needs and for the next generation.
This approach allowed us to be first to market with RTP and will also serve us well over the long term. Working closely with trusted and innovative fintech providers such as Volante and our own development resources helps us deliver sustainable value quickly,” said the CIO of the tier-one American bank.
Beating the competition to market
Ultimately, deploying VolPay Hub: RTP Suite has afforded the bank greater business agility and reduced running costs while allowing it to beat its competitors to the market and become the first tier-one US bank to offer RTP to its customers. Already processing the first RTPs in the history of the United States, the bank is now meeting the demands of modern users, for whom convenience and speed are key differentiators in all products and services they consume.
VolPay Hub is now available on Azure, which means that all the rich capabilities of the Azure cloud can be utilized to provide a scalable, reliable, and flexible package for anyone.
“The technology helps us deliver on three main client needs: 24/7, 365 processing; instant, immediate payment settlement; and reporting,” said the head of global payments product management of the tier-one American bank.