Volante Technologies unveils Embedded Preprocessing to accelerate payments

By Delisha Fernandes

Volante Technologies, a cloud payments and financial messaging solution, announced the general availability of Volante Embedded Preprocessing, its latest solution to help banks validate, transform and route payments messages efficiently while delivering a better customer experience to drive business growth.

The solution has already been integrated into the operations of two major banking giants—a prestigious South African financial institution and a leading regional business bank in the United States.

Volante Embedded Preprocessing enables banks to modernise their payment infrastructure without replacing existing systems, reducing the cost of ownership by 40 %. The solution also provides access to the latest payments innovation so financial institutions gain a 50 % improvement in time to revenue and can capitalise on new market opportunities faster.

Banks that deploy Volante Embedded Preprocessing can manage payment validation before it reaches the bank processing hub or core, enabling institutions to process more messages, reduce investigations and increase straight-through processing and, therefore, business growth.

“Preprocessing helps financial institutions increase the adoption of new payment channels for business clients. It unifies payment types and messages, identifying the best payment options based on business needs. In turn, business clients become far more likely to adopt electronic payments, which significantly increases straight-through processing rates and unlocks new revenue streams for banks,” said Paul Kizirian, strategic advisor, Aite-Novarica.

“Offering new payment methods to business customers is complex,” said Deepak Gupta, SVP & Global Head, Payments as a Service, Volante Technologies. “Businesses need the ability to choose how they make each payment. They don’t have the flexibility to take a one-size-fits-all approach and must consider several factors while still controlling how and when payments are made. These factors include vendor preferences, least cost routing options, fastest presentment, applicable laws and regulations and rebate potential.”