Banorte & Volante Technologies partner for payments modernization

By Pavithra R

Grupo Financiero Banorte, a leading Mexican Bank has announced its partnership with Volante Technologies, a global provider of payments and financial messaging solutions in the cloud, to modernize the bank’s cross-border payment architecture. 

Under the partnership, all related systems, including channels, will connect to Volante’s VolPay to orchestrate and process cross-border transactions, thereby accelerating Banorte’s digital strategy and transforming its customer experience.

Mexican banks have a strong desire to innovate and differentiate and are looking to work with leading providers that can help them move in that direction. Cross-border payment is a field where banks, technology providers, and FinTech firms are effectively collaborating to increase industry-wide innovation and broaden business and retail services. 

“We’re on an innovation journey, and payments are a very important part of this journey. With Volante, every day is an opportunity to make the daily life of our retail and corporate clients more convenient. We will be adding more payment types and releasing more tailored services faster than our competitors. We will also be able to take advantage of initiatives such as banking as a platform, cloud modernization, and distributed ledger technology,” said Ricardo Velazquez, Managing Director and Head of International Banking, Trade and International FIs at Banorte.

Banorte will unify all its processes into one cloud-native, microservices-based platform with Volante and will make material strides in its quest to delight its customers with fast, resilient, and safe financial services. The partnership will provide various benefits such as easier compliance management, fraud identification, and escalated straight-through processing (STP), reduce time to market for new products, offer a greater variety of services across multiple or alternative payment rails, and more. Customers will be able to perform payments with greater security and ease through digital self-service capabilities.

“Ultimately, Banorte will be able to lay the foundation for a modern ecosystem to spur financial inclusion and digital transformation,” said Luis Melgarejo, VP, Latin America Operations, Volante Technologies.

“In our constant pursuit to help our clients expand their customer base, navigate change and innovate, we’re proud to collaborate with Banorte. Sending payments should be fast, easy and cost-effective. Our goal is to ensure that Banorte continues to be positioned for success in this rapidly evolving market,” added Luis Melgarejo.

Established since 2001, Volante Technologies is a global provider of software to accelerate digital transformation and modernization. Its business services simplify complex systems and processes in payments, capital markets, and financial message automation.