Award recognizes agility of Volante's Payments as a Service and company's position as a global leader in payments
LONDON, Jan. 18, 2023 /PRNewswire/ -- Volante Technologies, the leading global provider of cloud payments and financial messaging solutions to accelerate digital transformation, has won Best Wholesale Payment Solutions Provider at the Global Brands Awards 2022.
The award recognizes the agility of Volante's real-time, multi-rail, ISO 20022-fluent Payments as a Service (PaaS) that supports today's most complex payments operations at scale, with low risk and enhanced security. Built on cloud-native microservices architecture, Volante's PaaS accelerates onboarding time by up to 60%, reduces total cost of ownership by up to 40%, simplifies development of value-added services, and delivers API-based innovation on top of real-time processing rails.
Industry demand for the benefits of PaaS is on the rise. A survey by JP Morgan of 304 executives from companies with revenues in excess of $100 million globally from multiple functions revealed the three most important characteristics over the next three years: quick and frictionless ease of use, the ability to use internationally, and security.
Volante's solutions recognize these needs, connecting clients to new global markets and services in record time, with up to a 43% improvement in time-to-market. This is as a result of the extensive pool of services provided by Volante designed to provide fast, frictionless integrations with customers.
The availability of such services is timely, as the global payments industry is now on a positive post-pandemic growth trajectory. According to a survey by McKinsey & Company, global payments revenues will quickly return to a long-term 6-7% growth trajectory, reaching roughly $2.5 trillion by 2025.
Volante has received several other accolades confirming the company's global leadership position. The company was the only provider to be placed first for two consecutive years in the IBS Intelligence (IBSi) Sales League Table (SLT) for wholesale banking payments. Volante achieved this by onboarding the highest number of total new customers across all payments providers and products with the majority of deals being legacy vendor replacements. This equated to 30% of all new wholesale banking payments solution implementations for the year, outpacing six other vendors and twelve different products across numerous geographical regions and customer types.
Volante was also recognized as a Leader in the Omdia Universe: Selecting a Payment Hub, 2021-22 global survey and named to the prestigious IDC FinTech Rankings Top 100, also for two years running.
Vijay Oddiraju, CEO, Volante Technologies, said, "This award provides yet further recognition of Volante's hard-won status as a global leader in payments and a provider of cloud-native solutions that power entire economies. In 2023, we will continue to expand our product set, delivering innovative solutions to our clients so that they have the flexibility to adapt and the freedom to evolve and innovate at record speed."
Visit Volante's website to find out more about their award-winning payments solutions.
Volante Technologies is the leading global provider of cloud payments and financial messaging solutions to accelerate digital transformation. We serve as a trusted partner to over 100 banks, financial institutions, market infrastructures, clearing houses, and corporate treasuries in 35 countries. Our solutions and services process millions of transactions and trillions in value every day, powering four of the top five corporate banks, 40 percent of all U.S. commercial bank deposits, and 70 percent of worldwide card traffic. As a result, our customers can stay ahead of emerging trends, become more competitive, deliver superior client experiences, and grow their businesses through rapid innovation. To learn more, visit www.volantetech.com. Follow us at linkedin.com/company/volante-technologies and twitter.com/volantetech.
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