Volante Technologies, a major player in cloud payments and financial messaging, has partnered with KPMG to provide thorough ISO 20022 and real-time payments (RTP) readiness diagnostics to financial institutions. The new collaboration will provide banks with a great combination of cloud-native payment solutions and accompanying advisory services, allowing them to quickly upgrade their payment processes and functions.
Courtney Trimble, Principal, KPMG, and Global Head of Payments, said, “ISO 20022 and RTP represent watershed moments in payments and serve as catalysts for change with the opportunity for banks to provide a better payment experience and value-added solutions for corporates. While the ISO 20022 compliance deadline may seem far away, 2022 is the critical year for banks to ensure they have a clear strategy and plan for ISO 20022 readiness given the complex legacy IT environments of many banks. With FedNow coming and increasing interest in instant payments in the U.S., there is a perfect storm brewing for banks to have a comprehensive payments modernization plan for the next two to three years. We are excited about the opportunity to work with Volante to drive new modernization and innovation to our bank clients, resulting in richer payments experiences and offerings to their customers.”
As a result, banks and payment service providers can begin their real-time payment journey with The Clearing House RTP® right away and plan for additional instant payment schemes, such as the FedNowSM Service once they become operational. Financial firms would be able to manage their current wire and ACH payment systems while also establishing themselves for upcoming payment trends like linked or embedded banking.
Jim Chow, VP of Partnerships, Volante Technologies, stated, “We’ve been very impressed working with the KPMG team for the past year. Formalizing our strategic alliance will see us take our relationship to the next level. KPMG brings deep banking and payments industry experience with strong insights into ISO 20022, real-time payments, and payments modernization – both from a consulting and regulatory perspective. Together, KPMG and Volante will give financial institutions the freedom to adapt to the fast-evolving payments landscape by turning the challenges of ISO 20022 migration and real-time payments enablement into a strategic business advantage.”
Deepak Gupta, Global Head, Payments as a Service, Partnerships and Strategic Alliances, Volante Technologies, commented, “Volante continues to lead in the marketplace with its latest cloud-native technology. An alliance with KPMG is another important cornerstone of our overall partner ecosystem. Our customers now have access to the best of both worlds: Volante’s modern technology with the lowest time to value with the deep domain expertise of KPMG.”