First American Trust FSB Selects Volante Technologies US Fedwire as a Service in the Cloud
NEW YORK, June 15, 2020 /PRNewswire/ -- Volante Technologies Inc., a global provider of payments solutions to accelerate digital transformation, today announced that First American Trust FSB has selected Volante's US Fedwire as a Service. First American Trust FSB offers banking solutions for the escrow and real estate industries. Volante's service, running on Microsoft Azure, will replace the bank's legacy Fedwire processing solution and modernize its payments processing infrastructure.
By automating wire processing with Volante's Fedwire as a Service in the cloud, the bank will benefit from resilient, reliable, and scalable payments technology. They will be able to smoothly handle increasing wire volumes, and ensure that their customers' wires are never missed, duplicated, or delayed.
In the future, First American Trust FSB will also be able to easily extend the service to other currently available payment types such as ACH, The Clearing House RTP®, and SWIFT cross-border payments. The service's native ISO 20022 messaging and 24x7x365 operational capabilities also ensure that the bank will be ready to make the most of the Federal Reserve's upcoming enhancements to the U.S. payment system, including the FedNow real-time payment system.
Robert Lawson, Senior Vice President, Strategic Initiatives at First American Trust FSB, said, "We were looking for a partner that could help us meet our strategic goals by providing a service-based payments processing capability that would create greater efficiencies within the bank, and enable a superior experience for our clients."
"Volante's payments as a service (PaaS) in the cloud meets our business requirements, supports our growth, and ensures that we will be able to quickly roll out new payment services in the future," Lawson continued.
Vijay Oddiraju, CEO, Volante Technologies, said, "Volante's Fedwire as a Service provides end-to-end processing of wires from corporate initiation through to clearing and settlement, with direct connectivity to the Fed. By deploying the service in the cloud, we are offering banks rapid implementation and time to value, with the same reliability and speed taken for granted in consumer payments. The cloud based, active-active-active architecture, an industry first, delivers unparalleled availability, ensuring First American Trust will be able to focus on growing their business without any limitations on scale or resiliency."
Ed Fandrey, Vice President, Financial Services at Microsoft Corp. said, "Many banks are experiencing significant growth in Fedwire volumes - and electronic payment volumes overall. Legacy systems and services cannot manage this growth and cloud-based payment processing services are an ideal resolution. With 'cloud-first' approaches becoming the norm for payments processing, Microsoft Azure is an ideal fit."
About Volante Technologies
Volante Technologies is a global provider of technology and software as a service to accelerate digital transformation and modernization in financial services. Our clients include the world's largest banks, market infrastructures, exchanges, clearing houses, corporate treasuries, and card networks.
Volante's ecosystem of business services simplifies and automates complex systems and processes in payments, capital markets, and financial message integration. As a result, our clients are able to stay ahead of emerging market trends, become more competitive, deliver superior customer experiences, and grow their businesses through innovation.
Founded in Silicon Valley in 2001, Volante today serves as a trusted, strategic business partner to over 90 financial institutions in 35 countries.
For further information please visit: www.volantetech.com.
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SOURCE Volante Technologies
