Volante Technologies Inc., a leader in the provision of software for the integration, processing and orchestration of financial messages and payments, working in collaboration with Ripple, today announced a solution specifically designed to accelerate the process of integrating with Ripple, a global provider of distributed financial technology solutions offering real-time settlement of cross border payments for banks such including Santander.
“Ripple continues to gain traction in the payments world and banks are looking for solutions to quickly and easily integrate to this new distributed ledger based multi-currency settlement solution,” noted Volante Technologies Market Engagement Director Neil Clarke. “Volante’s market leading integration technology is ideally suited to meet the challenge of integrating a bank’s payment systems to the Ripple network. Our aim has been to make integration with Ripple, a plug and play process.”
At SIBOS 2015 Volante demonstrated Ripple-readiness as a feature of the VolPay Hub product. Building on this capability and following close engagement with Ripple, Volante has developed an integration solution designed to connect to Ripple.
“By introducing this new Ripple integration solution as a component part of VolPay Foundation, we are now offering the agility and simplicity that banks need to integrate their existing payment platform with the Ripple settlement network,” added Nadish Lad, Head of Payments Product, Volante Technologies. “The Volante solution will use the bank’s existing payment message standards to communicate with Ripple – Banks will be able to achieve integration without spending the time and effort normally associated with this type of integration work.”
Volante’s new Ripple integration solution is the latest component added to Volante’s VolPay suite, created to ease integration for banks who are current or future Ripple customers. The solution encompasses the necessary workflow, message transformation and payment orchestration requirements to allow banks simpler integration with Ripple’s payment network, both sending and receiving, with minimal if any changes to existing payment systems.
“The combination of Volante and Ripple greatly simplifies banks’ integration with Ripple distributed financial technologies,” Steve Mollenkamp, Head of Channel Sales, Ripple, concluded. “We view Volante as a critical partner for building Ripple’s new real-time, data-rich payments network.”