New York
16 November 2017
Reporter: Jenna Lomax

Volante and Open Vector partner

Volante Technologies has partnered with Open Vector, a banking consultancy firm, to create an end-to-end service of open banking policies and structures.

Open Vector’s banking strategy will be combined with Volante’s new programme, VolPay Channel, and will target the global banking industry.

The partnership promises to ensure firms can easily adopt new application programme interface-based (API) technologies, regardless of their current banking systems infrastructure.

According to Volante, VolPay Channel will enable banks to integrate their back-office servicing applications, with the front-end API management layer that provides the secure managed access to the bank’s environment via defined APIs.

VolPay Channel will also offer management and orchestration of two-way communications between the API layer and the banking system's environment.

Nadish Lad, global head of payment products at Volante, said: “By partnering with Open Vector, we will be able to offer a full service approach to clients looking to quickly adopt open banking. This will include consultancy and strategy through to rapid technology implementation and ongoing service, to help clients thrive in this new API-based landscape.”

Carlos Figueredo, CEO of Open Vector, added: “We are certain that through partnering with Volante, we can enable clients to become compliant with regulation, and also, most importantly, help realise new commercial business opportunities and revenue streams.”

“Their work in implementing APIs into the bank, helps banks with legacy infrastructures to take advantage of the opportunities in open banking.”

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