Volante Technologies has collaborated with Goldman Sachs to develop the payments technology that underpins the bank’s recently launched cloud-based digital transaction banking service.
In the partnership, cloud payments and financial messaging provider Volante will also become a client of the Goldman Sachs Transaction Banking Platform.
The platform is fully application programming interface (API)-enabled, incorporating analytics, liquidity management, virtual accounts, and payments.
Volante’s VolPay is located at the core of the platform and provides end-to-end processing of both domestic and international payments, including foreign exchange (FX), US wire transfers, automated clearinghouses, and SWIFT cross-border payments.
Luc Teboul, managing director and engineering lead for the platform at Goldman Sachs, explained: “In launching digital transaction banking for our customers, we needed both cutting-edge functionality and the agility to meet ambitious targets.”
“We always aim to collaborate with companies who have the desire to be long term partners. Volante met our top criteria for an ideal collaborator: modern cloud-native technology, deep payments and transaction banking expertise, and the ability to deliver against aggressive deadlines. We welcomed them as a client very early on in our journey.”
Uday Thakur, co-founder and CTO at Volante Technologies, added: “We are delighted to be collaborating with an innovative organisation like Goldman Sachs.”
“Our payments solutions and know-how have enabled Goldman Sachs to rapidly launch a superior cloud transaction banking service, while they worked closely with us in the certification process with US domestic and cross-border payment networks.”
“We look forward to extending our collaboration in both directions, helping Goldman Sachs evolve their transaction banking roadmap, while we benefit from their advanced payments, FX, and cash management services,” Thakur concluded.
