FIMBank, a Malta-based provider of trade finance, is to extend its partnership with payments specialist Volante by deploying additional components from the Volante Payments as a Service (PaaS) payments processing platform.
The partnership began in 2018 when FIMBank selected Volante’s service, running in the cloud on Microsoft Azure, to process inbound and outbound Single Euro Payments Area (SEPA) payments for the bank’s corporate customers.
FIMBank will now use the service to facilitate their switch to clearing and settlement via the Central Bank of Malta.
Gilbert Coleiro, chief information officer at FIMBank, comments: “Volante’s PaaS is now a core part of our mission-critical payments business. Its extensibility will allow us to easily participate in new schemes like SEPA instant, expand cross-border capabilities, and smooth our migration to ISO 20022.”
Vijay Oddiraju, CEO of Volante Technologies, says: “We are delighted to see FIMBank expand its relationship with Volante by using our cloud PaaS for more of its mission-critical payments needs, including SEPA instant processing.”
He adds: “FIMBank has recognised that the cloud can accelerate its modernisation journey and eliminate legacy limitations, giving it the freedom to evolve in whatever direction it chooses for itself and its customers. We look forward to continuing to support FIMBank throughout this journey.”
