Volante, Citi to work towards the bank's adoption of ISO 20022

Tuesday 19 January 2021 14:34 CET | News

US-based Volante and Citi have announced the deepening of their relationships to accelerate the bank’s adoption of the ISO 20022 financial messaging standard.

As a result of this collaboration, Citi will be the first Volante customer to offer a unified approach to ISO 20022 migration across the globe. Citi will be building its core capability using Volante’s VolPay For ISO 20022 Migration solution. This solution will enable the sending and receiving of ISO 20022 messages and provide help with the usage of the ISO 20022 enhanced data throughout the transaction lifecycle for sanctions screening, AML monitoring, reporting and reconciliation.

Volante’s payments processing solutions are already a big part of Citi’s payments and transaction banking platforms. Using this technology, they will be able to simplify the complexity of mandatory ISO 20022 migrations across the markets in which they operate.

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Keywords: Volante, Citi, partnership, communication standards, US, ISO migration, ISO 20022, AML
Categories: Banking & Fintech
Countries: United States
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Banking & Fintech

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