British Arab Commercial Bank has announced its partnership with Volante Technologies, aiming to modernise payments infrastructure through the use of PaaS.
Following this announcement, the collaboration is set to modernise the bank’s payment processing infrastructure, as well as replace legacy systems with a cloud-native platform.
In addition, BACB will leverage Volante’s PaaS solution in order to automate and streamline its SWIFT MT/ISO 20022 payments and internal transfers. Volante’s solution is expected to give BACB the possibility to move beyond legacy systems and manual processes, as well as enabling it to raise straight-through processing rates and continue to provide a first-class service to its customers.
More information on the British Arab Commercial Bank x Volante Technologies partnership
According to the official press release, BACB represents an international wholesale bank that focuses on providing global trade finance and treasury solutions to clients operating in and out of markets in Africa, the Middle East, and Asia. The financial institution sought a strategic partner with both technological capabilities and cultural alignment in order to modernise its payments infrastructure. With this in mind, Volante Technologies is set to deliver modern, scalable, and compliant payment processing through PaaS, as well as strong cultural alignment and trust. Additionally, the partnership will enable the company to deliver cloud-native payments solutions that are tailored to complex operational and regulatory needs as well.
Volante Technologies’ PaaS solution was developed in order to allow institutions to handle a wide range of payment schemes within a single, integrated platform for optimsied ease. At the same time, PaaS will focus on the process of delivering automation, scalability, and secure integration with both internal systems and external market infrastructures.
In addition, both institutions will focus on meeting the needs, preferences, and demands of clients and users in an ever-evolving market, while prioritising the process of remaining compliant with the regulatory requirements and laws of the industry as well.
