Volante Technologies Inc.

First American Trust FSB Chooses Volante Tech’s Fedwire Cloud Service

Volante Technologies Inc, a leading global player in payments market specialising in digital transformation technology has revealed the partnership with rival US firm First American Truest FSB in its latest announcement. As per statement released by the firm, First American Trust FSB, a specialist in real estate and escrow banking solutions has partnered with payment tech provider for access to its Fedwire cloud service. Volante Tech’s US Fedwire solutions is a cloud based wire procession solution which runs on Microsoft Azure and is expected to modernise payment processing infrastructure by replacing current legacy Fedwire processing solution in banks and financial service providers with cloud based wire processing solutions.

Volante’s “Fedwire as Service” tech will allow banks and financial service providers to gain benefits in form of a highly resilient, reliable and scalable payment technology via automation of wire processing service using cloud platform. This will allow the firm’s to smoothly handle increased loads of wire volumes while at the same time ensuring that the client’s wire transfers are never missed, duplicated or delayed. Deploying this technology now will allow First American Trust FSB to easily extend its services to include other payment options such as ACH, The Clearing House RTP® and SWIFT cross border payment solutions. Also Volante Fedwire’s native ISO 20022 messaging and 24x7x365 operational capabilities will allow the firm to be prepared to gain maximum advantage and benefits from Federal Reserve’s upcoming upgrade to U.S. Payment systems such as Fed Now Real Time Payment Systems.

Commenting on this deal, Robert Lawson – SVP of strategic initiatives at First American Trust FSB said “We were looking for a partner that could help us meet our strategic goals by providing a service-based payments processing capability that would create greater efficiencies within the bank, and enable a superior experience for our clients. Volante’s payments as a service (PaaS) in the cloud meets our business requirements, supports our growth, and ensures that we will be able to quickly roll out new payment services in the future”.

Vijay Oddiraju – CEO of Volante Technologies Inc

Speaking on same note, Vijay Oddiraju – CEO of Volante Technologies Inc said “Volante’s Fedwire as a Service provides end-to-end processing of wires from corporate initiation through to clearing and settlement, with direct connectivity to the Fed. By deploying the service in the cloud, we are offering banks rapid implementation and time to value, with the same reliability and speed taken for granted in consumer payments. The cloud based, active-active-active architecture, an industry first, delivers unparalleled availability, ensuring First American Trust will be able to focus on growing their business without any limitations on scale or resiliency”.