One of the biggest challenges that any organization faces within financial services, be they bank, corporate treasury, card issuer or payments processor is facilitating communications with their customer base. Volante has a long track record in implementing solutions to address these requirements with the Volante Designer product has been specifically engineered to alleviate many of the issues commonly encountered. VolPay Channel has been created to specifically address Host To Host (H2H) customer on-boarding.
As yet more ISO 20022-based initiatives continue to be announced around the world, the pressure on organizations to implement and maintain efficient ISO 20022-based processing continues to grow. ISO 20022 is no longer the basis for one-off tactical projects. It now impacts multiple parallel running processes, projects and strategies across large swathes of the financial market landscape. Whether it is for international or local payment clearing, securities settlement, supply chain finance automation, funds administration or cash balance reporting, ISO 20022 has come to a town near you and is here to stay.
Recently SWIFT announced that it is ending support for SWIFT Alliance Integrator by April 2016. Customers using SWIFT Alliance Integrator must now migrate to another integrator tool to ensure continuity of business.
However, migrating from SWIFT AI to a newer tool presents development and operational challenges. Specialized knowledge of SWIFT messaging is required, as well as the means to translate the message data into formats that work with internal systems or other networks.The cost of engaging consultants is prohibitively expensive and meeting the timeline is a risk.
As ISO 20022 continues to replace legacy formats around the globe and becomes the de facto basis for clearing and settlement infrastructures, global banks and financial institutions are facing unprecedented challenges to support the proliferation of new XML based message formats.
Much in the way that banks support the diverse needs of their business customers, the modern corporate treasury supports enterprise business units operating around the globe with payments, foreign exchange, treasury management, trade and supply chain finance, fixed income products, investment products, regulatory reporting, clearing, depository services, and settlement services. Some corporates even set up a nominal “in-house bank,” through which business units can pay or receive interest or profit on funds.
Volante Technologies helps financial firms and corporates address the challenges associated with adhering to the mandatory adoption of SEPA compliant credit transfers and direct debits. Volante Technologies provide software integration tools offering complete support for all the SEPA message standards.
The Dodd-Frank Wall Street Reform and
Consumer Protection Act and corresponding new European regulations for
the OTC derivatives market aim to promote market integrity through
registration and regulation of swap dealers and major swap participants,
imposition of clearing and trade execution requirements, and the
creation of real-time reporting and data repositories.
Market participants will need to communicate with these new entities
and using new processes. Each will use a variety of message formats,
both industry recommended and proprietary throughout the trading
lifecycle. Firms will need to integrate data from multiple sources and
across a range of asset classes. Message types will need to be
integrated within other enterprise systems.
Volante insulates against these unknowns and ensures firms can
operate across new markets, new process and new transaction flows.
Volante’s integration and data management technology can streamline and
simplify any development and on-going maintenance requirements.
helps financial firms address the challenge of integrating all the
major standards involved in corporate actions processing.
Designer is a suite of modular tools for integration and management of
financial data. Used today by major financial institutions, exchanges
and industry utilities around the world, Volante enables users to
rapidly build data integration solutions among market data feeds,
applications and external partners.
Technologies provides complete support for SWIFT messaging through the
SWIFT Format Plug-in for Volante Designer. The SWIFT plug-in supports
all SWIFT versions via built-in data field dictionaries.
Technologies provides complete support for FIX messaging through Format
Plug-ins for Volante Designer. The FIX plug-in supports all FIX
versions up to and including 5.0 SP2 with built-in data field
is a "solution accelerator" for the development of new business
architecture and enterprise initiatives including virtualiszation,
process integration and data governance.
consumable data without increasing processing overhead is the most
persistent problem faced by data architects. Most latency problems
reside at the internal application layer and Volante can help customers
address this, measurably increasing their processing speeds.
A data services approach to application integration simplifies the challenges of multi-faceted transaction chains and enterprise-wide standardization.Volante supports data services with innovative solutions that integrate, transform and manage complex data.
Volante supports all versions of standard FpML messages. In addition to schema validations, users receive out-of-the-box implementation of all business validation rules. This includes compliance with ISDA and SWIFT validations, as well as extended protocol-level support for FpML communications with DTCC Deriv/SERV and MarkitSERV.
Volante Market Data Streamers are used today by major financial institutions and industry utilities around the world to build low-latency connectivity among market data feeds, applications and external partners.
The Dodd-Frank Wall Street Reform and Consumer Protection Act (‘Dodd-Frank Act’) mandates swap data recordkeeping and reporting requirements for swap data repositories, derivatives clearing organizations, designated contract markets, swap execution facilities, swap dealers, major swap participants and swap counterparties who are neither swap dealers nor major swap participants.
With Volante Solutions for Oracle, financial services firms can benefit from an architecture platform that radically enhances their ability to adapt to the constantly evolving landscape of information exchange. Whether driven by regulatory change, commercial pressure to rapidly on-board clients/ services, or simply to adhere to the maintenance cycles of existing global data standards such as SWIFT, FIX or FpML the challenges are considerable.
SCF is defined as the combined use of financial instruments, practices and technologies to optimize the working capital of collaborators in the supply chain process. In practical terms, this requires the proactive exchange of data between collaborating parties.
Volante has a long track record of partnering with application/technology vendors, systems integrators and consultancies that service the global financial services industry.