VolPay Suite in the Cloud
Cloud computing: Past and present... the time is now
Certain schools of thought have said that banks, particularly Tier 1 banks and other similar financial institutions, would never err away from the traditional model of in-house or data centre hosted software deployments for security or regulatory reasons – but attitudes are changing driven by the need to be more agile, competitive and efficient and reduce costs.
A change in mind-set
Forming a key part of its R&D work, Volante studies market trends, initiatives and emerging technologies that financial institutions need to remain agile and competitive. This work has enabled us to observe a steady change in mind-set from financial institutions towards the use of cloud for deployment of services and software to either efficiently support their business operations or offer services and products to their end customers. The principle driver for this change of attitude is the need to reduce costs, improve scalability and be nimble in dealing with the increased rate of change in today’s market place - in essence, increased business agility, efficiency and all in all a lower cost paradigm. This has increased appetite for on-demand products and services.
Banks no longer want to install costly hardware - they want to shift from Capex to Opex spend. Furthermore they continue to seek greater agility at lower costs, built upon scalable technology in a secure environment.
Security has in the past been one of the largest barriers to cloud adoption. However, with various cloud service options available today such as Private, Hybrid or Public Cloud, and the fact that large cloud service providers invest significantly in security as a critical factor in the successful continuity of their business, this has reduced concerns to a large extent.
Volante’s VolPay Suite: Payments as a Service
In response to the growing trend of acceptance of cloud adoption by financial institutions, Volante’s VolPay Suite of payment products is now available in the Microsoft Azure Cloud – offering in effect ‘Payments on-boarding, transformation, integration, processing and orchestration as a service.’ This gives our customers access to the complete suite of payment products capable of managing the entire lifecycle of any payment. The VolPay Suite is proven to be hugely scalable and its inherent atomic business services based on microservices technology, means that financial institutions can implement and use exactly the functionality they need and add further functions as needed.
Many financial institutions are turning to Volante for Payments as a Service to take advantage of many business benefits including:
- Avoiding high IT costs
- Access to tailored business models
- Reduction in the time, complexity and cost of projects
- Dramatic improvements in business agility through the automation offered by VolPay
- Immediate access to new functionality as it becomes available
- Always be in step with changes in standards and regulation
- Acceleration in all payments processing activities
- Significantly faster time to market and therefore faster time to revenue
to learn more about the VolPay Suite, click here to see a short video animation