Treasury News Network

Learn & Share the latest News & Analysis in Corporate Treasury

  1. Home
  2. Connectivity
  3. Business & Middleware Connectivity

Volante Technologies VolPay Hub: centralized digital payments orchestration hub

Volante Technologies Inc., a provider of software for the integration, processing and orchestration of financial messages, data and payments, today announced the launch of VolPay Hub, the third in the VolPay suite of products dedicated to enabling accelerated payments integration and processing orchestration. 

Payment market pressures

Digital payment market is a dynamic and diverse market which is experiencing significant growth, not only in the number of new processors and disruptive competitors entering the market, but also in the:

  • types and numbers of new and alternative payments channels
  • daily, weekly, monthly, yearly transaction volumes
  • new processing requirements and the complexity of message standards, and regulations

While at the same time there is a shift to shorter clearing and settlement cycles.  With many firms facing internal systems technology constraints that either limit or remove the agility they require to react quickly to these new business opportunities and, importantly, keep-up with new regulation. 

VolPay functionality 

VolPay Hub is a highly scalable, high performance, configurable, next generation payments hub. VolPay Hub is channel and payment type agnostic and designed to reduce time to revenue for digital payment processing by centralizing and accelerating the integration of payment source channels and target internal systems.

VolPay Hub enables the quick normalization of payment streams from any source containing any payment type. It provides a simplified streamlined approach for configuring the required processes.  This is achieved via a comprehensive process orchestration definition console which is then used to set business rules, orchestration logic and other parameters, including treatments and preferences for each payment channel and payment type being processed within the hub.  Pre-built, configurable interfaces to key enrichment and verification activities required within the payment lifecycle such as reference data, lexicons, FX, AML, billing, and accounting can be flexibly called and utilized at any point in the process.  

VolPay also includes a payment hub management console with comprehensive search, audit trail and reporting functions on all payment processing activities.

The hub can be implemented across an extensive range of major established technology stacks for the required database, application server, service bus and operating system including open source options such as JBOSS, Linux, MySQL, Mulesoft, Camel, etc.

VolPay users

At present, VolPay Hub is being implemented at two banks, one in North America and another in Latin America. Corporate users are also expected to take advantage of the comprehensive flexible functionality to ensure efficient processing of payments and receipts in their payment and/or collection factories.

Like this item? Get our Weekly Update newsletter. Subscribe today

Add a comment

New comment submissions are moderated.