Volante Technologies Supports ISO 20022 Real-Time Payments Group
- Payments , Security
- 20.04.2016 01:15 pm
Volante Technologies is pleased to announce support for the ISO 20022 Real-Time Payments Group (RTPG) global market practice guidelines which were published on 18th April 2016 on the ISO 20022 website.
To support a customer-led need for instant payments, the capability for real-time payments processing continues to grow. To date, this has been supported by a number of real-time payment systems emerging around the globe but using differing standards. The guidelines published on the 18th April are anticipated to be expanded upon, but will help deliver harmonization and standardization of real-time initiatives with the ultimate aim of improving interoperability as yet more real-time payment infrastructures are introduced.
In line with Volante’s ethos of facilitating ease of adoption in this challenging payments world,Volante’s early support of the RTP messages and associated usage guidelines, is designed to increase the speed and flexibility in which participants in the payments chain can integrate and test against the new formats and API’s as part of the payment processing solutions they may already have or may build, regardless of technology platform.
Nadish Lad, Director, Head of Payments Product, Volante Technologies Inc., commented, “By including support for the RTP messages and usage guidelines in the VolPay suite of products,Volante can significantly help banks and other financial institutions to rapidly develop their own solutions to expedite the implementation of payment processing while complying with the payments market infrastructure change requirements we will continue to experience. Yesterday’s announcement is a great example of how the inclusion of expert vendors of market technology can help accelerate the support of standards in a timely manner.”
Fiona Hamilton, VP Europe and Asia, Volante Technologies Inc., added, “As a contributor to the RTPG from its inception, and based on our experience in the market, we have been working closely with the industry to input into these latest guidelines and as such, we are delighted that these have now been published. Having input to the standards process from the perspective of a vendor on the impact of the guidelines ensures that these are based on a pragmatic approach to implementation. In my experience, this is the first time vendors have been invited to contribute to a drafting group and I hope this is the start of a new dawn of collaboration.”