Volante Technologies, a US-based financial data integration tools provider, has Volante Technologies launched VolPay Hub, a centralized digital payments orchestration hub for lower cost implementation.
It is channel and payment type agnostic and designed to significantly slash time to revenue for digital payment processing by centralizing and accelerating the integration of payment source channels and target internal systems, the company claims.
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The platform is company’s the third in a suite of products dedicated to enabling accelerated payments integration and processing orchestration.
The company added that the solution will enable financial institutions to support new digital payment channels, regulations, and transaction orchestrations that require new types of processing.
It will also allow the user to set business rules, orchestration logic and other parameters, including treatments and preferences for each payment channel and payment type being processed.
The application, which can be implemented across a range of technology stacks, features a payment hub management console with comprehensive search, audit trail and reporting functions on all payment processing activities.
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By GlobalDataVolante Technologies CEO Vijay Oddiraju said: "These new payment flows present revenue opportunities for financial institutions but also require specialist processing systems or the modification of existing systems to bring flows online.
"VolPay Hub empowers financial institutions to make those critical changes themselves. This enables firms to be agile in their reaction to new business opportunities and furthermore remain compliant in the face of changing regulation."
Volante Technologies head of product management Venkat Malla said: "Through its extensive integration tooling and comprehensive streamlined approach to orchestration definition VolPay Hub significantly accelerates time to revenue and reduces the cost of ownership."
The product is currently being used at two banks including one in North America and another in Latin America, the company revealed.
