Azqore selects Volante Technologies’ PaaS tech for SEPA instant payments
Azqore, an IT and banking operations technology provider for private banks and wealth managers, has tapped US payments technology provider Volante Technologies to deliver modern SEPA instant payments and ISO 20022 messaging services for its customers.
Azqore selects Volante for SEPA instant payments
The Switzerland-headquartered company is set to integrate Volante’s Payments-as-a-Service (PaaS) tech into its core banking infrastructure to help ensure compliance with the European Commission’s incoming SEPA instant payments mandate.
The cloud-native, API-driven solution allows for real-time payment processing with transaction confirmation in under 10 seconds, while also adhering to the fraud detection and sanctions screening requirements set out by SEPA.
Volante’s PaaS also supports ISO 20022 – a global standard for financial messaging which improves data quality and interoperability between different payment systems – building upon Azqore’s previous selection of Volante’s low-code ISO 20022 service in 2022.
“With Volante’s PaaS, we can bring new instant payments and ISO 20022 services to market faster,” says Belhassen Belkhechine, payments and operations product manager at Azqore.
The SEPA mandate set by the European Commission requires service providers operating in the Eurozone to put in place measures that ensure they can receive instant payments by December. A year on from this, they will also be required to adopt technologies that enable them to send instant payments.
“As customer demand continues to evolve, it is crucial that financial institutions of all kinds have the solutions they need to stay competitive, especially as we’re seeing an increase in the pace of regulatory change,” adds Anders Ohrneman, head of IT post-trade and operations at Azqore.
Managed as a subsidiary of Indosuez Wealth Management, the wealth management arm of the Crédit Agricole Group, Azqore operates its S2i platform, an integrated technology solution supporting front office, client and post-trade, retail, corporate, and investment banking functions.
