Volante Technologies announced this Wednesday that it has been collaborating with Goldman Sachs Bank USA to help the multinational investment bank launch its digital transaction banking service.
Specialising in cloud payments and financial messaging, Volante Technologies provided Goldman Sachs with the payments technology which underpins the new digital banking service, which was built from scratch in the cloud. In addition to helping the bank launch its new service, Volante has become a client on the platform.
Commenting on the partnership, Luc Teboul, Managing Director and engineering lead for the Goldman Sachs Transaction Banking platform, said in the statement: “In launching digital transaction banking for our customers, we needed both cutting-edge functionality and the agility to meet ambitious targets.
“At the same time, we always aim to collaborate with companies who have the desire to be long term partners. Volante met our top criteria for an ideal collaborator: modern cloud-native technology, deep payments and transaction banking expertise, and the ability and flexibility to deliver against aggressive deadlines. We welcomed them as a client very early on in our journey.”
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The Goldman Sachs Transaction Banking platform provides the bank’s corporate clients with a service that combines analytics, liquidity management, virtual accounts and payments. The platform is API-enabled.
Volante Technologies Provides VolPay to Goldman Sachs Platform
According to the statement from Volante Technologies this Wednesday, at the core of Goldman Sach’s service is VolPay, which has provided unified end-to-end processing of domestic and international payments, including foreign exchange (forex).
“We are delighted to be collaborating with an innovative and disruptive organization like Goldman Sachs,” added Uday Thakur, Co-founder & CTO, Volante Technologies, in the statement.
“This is truly a two-way street: our payments solutions and know-how have enabled Goldman Sachs to rapidly launch a superior cloud transaction banking service while they worked closely with us in the certification process with US domestic and cross-border payment networks.
“We are excited about the platform we have built, and the proof is in our decision to become Goldman Sachs Transaction Banking customers ourselves. We look forward to extending our collaboration in both directions, helping Goldman Sachs evolve their transaction banking roadmap while we benefit from their advanced payments, FX, and cash management services.”