Volante Technologies Launches Partnership with Access to Arabia in Jordan

Financial message and data integration provider, Volante Technologies, has launched a strategic partnership with Access to Arabia (A2A), according to a Volante statement.

The impetus behind the partnership between Volante and A2A is the fortification of financial messaging capabilities of banks in Jordan, many of which are already A2A clients – more specifically, this will entail the migration to ISO 20022-based payment messages.

As a corollary, the Central Bank of Jordan has stipulated that all banks must convert local Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term from the existing SWIFT MT-based standards to the IS0 20022 standard in 2015. As a provider of middleware and mobile payment solutions for financial institutions across the Middle East, A2A will integrate components of Volante Technologies’ payments integration development platform, VolPay Foundation.

A2A hopes the new option will be an integral component of the message conversion solution for Jordanian banks opting to migrate to ISO 20022. At the time of writing, A2A implementation of Volante Technologies platform is already underway in Jordan.

According to Mick Fennell, General Manager, MEA, Volante Technologies, in a recent statement on the partnership, “For the past 15 years Volante has been helping insulate banks and corporates around the world from the complexity of changing message standards. The latest mandate by the Central Bank of Jordan is one of many ISO 20022-based migration projects currently occurring on both a domestic and international level.”

“Using components of VolPay Foundation, Volante has been implemented as the transformation layer that quickly and seamlessly transforms messages from one standard to the next without requiring a change to internal or legacy systems. We support A2A’s drive to offer participants choice in how they migrate to the new standard and look forward to helping more customers address their payments integration challenges and seeing them benefit from our long term partnership,” he noted.

“Volante Technologies’ proven track record in helping accelerate message transformation and integration projects and their local expertise within the region means that they were a perfect strategic partner for our current and future Middle East banking integration projects. Volante has not only provided out-of-the-box MT-MX transformations but has also built solutions for bespoke messages that are unique to the Jordanian market thereby enabling seamless migration. By embedding Volante’s technology into our platform, we are now able to dramatically reduce time to complete migration projects and help our clients meet the aggressive completion deadline,” added Nabil Halaseh, General Manager, Access to Arabia, in an accompanying statement.

Back in March, Volante Technologies made waves with its release of its latest version of Volante Designer, Version 5.1. Speaking with Finance Magnates at the time, Fiona Hamilton, VP Europe and Asia at Volante Technologies, outlined the latest upgrades, features and developments behind the launch.