Vijay Oddiraju, Volante Technologies
"We look forward to working with BT to help our clients reduce cost and risk."
BT has teamed up with Volante Technologies, the provider of financial data integration and processing software, to offer access to Volante's suite of tools and applications via the BT Radianz Cloud. The move aims to help BT's financial markets customers improve the reliability of their clearing, settlement and payment transactions processing, as well as reducing cost and increasing productivity.
Organisations conducting high-value transactions often have to use different message standards for each market in which they operate. Previously, this involved maintaining separate systems for each message format. The Volante tools and applications - which includes Volante Designer and the VolPay suite of payments processing products - simplify this process as they can translate any type of financial message between different standards.
The suite of tools and applications can help organisations to set up new payment channels when they want to connect to a new counterparty. And the software automatically updates when changes are made to industry standards.
Vijay Oddiraju, chief executive of Volante Technologies, said: "Volante Technologies has a long standing track record in helping a wide range of financial institutions and corporate enterprise clients improve their financial message and payments data integration processing.
"The combination of Volante Technologies' software and BT Radianz Messaging services will help firms deal with the diverse, complex and ever-expanding mass of data message formats, standards and protocols generated throughout the life-cycle of every financial transaction. This helps to keep customers abreast of developments in the market and removes the burden of updating systems. We look forward to working with BT to help our clients reduce cost and risk by improving their straight-through-processing rates and increasing operational efficiency and business agility."
Ashish Gupta, president, UK corporate and global banking & financial markets, BT Global Services, said: "Today's announcement shows how our ongoing investments in the BT Radianz Cloud continue to attract market-leading and innovative application and service providers for the benefit of our financial markets customers.
"Now, our Radianz Cloud community members can conveniently access Volante Technologies' software within the same managed, reliable and secure cloud environment as their other mission critical applications and data. It's a great example of what we at BT call a Cloud of Clouds approach - allowing our customers around the world to connect easily and securely to the data centres, applications and data they need, independently of where they are hosted."