US-based cloud payments and financial messaging company Volante Technologies has forged a partnership with Goldman Sachs.
Through this partnership, Volante intends to provide the payment technology behind Goldman’s cloud-based digital transaction banking platform.
Volante also became a client of the platform, as part of this collaboration.
Goldman Sachs MD and engineering lead of transaction banking platform Luc Teboul said: “In launching digital transaction banking for our customers, we needed both cutting-edge functionality and the agility to meet ambitious targets.
“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.”
The Goldman Sachs transaction banking platform is fully API-enabled and integrates rich analytics, liquidity management, virtual accounts, and payments.
At its core includes Volante’s cloud-native end-to-end domestic and international payments processing solution called VolPay.
It processes foreign exchange (FX) payments across US wires, ACH, SWIFT cross-border payments, and other payment rails.
Volante co-founder and CTO Uday Thakur said: “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.”