Cloud payment software company Volante Technologies has collaborated with Goldman Sachs to develop the Goldman Sachs Transaction Banking platform, built in the cloud.
The platform – of which Volante is now a customer – uses the firm’s VolPay cloud-native payments service to provide end-to-end processing for domestic and international payments.
“We are delighted to be collaborating with an innovative and disruptive organisation like Goldman Sachs,” said Uday Thakur, chief technology officer at Volante. “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.”
Volante says that the platform is designed to be nimble, secure and easy for the bank’s corporate clients to use and for partners to connect to, and that it features rich analytics, liquidity management, virtual accounts and payments.
“In launching digital transaction banking for our customers, we needed both cutting-edge functionality and the agility to meet ambitious targets,” said Luc Teboul, managing director at Goldman Sachs. “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.”