Volante Technologies and KPMG has joined forces to offer financial institutions comprehensive ISO 20022 and real-time payments (RTP) readiness diagnostics.
As a result, banks and payment service providers can start their real-time payments journey immediately with The Clearing House RTP®, and prepare for new instant payment schemes such as the FedNowSM Service as they become available. More so, financial institutions will be able to modernize their legacy wire and ACH payment systems, and strategically position themselves for emerging payments trends such as connected or embedded banking. In addition, they will become ISO 20022 compliant.
“ISO 20022 and RTP represent watershed moments in payments and serve as catalysts for change with the opportunity for banks to provide a better payment experience and value-added solutions for corporates. While the ISO 20022 compliance deadline may seem far away, 2022 is the critical year for banks to ensure they have a clear strategy and plan for ISO 20022 readiness given the complex legacy IT environments of many banks,” said Courtney Trimble, Principal, KPMG, and Global Head of Payments.
“With FedNow coming and increasing interest in instant payments in the U.S., there is a perfect storm brewing for banks to have a comprehensive payments modernization plan for the next two to three years,” Trimble continued. “We are excited about the opportunity to work with Volante to drive new modernization and innovation to our bank clients, resulting in richer payments experiences and offerings to their customers.”
“We’ve been very impressed working with the KPMG team for the past year. Formalizing our strategic alliance will see us take our relationship to the next level,” said Jim Chow, VP of Partnerships, Volante Technologies.
“KPMG brings deep banking and payments industry experience with strong insights into ISO 20022, real-time payments, and payments modernization – both from a consulting and regulatory perspective,” continued Chow. “Together, KPMG and Volante will give financial institutions the freedom to adapt to the fast-evolving payments landscape by turning the challenges of ISO 20022 migration and real-time payments enablement into a strategic business advantage.”
Deepak Gupta, Global Head, Payments as a Service, Partnerships and Strategic Alliances, Volante Technologies, added, “Volante continues to lead in the marketplace with its latest cloud-native technology. An alliance with KPMG is another important cornerstone of our overall partner ecosystem. Our customers now have access to the best of both worlds: Volante’s modern technology with the lowest time to value with the deep domain expertise of KPMG.”
