Interview: Vijay Oddiraju, Volante Technologies
Vijay Oddiraju, CEO Volante Technologies
In an exclusive interview with Vijay Oddiraju, co-founder and CEO of payments processing software provider Volante Technologies, speaks on the topics of agility, automation and how the ambitious company intends to prosper in the fast moving and competitive world of payments.
If banks and corporates need to move quickly in the payments space, then Volante believes it is in the best position to help.
Its vision is to offer drastic reductions of time and cost in implementing payments transformation and financial message integration projects. The firm currently serves over 85 clients in 27 countries – a number that is rapidly growing.
From its very beginnings, the Volante Designer product rapidly evolved in functionality in automation features and its library of plugins, transformations and processor modules – this is core to its promise of accelerated implementations. Today, this library and product automation features has grown hugely in line with market needs.
Volante has been providing solutions to the payments industry and other financial industry sectors for years, and two years ago further enhanced and formulated their time proven technology specifically for the payments industry launching the VolPay Suite of payments processing products.
Volante is sitting in a good place at present and its CEO is on hand to explain more.
Our DNA
In terms of what Volante offers today, Oddiraju, is open and expansive on the subject.
“Fundamentally, we enable increased business agility. An interesting fact is that for every dollar a financial institution spends on software, they typically spend $6-8 implementing it. This is mainly due to the manual intervention needed. We dramatically reduce this figure through automation – it’s in our DNA.”
While banks may have reliable systems in place, these have become old and expensive to be made agile or indeed replace. Volante alleviates this problem by providing an “insulation or protective layer” if you will, enabling business agility in a flexible and accelerated manner in the face of the plethora of changes in the market such as; new customer demands, business opportunities, regulations and standards. This approach not only extends the life of these legacy systems, but also provides scalability for future use if a firm chooses to phase out older systems.
Real-time revolution
When asked about where the market is headed, Oddiraju is very clear.
“Tier 1 banks are at the forefront of implementing real-time payments, while the smaller banks are waiting for greater traction in the market. We are working closely with some of the banks in this space with the aim to make it easy for all banks to join the real-time revolution. We also see growing acceptance of the ‘Payments-as-a-Service’ concept. This market has huge potential and Volante will certainly play an active role within it.”
“Regarding cloud, banks are less hesitant now – the idea of outsourced rather than in-house is appealing as it reduces costs and capex considerably. They are looking at a wide range of cloud options now – such as Amazon Web Services or Microsoft’s Azure.”
It seems wherever Volante is headed, Oddiraju feels confident.
“Payments and regtech are two of the biggest budgets in the banking and securities industry; we have extensive proven experience in both of these and we’re very happy to be operating within these markets at this time.”
This article is also featured in the October 2017 issue of the Banking Technology magazine. Click here to read the digital edition – it is free!
