The New York City-based American multinational investment banking company Goldman Sachs is launching a new digital transaction banking service in the cloud through a collaboration with Volante Technologies a global financial technology software firm that provides solutions for payments.
As reported by IBS Intelligence, the investment banking firm has partnered with the New Jersey-based company Volante Technologies for utilizing its payment technology for the development of this new digital banking platform. Reportedly, the newly-introduced platform of Goldman Sachs is powered by the VolPay Ripple Processor Module of Volante Technologies.
The Goldman Sachs Transaction Banking platform’s Managing Director and Engineering Lead, Luc Teboul says that in order for them to launch a digital transaction banking service for their clients, they required a top-notch technology as well as an ideal collaborator who could fully come upon their criteria. He said that they found Volante Technologies as their ideal partner.
He said in a statement:
“In launching digital transaction banking for our customers, we needed both cutting-edge functionality and the agility to meet ambitious targets. 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.”
The platform is completely API-enabled and it will let the banking firm assist its clients in opening an account in Cloud.
Volante Technologies’ Co-Founder and Chief Technical Officer (CTO), Uday Thakur calls Goldman Sachs an innovative organization and said that his company is very delightful in making a collaboration with this firm. He added:
“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.”
Along with aiding Goldman Sachs in launching its digital banking service, Volante Technologies has also become the first client of this platform.