Volante to power Banco Base domestic, global payments
Payment processor and financial messaging integrator Volante Technologies is partnering with the Banco Base financial group to provide end-to-end payments software for domestic and international payments.
Banco Base will implement Volante's VolPay service to help it deliver payments, currency exchange and foreign trade services for corporations and medium-sized businesses in Mexico.
VolPpay will process the bank's domestic real-time payments in Mexican pesos and U.S. dollars, while also moving cross-border payments through the Swift messaging network.
Banco Base has also expressed a desire to advance technology for real-time payments, P2P and expanded merchant services.
“With a rapidly changing payments landscape, we were looking for a payments infrastructure solution that could deliver on our current domestic and international payments needs and support our future growth strategy," Prudencio Frigolet, the IT and operations director at Banco Base, said in a Monday press release.
"Since developing an in-house solution was not an option, we particularly appreciated Volante’s ability to work with us as strategic partners, collaborating on roadmap priorities and allowing us to make the most efficient use of our own resources," Frigolet added.
Because of VolPay's scale and lower operating cost, Banco Base expects to expand the service to cover domestic bulk Mexican peso money-transfer payments and digital retail payments in the near future.
“Our relationship with Banco Base demonstrates our ongoing commitment to providing financial institutions in Latin America with the same powerful, flexible payments technology that powers the world’s largest banks—tailored to local market needs," Luis Melgarejo, vice president of Latin America operations for Volante Technologie, said in the release.
"We are proud that we were able to help Banco Base maintain its leadership position, and that VolPay is delivering the efficiency and functionality they need to grow and stay ahead in their payments business,” Melgarejo added.
Volante Technologies has offices in Jersey City, N.J., and London, as well as operations in Mexico and the Middle East. Banco Base is headquartered in San Pedro Garza Garcia in Mexico.