Lakeside Bank has partnered with Volante Technologies to enhance its payment processing capabilities by implementing real-time payments and optimizing SWIFT messaging. The partnership involves using Volante’s Payments-as-a-Service (PaaS) to support end-to-end real-time payment processing through RTP from The Clearing House and FedNow from the Federal Reserve.
This collaboration aims to modernize Lakeside’s payment infrastructure by ensuring compliance with ISO 20022 for cross-border payments and introducing efficient real-time treasury services. Volante’s flexible and secure architecture will allow Lakeside Bank to streamline operations, offer new payment products, and provide tailored solutions for clients, enhancing its competitive edge in global markets.
The integration of real-time payments will offer significant benefits for businesses, improving cash flows, reducing settlement risks, and providing immediate access to funds, which will minimize the need for short-term financing.