Standard Bank, a leading African financial institution, is overhauling its payments infrastructure by partnering with Volante Technologies and leveraging its cloud-based Payments-as-a-Service (PaaS) solution. This collaboration, now live in South Africa, aims to streamline Standard Bank’s domestic and cross-border payments while accelerating the adoption of ISO 20022 standards across the African continent.
Volante’s PaaS: Simplifying Payments
Volante’s Embedded Preprocessing feature integrates seamlessly with Standard Bank’s current infrastructure, consolidating various payment formats and standards into a unified system. This setup is expected to improve efficiency and customer experience for corporate and investment banking clients by simplifying complex payment processes, including real-time, high-value, and bulk payments.
Bessy Mahopo, CIO for CIB transformation programs at Standard Bank, shared, “Volante’s PaaS technology meets our needs perfectly and aligns with our commitment to growth and community empowerment. Together, we are transforming Africa’s payments landscape.”
Expanding Across Africa
Following its implementation in South Africa, the partnership will extend to 18 additional African countries, covering over 50 clearing and settlement systems and integrating with Standard Bank’s legacy systems. This wide-scale deployment will support seamless operations across the continent, enhancing Standard Bank’s role in Africa’s financial ecosystem.