Volante Technologies and Finexus Team Up to Build New Real-Time Gross Settlement Systems

Volante Technologies Inc., a global leader in the provision of software for the integration, processing and orchestration of financial messages and payments, today announced it has been selected by Finexus to provide the key MT to MX message transformations in complex multi-currency Real-time Gross Settlement System implementations.

Finexus is a Malaysian based and Asia Pacific region digital payment solutions provider.

Finexus and Volante’s first project in the Asia Pacific region is a sizable multi-year implementation at a central bank and is part of a grander, global internationalization and modernization process, to build and sustain real-time gross settlement and scripless securities systems in the region.

Allan Spalding, Partners Director, Volante Technologies, commented, “Global competitiveness and the need for more efficient and reliable settlement systems we believe will continue to be on-going drivers for central banks throughout the world for some time to come and we wholly commend both Finexus and the bank, for playing their parts, early in this cycle of evolution. Our expertise lies in easing complex implementation and integration projects. To be chosen by Finexus to provide the critically important MT to MX transformations initially, in such a systemically important project, we believe, is a glowing testament of our capability and reliability. We look forward to working with Joel and the Finexus team on future implementations across the Asia Pacific region.”

Joel Choo, Executive Vice President, Finexus, commented, “When selecting our partner to provide key message transformations, we went through a stringent evaluation and were impressed by Volante’s open architecture, independence, as well as their experience with messaging implementation in critical financial infrastructures in both large financial institutions and national infrastructures. The bank with whom we are working, is at the forefront of a global movement in the adoption of message standardization, and through our partnership with Volante we are able to deliver a modern, sophisticated system that provides customers with more choice, which is increasingly important in this competitive digital age.”