Azqore Partners with Volante Technologies for SEPA Instant Payments: Key Points
- Partnership Announcement:
- Azqore, an IT and banking operations provider, has selected Volante Technologies to deliver SEPA instant payments and ISO 20022 messaging services.
- Integration Details:
- Azqore will integrate Volante’s Payments-as-a-Service (PaaS) into its core banking infrastructure.
- The solution is cloud-native and API-driven, enabling real-time payment processing with transaction confirmation in under 10 seconds.
- Compliance and Standards:
- The integration ensures compliance with the European Commission’s SEPA instant payments mandate.
- Volante’s PaaS also supports ISO 20022, a global standard for financial messaging, enhancing data quality and interoperability.
- Previous Collaborations:
- Azqore previously selected Volante’s low-code ISO 20022 service in 2022.
- Customer and Regulatory Benefits:
- Belhassen Belkhechine, Azqore’s payments and operations product manager, highlighted the ability to bring new services to market faster.
- The SEPA mandate requires Eurozone service providers to receive instant payments by December and send instant payments a year later.
- Market Competitiveness:
- Anders Ohrneman, head of IT post-trade and operations at Azqore, emphasized the need for financial institutions to stay competitive amidst increasing regulatory changes.
- Company Background:
- Azqore is a subsidiary of Indosuez Wealth Management, the wealth management arm of the Crédit Agricole Group.
- Azqore operates the S2i platform, supporting various banking functions including front office, client and post-trade, retail, corporate, and investment banking.
