VolPay Channel : Open Banking

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Overview

Building on Volante’s VolPay Channel business application, the VolPay Channel: Open Banking solution enables banks to rapidly integrate their back office servicing applications, including payment engines and core banking account holding systems, with the front end API management layer, that provides the secure managed access to the banks environment via defined APIs.

Key Features

  • Content and Context aware data processing – the solution will recognize the particular API request (JSON/ISO 20022 based format) and transform to the appropriate target system data format
  • Orchestration of data flows from API Gateway to/from back office applications – after transformation, the application will route the resulting request to the relevant back office application; new routes to different target applications can be easily configured through business rules
  • Handling of API request status notifications – the relevant response messages can be generated by the application
  • Support for JSON, ISO 20022, Custom formats – Volante supports an extensive range of data formats, as well as enabling easy modeling (and transformation to/from) of proprietary legacy system data structures; many transformations are available out of box and/or can be developed by our message standards teams
  • Fully audited processing of in and outbound messages – all processing of API message flows/transformations/exceptions is fully audited
  • Platform deployment agnostic – Volante’s Java based products and developed code is fully platform agnostic and therefore can be targeted at any operating environment and can be easily deployed on a bank’s existing middleware, integrated into applications or run as a standalone application.
  • Integration via RestFUL APIs or in-house mechanisms via existing ESB/Middleware – all processing in the VolPay Channel: API Bridge solution can be executed via Rest APIs; we also support easy integration to interfacing solutions via REST API
  • Dashboard for operational control – Banks’ Operations teams will have access to full monitoring of the API messages flows and metrics can be easily extracted
  • 24x7 operation – all Volante solutions are OSGi compliant and support non-stop operation with hot swapping

Key Benefits

  • Easy to configure new transformation mappings – message and data transformations can be easily modified or created using the provided Volante toolkits
  • Highly scalable – the VolPay solution is designed to allow elastic scaling according to processed volumes. Some of the very largest financial institutions in the world depend on Volante Technologies for the timely processing of very large volumes of data

Product/Service details

Geographic Availability
Africa, Central America, Europe, North America