A Groundbreaking Partnership: Standard Bank Dives Into the Cloud with Volante Technologies
LONDON, 29 October, 2024 – Well, folks, it looks like Africa’s largest bank, Standard Bank, is about to take a quantum leap into the modern banking era. They’ve just jumped on the Payments as a Service (PaaS) cloud train with Volante Technologies, and let me tell you, it’s more ambitious than a cat trying to swim in a shark tank! This partnership is set to transform client experiences faster than you can say, “Where’s my money?”
So, what’s the big deal? Standard Bank is strutting its stuff as Africa’s biggest bank in assets, teaming up with Volante to modernize payment infrastructure that stretches across the continent. We’re talking about one of the most monumental PaaS payment deals in history – I mean, it’s so grand, even the Queen would be impressed! No other payment provider is servicing this many countries for a single customer. An overachiever? Maybe. But, hey, Africa is one diverse plate of challenges, so why not take a bite out of them?
What’s the secret sauce behind this partnership? It’s all about Volante’s fancy tech, specifically the PaaS and Embedded Preprocessing. They’re not just throwing in a shiny new system; they’re actually consolidating multiple payment formats into a neat package that can dance along with the bank’s existing infrastructure. It’s like fitting a square peg into a round hole, but, you know, without all the splinters and awkward glances!
This modern magic is already live in South Africa, and it’s just the tip of the iceberg. Imagine slashing through the complexity of domestic and cross-border payments like a hot knife through butter. “But, will it improve my customer experience?” you might ask. Yes, indeed! It’s like getting a poorly assembled IKEA shelf, but instead, you’ve got a professional carpenter showing up with all the tools. Efficiency and customer satisfaction? Now that’s a combo platter worth drooling over!
“Our collaboration with Volante goes beyond much more than just a working partnership; it represents a pivotal moment in our evolution, built on trust and cultural alignment.”
Bessy Mahopo, CIO (CIB – Transformation Programmes), Standard Bank Group
Great quote, Bessy! But let’s spice it up a little: “Pivotal moments” could easily be the tagline for a cheesy romantic movie, but in this case, it’s more about tech and trust than, well, love. Standard Bank is busy passing its rigorous vetting process like it’s a gym test, and Volante has come through with flying colors! Their tech is like that favorite pair of shoes you just can’t let go of; it fits just right.
Now, hang on tight! This partnership promises to expand into 18 other African countries. If you thought a road trip was long, try modernizing payment systems across Africa – you’ll need a really good playlist! They’ll be integrating with over 50 clearing and settlement systems while maintaining continuity. It’s like managing a wedding party with a gazillion guests who all want their cake: complex, yet beautifully executed!
Of course, the real kicker here is the move towards ISO 20022 standards. You know, that standard that makes payments smoother than a freshly waxed floor? It’s all about addressing major pain points for banking clients, which Volante cleverly identified, including cross-border payments that used to take longer than a snail’s pilgrimage to the finish line. The pain points are like a bad sitcom that nobody wants to watch, but this initiative is promising a script rewrite!
In a cheeky twist, Volante’s EVP of Product, Deepak Gupta, is bursting with pride. And he should be! “Our solution enables rapid time-to-market,” he says, as if it’s the latest superhero movie title. Lower costs and fostering innovation? Sounds like a win-win. It’s like cooking your favorite meal that not only tastes great but also doesn’t give you indigestion!
So, to sum it up, this Standard Bank and Volante partnership is not just shaking hands; it’s a whole extravagant dance routine! Together, they’re transforming the payments landscape, and who knows, maybe they’ll even toss some financial flourishes into the air while they’re at it!
Want to learn more about this shindig? Well, you can check more about Volante Technologies’ Payments as a Service or get the lowdown on Embedded Preprocessing. If this doesn’t get your financial juices flowing, I don’t know what will!
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Africa’s largest bank embraces cutting-edge payments infrastructure by transitioning to Volante’s cloud Payments as a Service (PaaS), enhancing customer experience while facilitating rapid adoption of ISO 20022 standards.
LONDON, 29 October, 2024 – Volante Technologies, recognized as the foremost innovator in Payments as a Service (PaaS) globally, proudly announces its groundbreaking partnership with Standard Bank, the largest bank by assets in Africa. This collaboration is setting a new precedent in the financial industry, representing one of the most ambitious PaaS agreements ever, as it covers a vast network of nations, with no other payment provider servicing such an extensive array of countries for a single client.
The innovative partnership is already operational in South Africa, utilizing Volante’s Payments as a Service (PaaS) and Embedded Preprocessing technologies. This powerful combination complements existing infrastructures, centralizing various payment formats and standards into one streamlined system. As a result, Standard Bank is poised to make significant strides in its broader, strategic transformation agenda, enhancing the efficiency of its domestic and cross-border payments, which include real-time, high-value, and bulk transactions, ultimately elevating the customer experience for its Corporate and Investment Banking clients.
In addition, integrating Volante’s platform significantly accelerates Standard Bank’s adoption of ISO 20022 standards, providing advantages not only for the bank itself but also for its diverse clientele. William Kent, Executive Business Head at Standard Bank emphasized that this initiative will soon extend to 18 more countries in Africa, seamlessly integrating with the bank’s legacy systems while managing an impressive array of over 50 clearing and settlement systems, thereby ensuring operational continuity and comprehensive scalability.
“Our collaboration with Volante goes beyond much more than just a working partnership; it represents a pivotal moment in our evolution, built on trust and cultural alignment,” said Bessy Mahopo, CIO for CIB transformation programs at Standard Bank. “Volante distinguished itself by passing our rigorous vetting process with flying colors and stood out for its transparency and unwavering spirit of partnership. Their PaaS technology is a perfect complement to our needs. Together, we are transforming the payments landscape while empowering communities and fostering growth across Africa.”
Volante Technologies’ Payment Modernisation: The Big Survey 2024 identified four major pain points for banking clients: the efficiency and speed of cross-border payments, the cost of payment processing, real-time or intraday liquidity management, and seamless integration with bank systems via APIs. Standard Bank’s shift to Volante’s PaaS and Embedded Preprocessing solution directly addresses these challenges, improving overall client experience and operational performance.
“We are proud to partner with Standard Bank and support its ambitious payment modernization goals,” Deepak Gupta, EVP Product, Engineering & Services at Volante Technologies, stated. “Our PaaS solution aligns perfectly with the bank’s needs, enabling rapid time-to-market, lowering costs, and fostering innovation. We eagerly anticipate collaborating closely with Standard Bank as it continues to expand across the continent, applying the full strength of our technology to deliver superior experiences for corporate treasury customers.”
To learn more about Volante Technologies Payments as a Service, please visit and for more information on Embedded Preprocessing, please visit
