Banorte Teams up with Volante Technologies For Payments Modernization

​Grupo Financiero Banorte, a leading Mexico-based bank, today announced that it is working with Volante Technologies, which works in cloud payment processing and messaging, to modernise the its cross-border payment architecture. 

The new collaboration offers a range of benefits for Banorte-all related systems, including channels, will connect to Volante's VolPay to orchestrate and process cross-border transactions. 

In particular, VolPay is a “cloud-native” and “API-ready” system that provides “end-to-end processing of domestic and international payments.” according to Volante.

Mexican banks have a strong desire to innovate and differentiate, and are looking to work with providers that can help them move in that direction. Cross-border payments are an area where banks, technology providers, and fintech firms can effectively collaborate to increase industry-wide innovation and broaden the range of business and retail services.

As for Banorte, according to the official press release, payments modernisation is fundamental to its digitalisation journey. By unifying all its processes into one cloud-native, microservices-based platform with Volante, the bank will provide its customers with better financial services.  

Volante's goal, as described by Vijay Oddiraju, co-founder and CEO, is to “help financial institutions by providing modern solutions to simplify the complexity of their operations and accelerate business outcomes, from capital markets to custody to transaction banking.”

Ricardo Velazquez, managing director and head of international banking, trade and international FIs at Banorte, said in a press statement the partnership with Volante will enable the Mexico City-based bank to keep ahead of the competition by rolling out more payment types and more tailored services.