KPMG Forms a Partnership with Volante Technologies for Real-Time Payments

Volante Technologies, the global leader in cloud payments and financial messaging, and KPMG are joining forces to offer financial institutions comprehensive ISO 20022 and real-time payments (RTP) readiness diagnostics.

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The strategic alliance will offer banks a winning combination of cloud-native payment solutions and related advisory, enabling banks to modernize their payments processes and operations faster than ever.

As a result, banks and payment service providers can start their real-time payments journey immediately with The Clearing House RTP, and prepare for new instant payment schemes such as the FedNowSM Service as they become available. More so, financial institutions will be able to  modernize their legacy wire and ACH payment systems, and strategically position themselves for emerging payments trends such as connected or embedded banking. In addition, they will become ISO 20022 compliant.

"ISO 20022 and RTP represent watershed moments in payments and serve as catalysts for change with the opportunity for banks to provide a better payment experience and value-added solutions for corporates. While the ISO 20022 compliance deadline may seem far away, 2022 is the critical year for banks to ensure they have a clear strategy and plan for ISO 20022 readiness given the complex legacy IT environments of many banks,"said Courtney Trimble, Principal, KPMG, and Global Head of Payments.

"KPMG brings deep banking and payments industry experience with strong insights into ISO 20022, real-time payments, and payments modernization – both from a consulting and regulatory perspective,"said Jim Chow, VP of Partnerships, Volante Technologies."Together, KPMG and Volante will give financial institutions the freedom to adapt to the fast-evolving payments landscape by turning the challenges of ISO 20022 migration and real-time payments enablement into a strategic business advantage."