Azqore used Volante Technologies' PaaS technology for SEPA fast payments

The Swiss-headquartered company plans to integrate Volante's Payments as a Service (PaaS) technology into its core banking infrastructure to ensure compliance with the European Commission's new SEPA instant payments mandate.

The cloud-based, API-driven solution enables real-time payment processing with transaction confirmation within 10 seconds, while also meeting SEPA fraud detection and sanctions requirements. PaaS Volante also supports the ISO 20022-Global ISO standard for the exchange of financial messages which improves the quality of the data and the interaction between the different payments-elaboration-Recupects for the previous azqore selection on the low Volante ISO service code 20022 in 2022.

"Thanks to Paas Volante, we can quickly bring new instant payments and ISO 20022 services," explains Belhassen Belkhin, director of products and operations in Azqore. The SEPA obligations set by the European Commission require service providers operating in the eurozone to take steps to enable instantaneous payment receipts by December, and a year later they will also have to implement technology to enable instantaneous transfers. "As consumer demands continue to evolve, it is critical that financial institutions of all kinds have the solutions they need to stay competitive, especially as the pace of regulatory change accelerates," adds Anders Orneman, IT Manager - Commercial and Operations at Azcor.

Operating as a subsidiary of Indosuez Wealth Management, the asset management division of the Crédit Agricole Group, Azcor operates the S2i platform, an integrated technology solution that serves front office, customer and post-trade functions, retail banking, lending and investments.