Volante Technologies

Volante Technologies operates as a partner for financial institutions seeking to modernize their payment systems and accelerate digital transformation. The company was founded in 2001 by Vijay Oddiraju, Uday Thakur, and Venkat Malla, who identified a need to help financial businesses automate and digitize their processes, a foresight that proved valuable during the 2008 financial crisis. The founders brought with them extensive experience from technology companies like Oracle and Sequent Computer Systems (now IBM). Vijay Oddiraju, the CEO, and his co-founders leveraged their backgrounds in computer science and enterprise technology to build what would now be termed a "low-code" platform, even before the term became mainstream.

The company's business model is centered on providing cloud-native, real-time payment processing solutions through a Payments as a Service (PaaS) model. Revenue is generated primarily through licensing of its software and subscription or usage-based fees for its PaaS offerings, creating a recurring revenue stream. Volante serves a global client base that includes some of the world's largest financial institutions, such as four of the top five global corporate banks and two of the largest card networks. Their solutions manage mission-critical transaction processing, handling trillions in value daily.

Volante’s core product is a low-code platform designed for financial messaging, data integration, and payment processing. This platform enables financial institutions to move away from legacy systems and adapt to modern standards like ISO 20022 and real-time payments. Its services include a comprehensive suite for processing all payment types, a financial integration platform that uses visual modeling tools, and a payment intelligence solution for real-time transaction insights. A key achievement for the company was processing the first real-time payment in the United States. After nearly two decades of organic growth, Volante secured its first external funding round of $35 million in 2020, followed by subsequent rounds that brought total outside investment to $116 million, with participation from notable investors like BNY Mellon, Citi Ventures, and Wells Fargo.

Keywords: Payments as a Service, PaaS, financial messaging, cloud payments, payment modernization, low-code platform, real-time payments, ISO 20022 migration, financial data integration, corporate banking solutions, transaction processing, payment hub, digital transformation, cross-border payments, financial technology, payment automation, bank payment solutions, ACH processing, Fedwire transactions, payment intelligence