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CITI Bank Extends Partnership With Volante’s VolPay

Volante Technologies, the global leader in cloud payments and financial messaging, and Citi Treasury and Trade Solutions (Citi) are deepening their longstanding relationship to accelerate the bank’s adoption of the ISO 20022 financial messaging standard across its global payments operations. As a result of this collaboration, Citi will be the first Volante customer to offer a unified approach to ISO 20022 migration across the globe.

Citi will be building its core ISO 20022 capability using Volante’s VolPay For ISO 20022 Migration solution. This solution will enable the sending and receiving of ISO 20022 messages and also enable the usage of the ISO 20022 enhanced data throughout the transaction lifecycle for sanctions screening, AML monitoring, reporting and reconciliation. VolPay is well positioned to support the complexity and the global scope of change that Citi requires for the ISO 20022 adoption within the mandated timelines. Pre-defined ISO 20022 canonical schema, which cover SWIFT CBPR+ and multiple payment schemes, make it easier to onboard new schemes and countries onto the solution.

Citi will be the first Volante customer to offer a unified approach to ISO 20022 migration across the globe. Citi will be building its core ISO 20022 capability using Volante’s VolPay For ISO 20022 Migration solution.  VolPay is 1 of the 3 Products in which Volante offers.  Volpay is the world’s most complete ecosystem of business services for payments modernization and innovation, helping banks of all sizes manage the pace of change while continuing to delight customers and grow market share.

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