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Volante Technologies, MDSL to Modernise Payments in Egypt

Cloud payments and financial messaging provider Volante Technologies has partnered with MDSL, a specialist in the integration of turnkey banking solutions in the Middle East, to automate banking payments in Egypt.

The partnership has already seen its first success, having signed a contract with a major Egyptian bank. Volante will provide payments solutions and related onboarding and set-up services while MDSL, an ITG company, will help with the integration and provide local support services.

With a payments market size of over USD 5 billion and an increasingly digitally adept population, Egypt-based banks have a significant opportunity to grow their payments portfolios. However, many are still held back by legacy systems which limit their ability to provide the real-time and information-rich experiences that consumers and corporations have become accustomed to from tech giants like Facebook, Amazon, and Google.

Modern payments platforms based on microservices technology allow banks and financial institutions to break free from legacy software limitations and soar beyond competitors by offering real-time 24/7 customer-centric solutions – benefitting a wide variety of customers as many more domestic and cross-border payment services can be brought to market faster.

Volante a long time Ripple partner has created the The VolPay Ripple Processor Module which speeds up integration to the Ripple Global Settlement Network.

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Let’s not forget yesterday article where the Egyptian Central Bank Approves Use of RippleNet.

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