Mexico-based cloud payments company Volante Technologies has partnered with Banca Afirme to modernise its payments infrastructure. As part of the digital transformation initiative designed to augment its customers' banking experience, the bank has begun its modernisation journey by automating SWIFT cross-border transaction processing.

ISO 20022 readiness and the addition of other cross-border payment types are next in line. Cross-border payment volumes in Mexico are rising twice as fast as the global average, as per the press release. Since Afirme has numerous business customers that rely on fast and secure international transactions, the bank expects the volume of cross-border transactions to grow exponentially as a result of this international business surge and in anticipation of the opening of its own branches in North America.

Afirme’s representatives explained that Volante has helped them reduce SWIFT processing time from hours to seconds, so that their customers can receive international funds within a near-immediate settlement instance, even as the volume of requests continues to grow. Afirme selected Volante's VolPay over competing solutions because of its low-code business-service architecture, deep functionality, and ease of integration with new and existing bank systems. By partnering with Volante, the bank can also accelerate its customer experience modernisation roadmap by launching new value-added services based on the ISO 20222 messaging standard, and by offering next-generation cross-border payment types such as SWIFT and gpi.

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