MMA loans

Afirme uses Volante Technologies to modernize its payment infrastructure

Cross-border payment volumes in Mexico are growing twice as fast as the global average. Since Afirme has many business customers who rely on fast and secure international transactions, the bank expects the volume of cross-border transactions to increase exponentially due to this boom in international business and in anticipation the opening of its own branches in North America.

Raul Arzate-OrtizOffice of the Director of the Comptroller, Money MarketsAffirmed, said, “As we look to improve our customer experience and grow domestically and internationally, payments modernization is a top priority for us. Fully automating and accelerating cross-border payment processing with Volante is an important first step.

“Volante has helped us reduce SWIFT processing time from hours to seconds, so our customers can receive international funds in near-immediate settlement, even as the volume of requests continues to grow,” said he added.

Confirm selected Volante VolPay over competing solutions due to its modern, low-code business services architecture, deep functionality, and ease of integration with new and existing banking systems. By partnering with Volante, the bank can also accelerate its customer experience modernization roadmap by launching new value-added services based on the ISO 20222 messaging standardand offering next-generation cross-border payment types such as SWIFT and gpi.

“With Volante, we have successfully automated all of our SWIFT processing. We also expect to be able to smoothly handle increases in transaction volume of an average of 20% per year. In addition, we will be able to offer our customers a greater variety of international transaction payment types and a data-rich experience as we prepare for ISO 20222 readiness – all with one solution,” said, Raul Arzate.

With this deployment at Afirme, Volante’s payment solutions are now available at several major banks and stock exchanges. Latin Americaprocessing more than 1,800,000 transactions per month on average.

“With half the population in Latin America unbanked, there is a significant opportunity for financial firms in the region to grow their market share through digital innovation, while expanding financial inclusion. We are proud to work as a trusted partner of Afirme, providing them market-leading payment solutions to advance their customer experience and digital modernization goals. Together, we can achieve our shared vision of a world in which real-time digital financial services are easily and equitably accessible to all,” said Vijay OddirajuCEO, Volante Technologies.

To learn more about how banks Latin America outperform their global peers, read Volante’s latest blog. You can also meet the Volante team in person at FELABAN Guatemala at November 14 to 15, 2022.

About Volante Technologies

Volante Technologies is the world’s leading provider of cloud-based payment and financial messaging solutions to accelerate digital transformation. We serve as a trusted partner to more than 100 banks, financial institutions, market infrastructures, clearing houses and corporate treasuries in 35 countries. Our solutions and services process millions of transactions and trillions of value every day, powering four of the top five corporate banks, 40% of all US commercial bank deposits, and 70% of global card traffic. As a result, our customers can stay ahead of emerging trends, become more competitive, deliver superior customer experiences, and grow their businesses through rapid innovation. To learn more, visit www.volantetech.com. follow us on linkedin.com/company/volante-technologies and twitter.com/volantetech.

About Afirme

Afirme Grupo Financiero integrates banking and financial services through subsidiaries such as Affirm Bank in 30 states of the Mexican Republic and a large network of ATMs. Afirme Seguros ensures the safety of people and property for individuals (auto, home, life insurance, life module) and companies (car fleet life insurance, business life insurance). Afirme Arrendadora is a source of financing for individuals and companies for the purchase of national and imported fixed assets. Afirme Factoraje supports our clients in the rapid conversion of their accounts receivable and the financing of short-term working capital. Afirme Almacenadorawith modern facilities and strategic locations, offers companies and individuals warehousing, custody and preservation services for national and foreign goods. Inversion Bank has an offer that includes a wide range of products providing access to diversified financial markets. Microfinance offers a wide range of consumer loans. www.afirme.com

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SOURCEVolante Technologies, Inc.