Lakeside Bank taps Volante Technologies to modernise payment services

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Lakeside Bank taps Volante Technologies to modernise payment services

By Gloria Mathias

October 15, 2024

  • ACH Colombia
  • Cloud Payments
  • Colombia

Lakeside Bank taps Volante Technologies to modernise payment servicesVolante Technologies, the global Payments as a Service (PaaS), has announced that Lakeside Bank, a community bank in Chicago, has selected Volante to enhance its SWIFT messaging and implement end-to-end real-time payments via RTP® from the Clearing House and FedNow® from the Federal Reserve.

To build on this momentum, Lakeside started its payments modernisation collaboration with Volante with SWIFT pre-processing to ensure ISO 20022 compliance for cross-border payments ahead of upcoming deadlines. The partnership is now focused on the deployment of real-time payments with RTP, marking an advancement in Lakeside’s ability to offer real-time treasury services to its customers.

“Partnering with Volante is instrumental in levelling the playing field between Lakeside Bank and the world’s largest financial institutions as we seek to add new services such as real-time payments from RTP and FedNow. Volante’s Payments as a Service empowers us to offer faster, more efficient, and reliable services that rival those of the biggest banks,” said Matthew Palmisano, Senior Vice President and Director of Treasury Management at Lakeside Bank.

Lakeside has identified Volante as a treasury management services partner that helps the bank embrace new technology, expand its digital payment solutions, and offer customers more advanced real-time data analytics tools.

“Volante gives us the tools to help our clients work more efficiently and save money, including those with extremely high transaction volumes, such as large commodity exchanges. This partnership enables Lakeside to provide our clients with world-class technology, reinforcing our commitment to delivering exceptional service and allowing us to effectively compete with banks of any size,” concluded Palmisano.

Lakeside joins a growing number of FIs that have adopted Volante’s PaaS to achieve their payment modernisation goals, as evidenced by Volante’s recent recognition by IBS Intelligence as the ‘Best Provider of Wholesale P payments systems in North America.

“At Volante, we are committed to empowering community banks like Lakeside to compete effectively with larger institutions by providing them with the same cutting-edge technology that powers seven of the top ten U.S. banks,” said Vijay Oddiraju, CEO, Volante Technologies. “Lakeside gains a strategic advantage by deploying our innovative payment solutions to modernise their infrastructure and enhance their service offerings.”

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