Volante Technologies, the New Jersey Software as a Service startup is aiming to grow its business and to meet that end it has hired two senior executives.
In a press release issued earlier this month, Volante Technologies said it appointed Harp Grewal, the company’s executive in residence and non-executive board director as its new Chief Operating Officer. Deepal Gupta, the former chief architect of Oracle’s hosted business will become Global Head of Software as a Service. Both are veterans in SaaS, payments and banking, and are expected to be pivotal for the company’s growth prospects.
“The digital transformation opportunity in financial services is colossal – payments alone is a $2tn industry, with transaction volumes set to double over the next decade,” said Volante Technologies Chief Executive Officer Vijay Oddiraju in a press release announcing the executive appointments. “As we grow rapidly and increase our market share, it is vital that we invest in our organisation to ensure we continue to deliver excellence and reliability for our clients today and into the future. Harp and Deepak bring unique qualities and experience to Volante and I am delighted to see them both join the team."
Volante Technologies, which was founded in 2001, is focused on improving financial message automation and end-to-end payment processing from capture through clearing. It was founded in Silicon Valley by a group of messaging experts who realized automating the integration of financial messages and data could reduce work, time and costs. It counts more than 90 financial institutions as customers and has clients spanning 35 countries.
With its technology and library of hundreds of plug-ins it says it enables financial institutions to complete projects in a fraction of the time it normally takes without having to completely overhaul existing systems. For just one client, the company processes more than 800 million transactions a day.
"It is clear that financial institutions large and small are looking for agile solutions to drive their digital transformation journeys,” said Gupta, the founder of PeopleSoft’s hosted business in the press release. “One such innovation is the rise of payments as a service, delivered in the cloud. Providing access to a unified on-demand cloud service alleviates the challenges of onboarding and complexity, and allows customers to benefit from reduced hardware, software and related people costs so they can focus on delivering value-added services to their end clients and remain competitive. I am pleased to bring my track record in SaaS to help Volante and its customers achieve these goals."
