The firm with its headquarters in Switzerland plans to include Volante's Payments-as-a-Service (PaaS) technology into its core banking infrastructure in order to comply with the upcoming SEPA quick payments mandate from the European Commission.

The SEPA-mandated fraud detection and sanctions screening criteria are met by the cloud-native, API-driven system, which also enables real-time payment processing with transaction confirmation in less than 10 seconds.

Building on Azqore's earlier choice of Volante's low-code ISO 20022 service in 2022, Volante's PaaS also supports ISO 20022, a worldwide standard for financial communications that enhances data quality and interoperability between various payment systems.

Belhassen Belkhechine, product manager for payments and operations at Azqore, says, "We can bring new instant payments and ISO 20022 services to market faster with Volante's PaaS."

Service providers operating in the Eurozone are required by the European Commission's SEPA mandate to implement procedures by December that guarantee them the ability to receive fast payments. They will also need to use technology that allow them to deliver payments instantly after a year from now.

Anders Ohrneman, head of IT post-trade and operations at Azqore, says, "As customer demand continues to evolve, it is crucial that financial institutions of all kinds have the solutions they need to stay competitive, especially as we're seeing an increase in the pace of regulatory change."

Managed as a division of Crédit Agricole Group's wealth management division, Indosuez Wealth Management, Azqore runs its S2i platform, an integrated technology platform that supports front office, retail, corporate, investment banking, client and post-trade, and client services.