Fintech provider Volante Technologies will expand its R&D operations in Chennai.
What’s it about? Global financial technology provider Volante Technologies will ramp up its R&D capabilities in the city. The company has more than 75% of its workforce in India, spread across Chennai, Pune, and Hyderabad. The company provides payment solutions to small banks and other fintech companies.
- The company’s R&D focuses on improving low code-no code, cloud-based platforms in a cost-efficient manner. The company sees potential in payment services since the adoption of ISO 20022 standardisation.
- The R&D team works on a tech stack of no-sequence databases, streaming, and containers. It also deals with Web3-based payment solutions with crypto and blockchain players.
Origins and functioning: The company, headquartered in New Jersey, was founded by members of the Indian diaspora. Among its customers are Goldman Sachs and other top 8 US banks. CEO Vijay Oddiraju said the company’s services saw a considerable increase in demand since the pandemic began. The company has grown by 50-60% each year since 2019.