Volante Technologies, the world leader in Payments as a Service (PaaS), has launched its new Multi-Cloud Resiliency Service, designed to help financial institutions continue their payments processing activities without interruption even in the event of a major outage of the cloud providers. The new service is a significant addition to the existing business continuity solutions.
With the recent cloud outages highlighting the risks associated with hyperscale clouds, financial institutions are increasingly vulnerable to risks of transaction slas, customer churn, recovery costs, and reputational damage. Studies have revealed that financial institutions can incur losses of over $2 million per hour due to outages, and this risk is much higher for larger financial institutions.
Engineered for True Cross-Cloud Continuity
Built on Volante’s cloud-native payments platform, the Multi-Cloud Resiliency Service delivers rapid cross-cloud disaster recovery (DR) failover to a secondary environment, ensuring minimal switchover time and zero data loss. Financial institutions using Volante’s PaaS can adopt the service with minimal configuration changes, while Volante manages ongoing testing and readiness to help align with global operational resilience regulations such as DORA.
“Payments are the lifeblood of the global economy, and downtime is not an option,” said Vijay Oddiraju, CEO at Volante Technologies. “Operational resilience must be engineered and continuously proven, not treated as a document on a shelf. Our Multi-cloud Resiliency Service keeps payments running through major cloud disruptions, giving financial institutions confidence and their customers peace of mind in their banking experience.”
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The offering also addresses cloud concentration risk head-on, a challenge many banks now recognize as a revenue-, reputation-, and regulation-related issue.
“Cloud concentration risk isn’t theoretical it’s a direct revenue, reputational, and regulatory issue for financial institutions, and single-provider architectures simply cannot meet resilience expectations as payments become increasingly cloud-native,” said Deepak Gupta, Chief Product, Engineering, and Delivery Officer, Volante Technologies. “Our Multi-cloud Resiliency Service is purpose-built for payments, enabling cross-cloud processing continuity when a primary cloud environment is unavailable, while helping our clients stay ahead of global regulatory demands.”