Iceland's leading bank strengthens its modern payments infrastructure and partners with Volante to support long-term innovation and growth
Volante Technologies, the global leader in Payments as a Service (PaaS), announced a strategic partnership with Iceland's leading financial institution, Arion Bank, to modernise and future-proof the bank's payments infrastructure, solidify its regulatory response, and prepare for an increase in transaction volume as part of its growth plan.
Arion Bank is one of Iceland's leading financial institutions and the third-largest bank in the country by assets. It offers a wide range of services in retail, corporate, and investment banking, providing smart and reliable financial solutions to individuals and businesses alike.
The bank sought to evolve its current payments hub by adopting a modern, API-driven, and scalable solution designed to support multi-rail processing and seamless integration with the emerging payments ecosystem. By partnering with Volante Technologies, Arion Bank will ensure compliance with the Digital Operational Resilience Act (DORA) and be prepared for the upcoming CBPR+ deadline of November 2025. The new platform will also enable readiness for SEPA Instant Payments (SEPA IP), expected to launch across the region in 2026/27, aligning with the bank's broader strategy for innovation and future-proofing its payments infrastructure.
"We needed a partner who could provide both the technology and guidance to help us navigate the complexities of evolving regulatory standards," said Björn Björnsson, CIO at Arion Bank. "Volante is a strong fit for our strategic objectives. As the partnership progresses, Arion Bank will explore additional ways to leverage Volante's innovative technology stack. The modular, component-based design of Volante's PaaS allows Arion Bank to implement and scale new products and services at their own pace, enabling agility to adapt to future market demands. Given Iceland's market size, this presents a significant competitive advantage."
"We are delighted to partner with Arion Bank, a leader in Iceland's banking sector," said Deepak Gupta, EVP Product, Engineering Services at Volante Technologies. "From the beginning, it was evident that Arion Bank understood the value we deliver beyond our cloud payments technology. We will continue to serve the organisation as a trusted partner throughout its modernisation journey, ensuring the team can meet its strategic business goals, including strengthening its compliance response and preserving its ability to adapt to change quickly."
To learn more about Volante Technologies Payments as a Service, please visit [https://www.volantetech.com/payments-as-a-service/]. For more information on Volante ISO 20022 Service, please visit [https://www.volantetech.com/news/volante-technologies-launches-service-to-accelerate-iso-20022-payments-modernization/].
About Volante Technologies
Volante Technologies is the trusted cloud payments modernisation partner to financial businesses worldwide, giving them the freedom to evolve and innovate at record speed. Real-time native, API enabled, and ISO 20022 fluent, Volante's Payments as a Service and underlying low-code platform process millions of mission-critical transactions and trillions in value daily. Volante's customers include four of the top five global corporate banks, seven of the top ten U.S. banks, and two of the world's largest card networks. Learn more at www.volantetech.com and linkedin.com/company/volante-technologies.
Arion Bank
Arion Bank is a leading Icelandic bank offering universal financial services to companies, institutional investors and individuals. These services include corporate and retail banking, investment banking, capital markets services, treasury services, asset management and comprehensive wealth management for private banking clients.
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