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The Australian challenger bank claims its Volt 2.0 project will allow business partners to provide full-service banking and payments to their own clients. It will act as an extension of Volt’s existing partnership network and envisions retail partners offering banking services to their customers directly or through loyalty programs.
Steve Wilson, CEO and founder of Volt, says his firm’s platform technology sets it apart from other challengers in Australia. He adds that Microsoft “ticks all the boxes” from the perspective of scaling the bank. “Volt 2.0 will need to have the capability to adapt to the changing market and the evolving needs of our customers and partners, as well as the evolving technologies available in the market.” Microsoft’s managing director for Australia, says the deal is “unique” in the sector. He adds that it brings “the best” of Microsoft’s technology, engineering skills and “banking know-how” together. “Volt 2.0 has the potential to radically reshape financial services in Australia and globally.”
https://www.fintechfutures.com/2020/09/volt-bank-partners-with-microsoft-to-launch-baas-platform/
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