Volante Technologies, a global provider of Payments as a Service (PaaS), has introduced its Multi-cloud Resiliency Service. This new offering is designed to maintain financial institutions’ payment operations without interruption during significant cloud provider outages, providing cross-cloud continuity to mitigate reliance on a single cloud environment.
Vijay Oddiraju, CEO at Volante Technologies, stated, “Payments are the lifeblood of the global economy, and downtime is not an option. Operational resilience must be engineered and continuously proven, not treated as a document on a shelf.” He added that the service aims to provide confidence to financial institutions and peace of mind to their customers regarding banking experiences.
Recent large-scale outages across hyperscale cloud providers have highlighted the impact of cloud concentration risk on banks, leading to delayed or failed transactions, SLA penalties, customer churn, operational recovery costs, and reputational damage. Industry estimates suggest financial sector outages can exceed $2 million per hour, with potential financial exposure for many institutions far surpassing this average, making resilience a business imperative.
Volante’s Multi-cloud Resiliency Service facilitates rapid cross-cloud disaster recovery (DR) failover to a secondary cloud environment. This process involves a brief switchover window and ensures zero data loss. PaaS clients can opt into the service with minimal configuration changes, while Volante manages ongoing operational readiness and testing. This approach assists financial institutions in meeting regulatory expectations such as DORA and other global operational resilience frameworks.
Deepak Gupta, Chief Product, Engineering, and Delivery Officer at Volante Technologies, commented, “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.” He noted that the Multi-cloud Resiliency Service is purpose-built for payments, enabling processing continuity when a primary cloud environment is unavailable and helping clients meet global regulatory demands.
Building upon Volante’s existing SaaS service, the Multi-cloud Resiliency Service enhances an already secure and highly available foundation with additional layers of continuity and protection. The service incorporates data access restrictions, role-based entitlements, and encryption for data both at rest and in transit. It maintains enterprise assurance through recognized certifications, including PCI DSS 4.0, SOC 1 Type 2 and SOC 2 Type 2, ISO 27001, ISO 27017, ISO 27018, ISO 22301, and ISO 27701.
Volante plans to expand the Multi-cloud Resiliency Service in the future to include enhanced cross-cloud capabilities, additional automation, and predictive analytics to support proactive resilience planning and execution. Volante Technologies serves as a cloud payments modernization partner globally, with its low-code platform processing millions of transactions and trillions in value daily for customers, including major corporate banks, U.
S. banks, and card networks.
