Industry veteran joins cloud payments modernization provider at a time of accelerating growth and increasing market opportunity
NEW YORK, Sept. 7, 2023 /PRNewswire/ -- Volante Technologies, the global leader in cloud payments modernization, today announces the appointment of David Weber as chief operating officer. This appointment comes at a pivotal time of accelerating growth for the company amid rapidly increasing market opportunity in payments modernization.
Recent research from IDC underscores the significance of this opportunity, indicating that the cost to financial institutions of maintaining their legacy technology continues to increase by 7.8 percent annually. It also reveals the rising cost of delaying migration to modern, future-proofed platforms: banks could miss out on a 42 percent increase in additional payments revenue and savings on legacy costs of up to 21 percent annually.
"I've worked closely with Volante in an executive advisory capacity over the past six months," said David Weber, COO, Volante Technologies. "Over this time, I've learned that the company has a compelling value proposition, a fast-growing blue-chip customer base of over 150 financial businesses globally, including seven of the top ten U.S. banks, and an enviable track record of continuous innovation."
Weber continued, "I look forward to now being part of Volante's executive leadership team as COO to guide the company through its next growth phase and extend its market dominance as a provider of compelling cloud payments as a service and low-code financial integration solutions."
With a wealth of experience spanning over 25 years in B2B enterprise software and SaaS, Weber has dedicated much of his career to driving growth for fintech companies. He has held executive positions in operations and finance at Charles River Development and AxiomSL, where he played a crucial role in expanding his footprint and market share. More recently, David served as an executive advisor at Technology Crossover Ventures (TCV), offering strategic guidance to portfolio companies, and was interim chief financial officer at Mambu.
Vijay Oddiraju, CEO of Volante Technologies, said, "I am delighted to welcome David Weber as Volante's COO. His deep fintech experience and varied executive leadership skill set are an ideal fit for Volante at this stage in our evolution. Over the last three years, Volante has led the field as the global top-selling provider of wholesale payments solutions. David's contributions will further advance our market position and enable us to continue delivering cutting-edge cloud payments solutions to our customers worldwide."
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About Volante Technologies
Volante Technologies is the trusted cloud payments modernization partner to financial businesses worldwide, giving them the freedom to evolve and innovate at record speed. Volante's Payments as a Service and underlying low-code platform process millions of mission-critical transactions and trillions in value daily, so customers can focus on growing their business, not managing their technology. Real-time ready, API enabled, and ISO 20022 fluent, Volante's solutions power four of the top five global corporate banks, two of the world's largest card networks, and 66 percent of U.S. commercial deposits. Learn more at www.volantetech.com and linkedin.com/company/volante-technologies.
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SOURCE Volante Technologies, Inc.