Iceland’s Arion Bank has announced a partnership with US-based Volante Technologies to modernise its payments infrastructure.

The move is part of the bank’s broader strategy to enhance operational resilience, meet evolving regulatory requirements, and support increased transaction volumes in line with its growth objectives.

Headquartered in Reykjavík, Arion Bank is the third-largest bank in Iceland by assets and provides a wide range of retail, corporate, and investment banking services.

As part of its ongoing digital transformation, the bank is replacing its existing payments hub with a modern, API-driven platform capable of supporting multi-rail processing and seamless integration with emerging payments systems.

The updated infrastructure will enable Arion Bank to comply with the EU’s Digital Operational Resilience Act (DORA) and meet the Cross-Border Payments and Reporting Plus (CBPR+) deadline in November 2025.

It will also lay the groundwork for SEPA Instant Payments (SEPA IP), expected to be introduced across the region in 2026 or 2027.

“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, Chief Information Officer at Arion Bank.

“Volante is a strong fit for our strategic objectives.”

Björnsson noted that Volante’s modular, component-based platform allows for flexible implementation, giving the bank the ability to scale services as needed.

“Given Iceland’s market size, this presents a significant competitive advantage,”

he added.

With the new system, Arion Bank aims to bolster its long-term digital strategy while maintaining the agility required to respond to changes in the financial landscape.

Featured image credit: Edited by Fintech News Nordics, based on image by armmypicca via Freepik