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BERTRANGE, Luxembourg,
June 12, 2018 /CNW Telbec/ - CGI
(NYSE: GIB) (TSX: GIB.A) is pleased to announce the launch of CGI
Open Finance, a solution built for the next wave of digital banking
and designed to empower banks to reap the benefits of the open API
economy, as well as address the challenges of open banking.
Open banking, whether driven by competition or regulation, is
breaking up the traditional banking value chain, opening up the
global banking industry, and profoundly changing the dynamics of
the banking market. Despite the challenges this presents, CGI sees
it as a great opportunity for collaboration. By leveraging CGI Open
Finance, traditional banks, with the advantage of their strong
reputations and longstanding customer relationships can now look to
develop new value propositions and revenue streams through
partnering with CGI and FinTechs.
"CGI Open Finance is modelled on our successful partnership with
a leading multinational which was looking to design, develop and
launch a new API-based bank said Frederik
Evrard, Vice-President, CGI in Luxembourg. "We are excited about the
opportunities it offers our clients. By incorporating the latest
technology and architecture with CGI's deep banking expertise in
open banking and the open API economy, we believe CGI Open Finance
can transform the industry."
CGI Open Finance is a complete solution for open banking,
enabling the integration of traditional banks and their
product-centric applications with FinTechs through an API and
orchestration layer. More than that, CGI Open Finance supports the
much wider set of non-functional requirements needed to operate an
industrial strength, secure and resilient platform required for the
new world of banking. It not only facilitates close collaboration
with third party providers (TPPs), but also enables banks to become
aggregators and provide the same services, driving real innovation.
With CGI Open Finance, banks can maximize the benefits of open
banking by offering new digital services and value-add partnerships
to their customers.
Moreover, with its state-of-the-art open banking architecture,
CGI Open Finance ensures complete compliance with the Revised
Payment Service Directive (PSD2) for European financial
institutions and, in the UK, compliance with the Open Banking
Implementation Entity initiative in line with the Competition and
Markets Authority (CMA). Its interfaces and non-functional
requirements have been defined based on PSD2 requirements and
leverage the power of APIs to open up the value chain for
banks.
Overall, CGI Open Finance leverages a wide array of everyday
banking functionalities out-of-the-box, including:
- Secure APIs for PSD2, CMA, STET and Berlin Group
transactions
- Building blocks for the management of TPPs, including an
enrolment portal, and consent management
- Continuous integration platform for quality control, automated
build and API testing
- Sophisticated analytics and smart security
- Access to API store
- Billing and monetization options
CGI helps its clients realize their transformational agendas by
bringing the latest thinking, innovation and technical know-how to
the fore. As a trusted partner to banks across the globe, and with
more than 40 years' experience at the heart of the banking
industry, CGI is well positioned to support clients in embracing
the new market dynamics of open banking.
About CGI
Founded in 1976, CGI is among the
largest independent IT and business consulting
services firm in the world.
With 73,000 professionals across the globe, CGI delivers
an end-to-end portfolio of capabilities, from IT and business
consulting to systems integration, outsourcing services
and intellectual property solutions. CGI works with clients
through a local relationship model complemented by a global
delivery network that helps clients digitally transform
their organizations and accelerate results. With annual
revenue of C$10.8 billion, CGI
shares are listed on the TSX (GIB.A) and the NYSE
(GIB). Learn more at cgi.com.
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SOURCE CGI Group Inc.