CGI has launched CGI Open Finance, a solution for digital banking.
CGI Open Finance has been designed to assist banks in an application programming interface (API), as well as address the challenges of open banking.
According to CGI, the new solution will help clients develop new value propositions and revenue streams.
CGI Open Finance’s capabilities include secure APIs and building blocks for the management of tactics, techniques and procedures, as it includes an enrolment portal and consent management.
It also offers a continuous integration platform for quality control, automated build and API testing, smart security, access to an API store, as well as billing and monetisation options.
CGI Open Finance is compliant 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.
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.
Frederik Evrard, vice-president of CGI in Luxembourg, said: "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.”
He added: "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."
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