Va., Sept. 20, 2023 /PRNewswire/ -- CGI
(NYSE: GIB) (TSX: GIB.A) today announced that the CGI All
Payments solution has been certified to support transaction
activity for financial institutions that make payments on the
Federal Reserve Bank's new instant payments system,
"We are excited that early adopters across the country are
making strides in their operational readiness for transacting
through the service since we launched in July," said Ken Montgomery, Federal Reserve Bank of
Boston first vice president and
FedNow Service program executive. "Completing certification is a
key milestone for participating organizations to validate their
ability to deliver instant payment services."
CGI has been actively developing FedNow Service-specific
capabilities since joining the FedNow Service Pilot Program in
2021. With four decades of deep expertise and industry knowledge in
the global payments sector, CGI contributed to the development and
market readiness of this new system throughout the certification
process. CGI was certified to support sending and receiving FedNow
Service credit transfers and requests for payment.
"CGI is an active member of the FedNow community and is working
to onboard clients and empower them to deliver instant payment
services to their customers at a pace that's right for them," said
Robert Coakley, Vice-President
Consulting, Delivery, and CGI Lead for Payment Solutions.
The CGI All Payments solution provides connectivity to this new
rail, which helps banks rapidly deploy the orchestration,
processing and network connectivity required to meet evolving
market needs. Delivered as a package or cloud-based
platform-as-a-service, CGI All Payments deploys quickly and allows
banks to become adopters of the FedNow Service. With a core ISO
20022-native database, API-driven workflows and certified
interfaces, CGI clients have deployed from kick-off to go-live in
as little as four months, allowing return on investment and future
business growth to begin faster.
Founded in 1976, CGI is among the largest
independent IT and business consulting services firms in the world.
With 91,500 consultants and professionals across the globe, CGI
delivers an end-to-end portfolio of capabilities, from strategic IT
and business consulting to systems integration, managed IT and
business process 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. CGI Fiscal 2022
reported revenue is $12.87 billion
and CGI shares are listed on the TSX (GIB.A) and the NYSE (GIB).
Learn more at cgi.com.
SOURCE CGI Technologies and Solutions, Inc.