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CGI All Payments Completes Certification to Support FedNow Service Transactions

CGI All Payments Completes Certification to Support FedNow Service Transactions - top government contractors - best government contracting event

CGI‘s cloud-based enterprise payments platform has been certified to support financial transactions on the Federal Reserve Bank’s newly launched instant payment infrastructure.

CGI All Payments is deployable across multiple cloud environments and allows banks and financial institutions to adopt the FedNow Service to send and receive credit transfers and payment requests instantly, enabling faster business cash flow, CGI said Wednesday.

Robert Coakley, vice president and payments program lead at CGI, said the company is working to onboard clients to the FedNow Service and help them provide their own customers with instant payment services.

CGI was selected to participate in a pilot program for the FedNow Service in 2021 to support the development, testing and adoption of the real-time payment system.

Ken Montgomery, Federal Reserve Bank of Boston’s first vice president and FedNow Service program executive, said certification validates an organization’s ability to deliver instant payment services.

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Written by Naomi Cooper

is a full-time writer for ArchIntel, a division of Executive Mosaic, and a contributor for ExecutiveBiz. She covers emerging technologies, technology innovation, contract awards, partnerships and market expansion stories in the government contracting industry.

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