Italian payment provider consortium CBI has appointed existing partners Nexi and SIA to redesign the architecture that links its Payment Service Provider (PSP) clients to banks. It is expected the new architecture will be ready for testing by the end of 2022.
CBI, the hub for technological innovation and digitalization of the financial industry, has entrusted Nexi and SIA to redesign the technological architecture of interconnection between all banks and CBI’s Payment Service Provider (PSP) clients.
„The aim of this project is to expand the offer of digital services of transaction banking for citizens, businesses, and the Public Administration. By the end of 2022, banks will test this new system for the first time,” according to the press release.
The new system, also known as CBI Hub Cloud, will allow CBI’s infrastructures that manage all the multibank payment and cash transactions between Italian companies towards PA to communicate through a bespoke and private Cloud technology, that is borrowed from CBI’s open banking platform, CBI Globe.
Lenders will be able to offer advanced and real-time transactional and open finance services to the PA, corporate and retail clients. This will increase the levels of efficiency, safety, and integration in the payments market amongst the key players in our country.
CBI Hub Cloud strengthens CBI’s commitment with Nexi and SIA to the modernization of the system in the field of payment financial services. Thanks to the latest technological infrastructures based on the Cloud, banks and other intermediaries will be able to tackle new challenges, even at the international level, and the growing needs of their clients who are looking for efficient, advanced, and customized services.