CGI (NYSE: GIB) (TSX: GIB.A) today announced the company has successfully integrated Ripple’s distributed financial technology into the CGI portfolio of payments solutions to assist in the digital transformation of its clients.
CGI financial services clients will realize the benefits of instant international settlements such as greater cost-efficiency, agility and speed to market. Specifically, financial services companies using CGI’s Ripple-enabled Intelligent Gateway can use their existing payments hub to access new protocols and services, and connect with multiple payment networks and clearing channels, including the Ripple network ecosystem.
CGI’s Intelligent Gateway is one of the first payments solutions in the industry to integrate Ripple’s distributed financial technology and provides a solution-agnostic, transformational wrapper around a client’s payment processing systems. It allows participants in the Ripple network to directly transact with each other without the need for a central counterparty or correspondent. This includes real-time payments of any value, in any currency, to anyone, at any time and from anywhere in the world. Benefits also include end-to-end visibility and certainty, increased cost effectiveness and real-time insight into liquidity positions. These benefits are easy to realize when a financial services company implements Intelligent Gateway in front of its existing payment hubs to bridge the transformation gap between disparate systems while still leveraging the existing payment ecosystem and formats.
“Enabling our financial services clients to benefit from innovation such as distributed financial technology is important to CGI,” said Jeff Miller, Vice-President, Financial Solutions Group, CGI. “By partnering with Ripple, we’re helping clients further unlock the value of their existing investments and future proof them. The integration with Ripple is the first of more to come in our efforts to deliver practical innovation to clients. We expect distributed financial technologies to continue to mature and add value to solutions beyond our payments portfolio including trade and collections.”