Open Banking Services

Open banking is the future of financial efficiency and success. By partnering with CPQi, our open banking solutions can provide your institution with the competitive edge needed to thrive while also ensuring top-notch security and compliance.

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What is Open Banking?

Open banking is a financial practice that enables the secure sharing of customer data and information between financial institutions and third-party banking service providers. This data sharing is governed by a strict set of conditions agreed upon by the customer.

Customers grant their consent to open banking typically via online legal forms. From here, application program interfaces (APIs) are employed to ensure instantaneous transaction processing.

These APIs are also used to leverage customer data, such as transaction history and financial behavior. This information can then be used to customize the customer experience by providing precise recommendations on relevant products and services.

Benefits of Open Banking for Financial Institutions

Traditionally, the banking industry has relied upon closed banking models. These models require customers to visit in-person branches or complete tedious forms and application processes for their information to be shared.

Comparatively, open banking simplifies the process for both the banks and the customers.

Open banking provides 3 key benefits to financial institutions:

  • Improved Customer & Business Data: In the past, a major inhibitor to innovation within the financial industry has been a lack of valuable customer data and behavioral insights. With open banking, institutions gain a broader outlook on their clients’ wants and needs.
  • Greater Collaborative Opportunities: When open banking is enabled, financial institutions can partner with FinTech companies and other third-party service providers with much greater ease. In turn, customers receive more personalized products and services.
  • Increased Digital Agility: Banks that embrace open banking join a more communicative network of institutions across the financial industry. As a result, access to a larger talent pool is gained and significantly improved efficiency is achieved.
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CPQi is an Open Banking Enabler

At CPQi, our teams work diligently to enable open banking for financial institutions across the Americas.  We consider open banking to be a core service and support financial market entities through:

  • Implementations: No matter where your institution is in its digital journey, CPQi has the expertise and resources to implement open banking solutions that help boost your productivity and profitability.
  • Development: Our development teams work directly with your staff to create and code applications that are efficient and reliable. Plus, we take security and compliance seriously and ensure each new development is working perfectly.
  • Integrations: APIs are a core component of any open banking model. With CPQi, your institution receives the proper integrations needed for open banking to safeguard sensitive customer data and information.
DevOps for Insurance

How We Execute Our Open Banking Solutions

When you work with CPQi, our teams implement a variety of open banking tools and platforms using a wide range of advanced technologies. Our solutions are executed by squads dedicated to developing custom solutions and applying digital development to your core platforms.

We provide services for several types of infrastructures, including:

  • Cloud-enabled and native cloud systems
  • On-premises equipment networks
  • Hybrid models that combine onsite infrastructure with cloud solutions

CPQi works with several of the top digital financial platforms, as well as providing integrations to accommodate your legacy systems.

Our platform partners include Calypso, Murex, Salesforce, ServiceNow, Finastra, Temenos, Moody’s CreditLens, Azure, and AWS.

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Wealth Management Managed Services

Open Banking Allows Your Financial Institution to Fully Embrace Innovation

Open banking and innovation go hand-in-hand.

At CPQi, our squads build custom applications on top of core open banking services to provide your institution with innovative solutions. Each new project we take on is designed according to your specific organizational goals, budget, and regulatory requirements.

Additionally, we prepare your infrastructure for open banking through the implementation of APIs and integration of open banking lifecycles using DevOps and cloud processes.

Our services and solutions support OpenID and FAPI standards, as well as PSD2-based APIs.

The CPQi Advantage Gives Your Institution the Support It Needs

Here at CPQi, we pride ourselves on providing our clients and partners with thorough and efficient services.

We take the time to analyze each component of your existing infrastructure and systems to develop custom solutions that give your institution a strong competitive edge.

Along with open banking services, we also offer our clients expert teams, ongoing support & development, regulatory compliance, and managed services.

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Moody's CreditLens Managed Services

Expert Teams

Our leadership brings more than 15 years of experience to the table, and with more than 300 staff members across the Americas, we are more than capable of providing the support and expertise you need.

Each member of our staff is trained in both technology and finance to ensure the complexities of your institution are understood and addressed thoroughly. Plus, our teams are constantly trained to stay up to date on the latest financial and compliance requirements.

Ongoing Support, Development & Regulatory Change

When you work with CPQi, our services don’t end after the implementation.

We offer ongoing support and development solutions to guarantee your institution is more than capable of keeping up in this ever-evolving digital era of finance.

Furthermore, as digitization and technology continue to reshape the banking industry, CPQi is here to offer more than just regulatory consultations – our compliance teams are on standby to help automate your systems and stay on top of regulatory change.

When assisting in your compliance activities, CPQi also works to assure your operational efficiency and optimize internal management and preparedness for regulatory scrutiny.

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Managed Services

Among the core services offered by CPQi includes our managed services.

Establishing long-term relationships with digital service providers is more important than ever for financial institutions.

CPQi’s managed services are specialized and end-to-end, assisting your institution in keeping your platform operating smoothly and your projects on track.


Book Your Open Banking Services Consultation Today

The time to embrace open banking is now. No matter where you are in your digital journey, CPQi can help get your digital systems and infrastructure to a competitive level. Contact our team today to learn more about our custom open banking services and to book your initial consultation.