CBI turns to Nexi and SIA for Italian payments architecture project

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.

CBI operates under the supervision of the Bank of Italy

The aim is to expand the offer of digital transaction banking services for citizens, businesses, and public administration. It is expected the new architecture will be ready for testing by the end of 2022.

Dubbed CBI Hub Cloud, the new infrastructure will allow CBI to manage all multibank payment and cash transactions through bespoke, private cloud technology using its open banking platform CBI Globe. Nexi was a key partner for CBI Globe.

Lenders will be able to offer real-time transactional and open finance services to their clients. This is intended to increase the efficiency, safety, and integration in the payments market among the key players in Italy. Lenders will be able to access the service via client software and will monitor real-time transactions through a dashboard linked to the Hub.

Liliana Fratini Passi, CEO at CBI, says: “CBI Hub Cloud incorporates all services available on CBI’s network.

“This will create new services leveraging opportunities, flexibility, and a time-to-market response, enabled by the cloud.”

Renato Martini, digital banking solutions director at Nexi, adds: “The open and flexible API technology will enable the innovation of services according to the open banking principles, starting from the already known ones in CBI’s development plan, such as smart onboarding, check IBAN, Invoice Advance Database, or the Confirmation of Payee.”

CBI is a public limited consortium company that comprises around 400 PSPs as shareholders. It acts as a hub for digitalisation and technological innovation by creating digital payment services for banks. It operates under the supervision of the Bank of Italy.