An ambitious project of instant payments in retail banks

An ambitious project of instant payments in retail banks

In addition to regulations, a new solution was designed to not only be disruptive, but place the customer at the center of the business.

Pix, the new instant payment method, is an historic milestone for Brazilian financial institutions. Pix was developed by Banco Central do Brasil (BC, Central Bank of Brazil), based on its recent regulations. Pix allows customers to make instant, cost-free transactions between different accounts, individuals or organizations.

A woman using her smartphone and holding a credit card, showcasing the digital onboarding process through a mobile application. — Discover how GFT enables seamless digital onboarding through mobile applications. This image depicts a woman using her smartphone and credit card, highlighting the convenience and efficiency of mobile-based onboarding solutions in the digital banking and financial services industry.

Learn how GFT’s data, applications and infrastructure expertise within banking’s IT architecture allowed it to turn complex BC regulations into a customer-centric, user-friendly solution:

Regulations standards achieved

GFT met deadlines for each of the implementation phases proposed by BC.

New business

The implementation of this solution increased the amount of new business opportunities.

Strategic leadership

A well-prepared and knowledgeable team of experts from GFT were ready to deal with short deadlines, large teams and important stakeholders within management.

Partner

Amazon Web Services

Amazon Web Services (AWS) is the world’s most comprehensive and broadly adopted cloud platform.

Challenge

Raise expectations in integration and technology fields

Follow the strict regulations of BC in order to create a new solution called Pix. Not only was its design disruptive, but the technology behind it was new, making clients skeptical and uncertain about Pix’s success, even though it would provide them new business opportunities.
Implement the Pix open application programming interfaces (APIs) with excellence, anticipating future problems, ensuring that all integrations within the bank’s legacy system were carried out without damage to its foundation, or established framework, requiring vast knowledge of the bank’s various products and offerings.
To develop, with a strategic and pioneering vision, new partnerships arising from Pix’s developments that cater to financial institutions’ corporate clients, customers that account for the largest share of banks’ revenues.
Dealing with short deadlines and large teams, managing several important stakeholders, with different demands.

Engagement

Offer high-quality management of requests and regulations, project development, large team and its implementation.

Create a team that specializes in open APIs.
Deliver implementation of integration solutions with meticulousness, mitigating the client’s concerns about Pix.
Ensure the professionals involved have extensive knowledge of the bank’s products, offering seamless integration with the legacy system.
Engage a selection of teams to meet deadlines and deliveries, ensuring the entire project complies with varied requirements of main stakeholders, considering their different needs.
Adjust the project according to constant changes, and new regulations or requirements, using business agility methods to guarantee the best and fastest delivery.
Compliance with BC regulations.

Benefit

Extremely satisfied customer, consolidated partnership

Successful, on-time delivery of the project, meeting all requirements of the client and BC, protecting the bank’s legacy system.
Use of a new API management platform to meet open API regulations.
Anticipation of contracts made by the financial institution, prior to project delivery, opening up new revenue streams and additional opportunities for the client.
Creation of new ideas for the deployment of Pix solutions for legal entities.
Opportunity to develop new business models by offering open APIs.
Consolidation of the client’s partnership with GFT.

Banking

Data Uncovered

GFT was instrumental in the debates leading up to formulating the structure and data security strategy, successfully participating in the implementation of instant payment initiatives in different markets, such as Brazil and in Europe.