CGI Open Finance is a digital transformation platform for integrating technology between fintech and banks via an API and orchestration layer.
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Premier Bank Platform
Score 6.4 out of 10
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Financial technology company Fiserv offers the Premier Bank Platform to banking institutions, providing an environment to integrate data and manage bank operations in a simplified browser-based interface.
It enable for us to connect our bank account with other fintech to have more reliability, flexibility and transparence between our subsidiaries. It's secure, reliable and fast. The only negative point is you need to have some technical skills to manage the integrations successfully
Premier Bank Platform is well suited for a banking environment, it wouldn't really make sense to use it in any other kind of environment. We are a medium sized bank who outsources Platform and it suits us fairly well. They are some issues with Fiserv from time to time but overall Platform allows us to complete our banking duties quickly and with relative ease. Fiserv takes care of updating all aspects of Platform for us so from an IT perspective it saves us a lot of headaches. Most end users are satisfied with Platform, the only grumbling you'll typically hear about is when the service is unavailable.
Because the Premier Bank Platform is developed by Fiserv, a very large company, there are considerable resources to continue to develop Premier and roll out new solutions.
It holds most all of our customer data in one central location and transfers that data to other Fiserv apps fairly well.
It is fairly intuitive and most users pick up on it quickly.
The software itself is currently a bit dated, but it will be overhauled here sometime in 2019.
We outsource the platform and sometime the connections to Fiserv are not reliable which cause the platform to be unusable.
Fiserv has several different platforms and Premier seems to be the most dated of the bunch, again that appears to be changing in 2019 but in the interim it still remains an issue
The customer support can sometimes be lacking when facing issues with the platform, they will tell you they'll fix it later but give no time frames as to when that might be.
CGI open finance is really good to manage our integrations between our different fintech providers. It's totally reliable, secure, easy to implement and fast. It help us a lot to have more flexibility in our organisation between our subsidiaries
Platform is absolutely critical to our daily bank operations. It's a bit on the expensive side to setup and maintain but in the end worth the money because of the complete coverage it provides in daily business functions.
There are several competitors to Platform but Premier is what our bank has used for many years, even before it's Fiserv acquisition, and what many employees are comfortable with. A switch would involve a massive investment in retraining.
A negative impact can be on when there are outages or mishaps on Fiserv's side. Fiserv has a tendency to not compensate you even when they should be obligated to. They seem to play the outlast you game where they hope you will give up and stop asking.
