Vantage Bank Texas Selects CGI for Payments System Modernization
January 14 2021 - 10:00AM
Business Wire
CGI All Payments solution will provide
future-ready digital platform for payments systems
CGI (NYSE: GIB) (TSX: GIB.A) today announced Texas-based Vantage
Bank Texas has deployed CGI All Payments as part of the community
bank’s digital transformation.
CGI All Payments (APS) will underpin the Bank’s cloud-based
digital modernization journey. APS replaces Vantage Bank’s legacy
FedWire and ACH processing solutions, as well as positions the bank
for real-time payments. This move will enable the bank to focus on
differentiating their business offerings in order to meet their
strategic growth objectives, while realizing unrivalled levels of
service, availability, agility and most importantly, security from
the CGI All Payments service in Microsoft Azure.
Vantage Bank’s transformation, like many other financial
institutions, started with the need to replace aging and costly
legacy solutions, at the same time positioning itself for future
business growth. CGI worked closely with Vantage Bank Texas to
define a plan of action to meet their short and long term needs.
Four months after selecting CGI, Vantage Bank Texas is live with
CGI All Payments.
“Our customers expect a better user experience. To deliver on
those expectations, we partnered with CGI to improve efficiencies
in payments processing with a modern, flexible solution,” said
Shawn Main, Chief Business Architect at Vantage Bank Texas. “The
goal of the project is to future-proof our payment systems while
offering customers a wider range of payment and transfer
options.”
“Payments are the foundation that every bank is built upon, and
getting it right is critical. Choosing the right platform – a
payment services hub that is modern, flexible, scalable – is
fundamental to a bank achieving their growth strategy,” states
Gareth Lodge, Senior Analyst, Celent. “Utilizing it then in the
cloud can accelerate and multiply the benefits.”
“The increasing demand among financial customers for highly
personalized data and payment options across a growing array of
digital channels is challenging bank legacy systems,” said Robert
Coakley, Vice-President of Payments Solutions at CGI. “Whether the
goal is to deliver distinctive payments experiences, provide
real-time payment options or meet compliance mandates, we are
working side-by-side with global financial institutions and vital
community banks, like Vantage Bank Texas, to chart a path forward
for payments transformation solutions that are fully vetted for
security and compliance across all platforms including public
cloud.”
About CGI All Payments
CGI All Payments is a modern, modular solution built on global
industry standards to ensure banks’ payments business is
future-proof. It helps banks to increase revenue by reducing
transaction costs and time to market for new revenue streams. A
bank’s customers also benefit from a wide range of payment choices
and the ability to transfer and receive funds 24/7/365. As an
integrated software platform for processing real-time, wire and ACH
payments, CGI All Payments’ built-in workflow engine helps automate
the processing of payment transactions to reduce manual processing
while improving straight-through processing (STP) rates across all
payment types.
About CGI
Founded in 1976, CGI is among the largest independent IT and
business consulting services firms in the world. With 76,000
consultants and other professionals across the globe, CGI delivers
an end-to-end portfolio of capabilities, from strategic IT and
business consulting to systems integration, managed IT and business
process services and intellectual property solutions. CGI works
with clients through a local relationship model complemented by a
global delivery network that helps clients digitally transform
their organizations and accelerate results. CGI Fiscal 2020
reported revenue is C$12.16 billion and CGI shares are listed on
the TSX (GIB.A) and the NYSE (GIB). Learn more at cgi.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20210114005284/en/
Alison Hallett Vice-President, U.S. Communications, CGI
alison.hallett@cgi.com +1 703-267-5915
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