Vantage Bank Texas Selects CGI for Payments System Modernization

By AIT News Desk On Jan 15, 2021

CGI All Payments solution will provide future-ready digital platform for payments systems

CGI announced Texas-based Vantage Bank Texas has deployed CGI All Payments as part of the community bank’s digital transformation.

“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”

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.”

Recommended AI News: Navisite Achieves AWS Migration Competency Status

“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.”