From the beginning of this week, consumers, small charities and small businesses are able to switch their bank or building society current account simply and reliably using a consistent service developed by the Payments Council in partnership with CGI (NYSE: GIB) (TSX: GIB.A). The new, free-to-use account switching service is designed to make switching current accounts from one bank or building society to another, simpler, more reliable and hassle-free.
CGI has been supporting the Payments Council account switching programme since 2011, working with the industry to design and deliver the Current Account Switch Service including programme management and delivering an integrated communications campaign to support the launch of the service. CGI worked with the Payments Council, its members and other stakeholders to manage and drive the delivery of the programme.
Adrian Kamellard, Chief Executive of the Payments Council, said, “After two years of work and commitment by the Payments Council, financial institutions and CGI to develop this new standardised switching service, yesterday marked a significant milestone for all parties involved. The launch of the Current Account Switch Service ushers in a new era of account switching which should lead to greater choice for customers and wider competition in the market-place.”
“Account Switching is an important milestone for the financial services industry as it will enable both better customer service and help to support more competition, an important factor in strengthening consumer trust in the banking industry,” said Tim Gregory, UK President of CGI. “By working in close partnership with the Payments Council, our financial services experts have helped to develop a service that will make a real difference to the standard of service account holders receive.”
About Payments Council
The Payments Council is the body with responsibility for ensuring that payment services in the UK work for all those that use them. It is set up to listen to a wide range of stakeholders so that individuals and businesses have access to payments that meet their current and future needs. The Payments Council has three core objectives: to have a strategic vision for payments and lead the future development of co-operative payment services in the UK; to ensure payment systems are open, accountable and transparent; and to ensure the operational efficiency, effectiveness and integrity of payment services in the UK. www.paymentscouncil.org.uk
Founded in 1976, CGI Group Inc. is the fifth largest independent information technology and business process services firm in the world. Approximately 69,000 professionals serve thousands of global clients from offices and delivery centers across the Americas, Europe and Asia Pacific, leveraging a comprehensive portfolio of services including high-end business and IT consulting, systems integration, application development and maintenance, infrastructure management as well as a wide range of proprietary solutions. With annualized revenue in excess of C$10 billion and an order backlog exceeding C$18 billion, CGI shares are listed on the TSX (GIB.A) and the NYSE (GIB).Website: www.cgi.com.
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