In an effort to improve its digital footprint to meet tough regulatory compliance deadlines, Vantage Bank Texas turned to CGI. Implementing CGI All Payments platform-as-a-service, the bank was able to modernize its payments ecosystem—from contract signing to go-live—in just four months.
Replacing payment channels
Driven by end-of-life contracts with existing payment vendors, Vantage Bank Texas had a narrow window to replace payment channels and comply with regulatory change. The bank also faced the challenge of inefficient payment processing—from front-end channels to back-end systems.
Implementing in just four months
We integrated CGI All Payments into the bank’s existing payments ecosystem, enabling it to interface with bank’s back-end and new front-end applications, in just four months. The bank quickly benefited from this new modern payment platform, reducing payment friction and improving payment efficiencies for wires and U.S. low value payments.
The bank benefited from the following with CGI All Payments:
- Increased straight-through processing, providing a more streamlined payment business flow that enables the bank to respond quickly to customer needs and provide a better customer experience
- Reduced overhead operation and IT costs, increasing efficiencies for both front- and back-office operations
- Expansion of the bank’s digital footprint with faster payments
- Improved readiness in adopting new industry standards and regulatory requirements