CGI (TSX: GIB.A) (NYSE: GIB) today launched a set of offerings designed to help banks leaders navigate technology investments in the dynamic, highly competitive, but increasingly important field of transaction banking.
These offerings include a comprehensive Global Transaction Banking (GTB) vision paper, an online self-assessment tool, and a new GTB web section to help clients develop concrete GTB roadmaps that align with their strategic priorities and drive growth.
“Transaction banking is transforming, with clients and competition driving the rapid pace of change,” said Penny Hembrow, Vice-President and Global Lead, Financial Services, CGI. “Piecemeal IT investment to ‘run the bank’ will no longer enable strategic priorities to be met. To realize growth in this dynamic marketplace, business and IT leaders need to invest in transformational change to establish a concrete roadmap of service innovation, enhanced digital client servicing and highly efficient straight through processing. Navigating through these often contradicting priorities is critical to achieving improved return on equity.”
Although the opportunities in transaction banking are promising, CGI notes that, historically, there has been under investment in this line of business, resulting in low straight through processing rates and outdated, disjointed and costly services.
To succeed in this marketplace, leading banks are investing in strategies that:
• Address the market’s escalating expectations for transaction services
• Leverage the heightened performance benefits of standardization and technology-driven innovation
• Modernize legacy infrastructures to drive cost savings
Based on the Banking International Architecture Network (BIAN) standards, CGI has developed an enterprise view of a transaction bank that allows business and IT leaders to discuss, challenge and align IT investments.
“CGI outlines GTB strategies and their appropriateness based on a bank’s objectives and funding. We also describe the capabilities that have been proven, based on our extensive experience, to be critical in running an efficient, streamlined and profit-driving transaction banking line of business,” said Penny. “The future of transaction banking holds great promise and the time is now for making the right investments to build and grow a successful transaction banking business.”