Realizing the full potential of the cloud—whether private or public—is enticing for banks but often a very complex process. CGI All Payments helps banks work through that complexity, address risks, and deliver highly resilient payment processing solutions.
The arguments for why banks should consider replacing their data centers with the cloud are compelling. The potential benefits include sustainability, resource elasticity, reduced capacity planning, improved resiliency, increased efficiency, and lower costs. These many stated benefits are why, of the 311 banking executives we interviewed as part of our 2024 CGI Voice of Our Clients program, 61% are planning to migrate at least 20% of their core business applications to the cloud over the next 2 years.
While many banks view the private cloud as less of a security risk, most banks have hesitated to move their core systems to the public cloud because of its unique security challenges. Security is of primary importance for banks as they deal with data sets comprising almost 100% personally identifiable information (PII), and the regulatory and reputational impacts of any compromise are high. And yet, over 84% of CGI clients use cloud-based solutions, such as CGI All Payments, with a lower risk profile than their previous infrastructure.
Protecting core assets is one of many concerns banks face when moving to the public cloud. There also are legal security and regulatory requirements to consider. It is clear that unleashing the rewards of moving your payments to the public cloud is challenging and can seem potentially overwhelming, which is why we aim to make it easier.
At CGI, we have a long history of helping clients successfully navigate complex projects—from securely steering satellites and delivering valuable defense data to processing passports and implementing market-leading payment systems. Our latest payment deployments have involved private and public cloud as well as hybrid models, and three fundamental capabilities have helped our clients break free of the obstacles holding others back:
- Platform: A fit-for-purpose, multi-cloud-native and cloud-independent payments platform.
- Experience: Extensive infrastructure and application management experience.
- Security and Resiliency: Advanced cloud security coupled with a robust risk management approach.
By combining these three capabilities, our clients have moved their payments to the public cloud securely and seamlessly, realizing the true promise of cloud infrastructure.
Read our viewpoint paper to learn more.
