CGI to work with Scotiabank for global rollout of Trade360
Cloud-based software as a service (SaaS) streamlines platform, enhances competitive advantage
CGI Group Inc.(TSX: GIB.A) (NYSE: GIB), a leader in information technology and business process services, today signed a seven-year agreement with Scotiabank (TSX: BNS.TO) (NYSE: BNS), one of North America's premier financial institutions and Canada's most international bank, for a global rollout of cloud-based customizable SaaS solution, CGI Trade360®. Trade360 will replace multiple legacy trade and supply chain applications at Scotiabank with a single, integrated platform to enhance service to clients, reduce costs, and provide greater visibility and transparency into its North America, Latin America, Caribbean and Asia operations.
“We are taking steps towards a common global trade finance platform that will enhance our ability to deliver a superior, consolidated range of trade finance and supply chain products to our clients,” said Alberta G. Cefis, Executive Vice-President & Head of Global Transaction Banking at Scotiabank. “Leveraging our international presence, this agreement will allow us to streamline trade finance operations globally and strengthen our position in the global marketplace.”
“We needed a global solution that not only keeps pace with the rapid changes in technology, but also allows us to easily adapt as the market and our clients’ needs continue to evolve,” said Paul LeBlanc, Senior Vice-President, Trade Services & Financial Institutions, Scotiabank. “CGI has provided us with an end-to-end trade and supply chain platform to help us better meet our clients’ needs locally, while providing consistent service across our global operations.”
“CGI is uniquely positioned to help Scotiabank address their global trade services processing needs,” said Steve Starace, Vice-President, U.S., CGI. “Trade360 delivers a single, global solution that can be configured and customized locally, giving Scotiabank a sustainable competitive advantage in the market.”
“CGI is honored to continue our 20+ year working relationship with Scotiabank, providing innovative solutions to fuel strategic growth,” said Doug McCuaig, President, Canada, CGI. “Moving its legacy system to a managed service application delivered in the cloud will help accelerate expansion of Scotiabank’s global trade business, while ensuring a secure and reliable platform.”
For 35 years, CGI has provided IT, business process and managed services to financial institutions around the world, including 23 of the top 25 banks in the Americas and 16 of the top 25 European banks. CGI banking-focused solutions include core banking, wealth management, trade finance, business intelligence/data warehousing and customer relationship management.
Founded in 1976, CGI Group Inc. is one of the largest independent information technology and business process services firms in the world. CGI and its affiliated companies employ approximately 31,000 professionals. CGI provides end-to-end IT and business process services to clients worldwide from offices and centres of excellence in the United States, Canada, Europe and Asia Pacific. As at June 30, 2011, CGI's annualized revenue was approximately C$4.2 billion and its order backlog was approximately C$12.7 billion. CGI shares are listed on the NYSE (GIB) and the TSX (GIB.A) and are included in both the Dow Jones Sustainability Index and the FTSE4Good Index. Website: www.cgi.com.
Scotiabank is one of North America's premier financial institutions and Canada's most international bank. With more than 70,000 employees, Scotiabank Group and its affiliates serve some 18.6 million customers in more than 50 countries around the world. Scotiabank offers a broad range of products and services including personal, commercial, corporate and investment banking. With assets above $571 billion (as at April 30, 2011), Scotiabank trades on the Toronto (BNS) and New York Exchanges (BNS). For more information please visit www.scotiabank.com.
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Senior Vice-President, Global Communications and Investor Relations