CGI SIGNS US$80 MILLION, 7 YEAR CONTRACTS WITH ANZ AND BMO TO EXTEND USE OF CGI’S PROPONIX® TRADE FINANCE SERVICE
New Supply Chain Finance capabilities enable wide-ranging export and import financing options
CGI Group Inc. (TSX: GIB.A; NYSE: GIB), announced today the signing of seven year agreements with Australia and New Zealand Banking Group Limited (ANZ) and BMO Financial Group (TSX:BMO; NYSE:BMO) to extend their use of CGI’s Proponix global trade platform.
Over the last five years, ANZ and BMO have utilized Proponix to support their global trade business, achieving enhanced customer service and significant operational efficiencies. CGI recently has enhanced the Supply Chain Finance (SCF) capabilities in Proponix, including Open Account Payments, export financing, receivables financing, buyer-backed financing, and enhanced Purchase Order/Invoice data management and reconciliation. These capabilities will enable ANZ and BMO to provide a broad range of offerings, to further expand their trade banking services for their corporate clients.
“Our partnership with CGI allows BMO to offer our clients advanced financial supply chain capabilities,” said Sara Joyce, Executive Managing Director and Head of International Financial Institutions and Trade Finance for BMO Financial Group. “The flexible, integrated nature of the Proponix platform enables our clients to achieve their ambitions of creating sustainable competitive advantage through improved working capital management.”
“At ANZ, the Proponix platform has been essential in helping us run a global trade business,” commented Guy Whitcher, Head of Working Capital Products, at ANZ. “As well as Australia and New Zealand, we also have business in Europe, North America and widely across the Asia Pacific, all running on a single global platform, Proponix, each with its own special requirements."
Steven Starace, Director and Head of Trade & Supply Chain Finance, CGI, added: “We are delighted to continue our long-term partnership with ANZ and BMO. Their decision to extend the use of Proponix demonstrates the confidence they have in CGI and our ability to deliver a premier global trade platform that enables both financial institutions to successfully compete in the evolving trade marketplace.”
For over 30 years, CGI has provided IT and business process services to financial institutions around the world including 21 of the top 25 U.S. banks and 45 of the top 50 banks in the Americas and Europe. CGI banking-focused solutions include core banking, end-to-end wealth management, trade finance, business intelligence/data warehousing and customer relationship management. Proponix is a hosted, web-based fully integrated global trade finance and supply chain platform that provides access to trade services technology as a service, enabling reduced costs and enhanced customer service. Proponix allows financial service institutions to share a common platform, infrastructure and development costs, and pay-per-transaction for processing trade services.
About Australia and New Zealand Banking Group Limited
ANZ offers a full range of financial products and services in Australia and New Zealand and has overseas representation in Asia, the Pacific, UK/Europe and the United States. ANZ businesses include personal banking and wealth management, mortgages, small to medium business, consumer finance including credit cards, corporate banking, institutional banking, investment banking, trade and transaction services including cash management, international payments and clearing, custody services and trade finance, foreign exchange, global capital markets, global structured finance, corporate financing and advisory and asset finance.
About BMO Financial Group
BMO Financial Group is a highly diversified North American financial services organization. With total assets of $375 billion as at April 30, 2008, and more than 37,000 employees, BMO provides a broad range of retail banking, wealth management and investment banking products and solutions. BMO Financial Group serves clients across Canada through its Canadian retail arm, BMO Bank of Montreal, and through its wealth management firms BMO Nesbitt Burns, BMO InvestorLine and BMO Harris Private Banking. BMO Capital Markets, our North American investment and corporate banking division, provides a full suite of financial products and services to our North American and international clients. BMO also serves personal and commercial clients in the United States through Chicago-based Harris, an integrated financial services organization that provides more than one million personal and business clients with banking, lending, investing, financial planning, trust administration, portfolio management, family office and wealth transfer services.
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 27,000 professionals. CGI provides end-to-end IT and business process services to clients worldwide from offices in Canada, the United States, Europe, Asia Pacific as well as from centers of excellence in North America, Europe and India. CGI's annual revenue run rate stands at $3.8 billion and at March 31st, 2008, CGI's order backlog was $12.04 billion. CGI shares are listed on the TSX (GIB.A) and the NYSE (GIB) and are included in the S&P/TSX Composite Index as well as the S&P/TSX Capped Information Technology and MidCap Indices. Website: www.cgi.com.
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All statements in this press release that do not directly and exclusively relate to historical facts constitute “forward-looking statements” within the meaning of that term in Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended, and are “forward-looking information” within the meaning of sections 138.3 and following of the Ontario Securities Act. These statements and this information represent CGI’s intentions, plans, expectations and beliefs, and are subject to risks, uncertainties and other factors, of which many are beyond the control of the Company. These factors could cause actual results to differ materially from such forward-looking statements or forward-looking information. These factors include and are not restricted to the timing and size of new contracts, acquisitions and other corporate developments; the ability to attract and retain qualified members; market competition in the rapidly-evolving IT industry; general economic and business conditions, foreign exchange and other risks identified in the MD&A, in CGI’s Annual Report or Form 40-F filed with the U.S. Securities and Exchange Commission (filed on EDGAR at www.sec.gov), the Company’s Annual Information Form filed with the Canadian securities authorities (filed on SEDAR at www.sedar.com), as well as assumptions regarding the foregoing. The words “believe,” “estimate,” “expect,” “intend,” “anticipate,” “foresee,” “plan,” and similar expressions and variations thereof, identify certain of such forward-looking statements or forward-looking information, which speak only as of the date on which they are made. In particular, statements relating to future performance are forward-looking statements and forward-looking information. CGI disclaims any intention or obligation to publicly update or revise any forward-looking statements or forward-looking information, whether as a result of new information, future events or otherwise, except as required by applicable law. Readers are cautioned not to place undue reliance on these forward-looking statements or on this forward-looking information.
For more information:
Vice-President, Global Communications and
Director, Trade Services Group
Vice-president, US Communications
Senior Manager, Media Relations
Senior Manager, Media Relations