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CGI ANNOUNCES MAJOR INITIATIVE TO OFFER SUPPLY CHAIN FINANCE AND OPEN ACCOUNT PRODUCT CAPABILITIES IN PROPONIX TRADE FINANCE PLATFORM
Austin, Texas, May 1, 2007 -
CGI Group Inc. (TSX: GIB.A; NYSE: GIB), a leader in information technology (IT) and business process services, is pleased to announce the enhancement of its Proponix
trade finance platform with advanced capabilities for Supply Chain Financing (SCF). Features will include processing for Approval to Pay (bank assisted open account), Open Account Payments, and enhanced Purchase Order/Invoice data management to facilitate a broad range of export and import financing. Development is currently underway and SCF capabilities will be in production for Proponix partner banks by the winter of 2008.
Proponix is a highly efficient, web-based global trade finance platform that includes integrated workflow and imaging, transaction processing, web-based reporting, and a corporate Trade Portal. The new SCF capabilities will enable banks utilizing Proponix to go beyond traditional trade finance, to provide on-demand purchase order and invoice-based products and services across their customers trading activities.
CGI has partnered closely with Australia New Zealand (ANZ) bank, and the Bank of Montreal (BMO) on the design and development of the SCF capabilities to ensure that added functionality focused on the critical business strategies of revenue growth and competitive edge. Phase II discussions, including potential integration with SWIFT TSU (Trade Services Utility) are currently underway.
“International trade is growing, but alternate payment mechanisms have forced banks to reinvent themselves. CGI understands this space well, and we are confident that they are adding real capabilities that will give ANZ a competitive advantage,” said Wayne Jobson, Head of Trade Product Management with ANZ. Sarah Joyce, Executive Managing Director with Bank of Montreal commented, “Many banks talk about open account, or supply chain finance, but the investment necessary to implement effective solutions has meant only the largest banks can compete effectively. We believe our partnership with CGI and the use of Proponix has enabled us to compete with banks of much larger size, and win.”
“Banks are facing challenges with remaining competitive in trade finance as customers demand new products and services in addition to traditional trade finance,” said Jame Cofran, Senior Vice-President, Banking & Investments for CGI. “Our Supply Chain Finance initiative is an example of our commitment to maintain Proponix’s position as the premier trade processing platform.”
CGI is a major provider of IT and business process services to financial institutions around the world including all of the top Canadian banks, nine of the top ten U.S. banks and seven of the top twenty banks in the world. CGI banking-focused solutions include core banking, end-to-end wealth management, trade finance, business intelligence/data warehousing and customer relationship management. CGI solutions process one-third of all U.S. credit bureau requests and more than $130 billion are moved every day over the fund transfer systems that it supports. CGI provides retail banking, transaction processing and payroll services to more than 2,300 banking institutions worldwide.
About CGI
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 25,000 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 annualized revenue run rate stands at $3.6 billion (US$3.1 billion) and at December 31, 2006, CGI's order backlog was $12.6 billion (US$10.9 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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For more information:
CGI
Lee Lopriore
Executive Consultant, Credit Solutions
lee.lopriore@cgi.com
(770) 335-4606
Philippe Beauregard
Director
Corporate Communications and
Public Affairs
philippe.beauregard@cgi.com
(514) 841-3218
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