CGI (TSX: GIB.A) (NYSE: GIB) has launched an initiative with the Canadian Securities Administrators (CSA) that will replace the CSA’s national systems that currently support the Canadian financial regulatory system with a modern, digital solution that will integrate workflows, support data quality and ensure faster information sharing across all of Canada’s provincial and territorial securities commissions.
CGI will design, build and implement an integrated solution to replace existing systems (including SEDAR, SEDI, Cease-Trade Order Database, National Registration Database, National Registration Search and Disciplined List). The new solution will be based upon a modern and secure software product developed by Foster Moore and is designed to deliver secure transactions, improve ease and speed of use, respond to changes across the Canadian regulatory environment and evolve to meet requirements for future data management and advanced data analytics.
“We are delighted to help the CSA in their modernization journey by applying our in-depth knowledge of the current Canadian regulatory systems, workflows and processes with our global expertise in successful digital transformation”, said Mark Boyajian, President, Canada Operations for CGI.
This renewed system is planned to be delivered in stages over the next 3 years by a joint CSA and CGI transition team.
Founded in 1976, CGI Group Inc. is the fifth largest independent information technology and business process services firm in the world. Approximately 65,000 professionals serve thousands of global clients from offices and delivery centers across the Americas, Europe and Asia Pacific, leveraging a comprehensive portfolio of services including high-end business and IT consulting, systems integration, application development and maintenance, infrastructure management as well as 150 IP-based services and solutions. With annual revenue in excess of C$10 billion and an order backlog exceeding C$20 billion, CGI shares are listed on the TSX (GIB.A) and the NYSE (GIB). Website: www.cgi.com.
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 Canadian securities laws. 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 but 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 press release, in CGI’s annual and quarterly Management’s Discussion and Analysis (“MD&A”) and in other public disclosure documents filed with the Canadian securities authorities (filed on SEDAR at www.sedar.com) and the U.S. Securities and Exchange Commission (filed on EDGAR at www.sec.gov), 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.
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