CGI and the Laurentian Bank of Canada today announced an agreement based on which CGI will provide electronic commerce and electronic funds transfer services to the Laurentian Bank, including support for debit card shared cash dispensing and point-of-sale direct payment. The agreement also includes services such as automated teller machine management and overall support of electronic card services. CGI expects the contract to generate $20 million in revenue over its five-year term.
"For our clients, this partnership will result in additional services that meet their needs while making our overall services even more cost-competitive," said Gilles Godbout, Executive Vice-President, Marketing, and CIO at Laurentian Bank.
Jean Brassard, CGI's President and COO, added: "We are pleased that Canada's seventh largest financial institution chose CGI as its preferred information technology partner for electronic commerce and electronic funds transfer. CGI is already a major services provider to credit unions and other financial institutions across Canada. This development will allow us to consolidate our position as the country's largest non-financial provider of shared cash dispensing and point-of-sale direct payment services."
Laurentian Bank customers using the Bank's 300 automated teller machines (ATMs) will also benefit from new functions developed by CGI, such as ATM language preferences, as well as custom-tailored features that meet their specific needs.
Founded in 1846, Laurentian Bank ranks seventh among Canadian Schedule I banks with assets of over $12 billion. Since 1990, the Bank has experienced a level of growth that has nearly tripled its balance sheet assets, increased its assets under administration tenfold and significantly improved its return on capital. The Bank offers highly competitive products and superior personalized service to meet the banking and financial needs of individuals and small and medium-sized businesses.
CGI is the largest independent information technology consulting firm in Canada and the sixth largest in North America. It provides end-to-end IT services and business solutions to some 2,000 clients in Canada, the United States and 20 countries around the world. CGI has more than 7,500 professionals, an annualized revenue-run rate of more than $1.1 billion and an order backlog totalling approximately $6 billion. CGI's shares (GIB.A) are included in The Toronto Stock Exchange's TSE 300 Composite and TSE 200 indexes.
For more information:
Ronald White
Public Affairs
CGI
(514) 841-3200
Danielle Saint-Denis
Vice-President
Marketing & Public Relations
Laurentian Bank
(514) 284-3917
