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
