CGI Group Inc. (CGI) (TSX: GIB.A; NYSE: GIB) deepens partnership with PNC Financial Services Group, Inc. (NYSE: PNC) to deliver the core technology for financial services platforms through a business process outsourcing (BPO) model.
This partnership enables financial institutions to benefit from PNC’s operational excellence, supported by CGI technology, in a highly cost-effective model. The PNC Consumer Services (PNCCS) BPO solution enables each client to enjoy a lower cost per unit for transactions, while allowing each organization to stay true to their individual lending policies, strategy, and brand. Current PNC Consumer Services clients include a diverse list of financial institutions, such as Capital One, American Express, Discover, ETrade, and Washington Federal. PNCCS services in excess of $28 billion of consumer loan accounts comprised of home equity loans and lines of credit, direct and indirect automobile loans, and personal loans and lines of credit.
“CGI technology solutions and services are some of the critical components of the PNC Consumer Services offering,” said James C. DeFoggia, President, PNC Consumer Services, “We will continue to build upon this partnership with CGI to deliver to our clients the most advanced and cost-effective solutions available.”
“Through our partnership with PNC, we are proud to say that our major credit technologies, including CMS for collections, Strata for decision management and ACLS for servicing are inside the processing of 1.5 million accounts for 12 leading financial institutions,” said Jame Cofran, Vice President, US Banking and Investments Strategy, CGI. “This partnership affords a level of capability available to organizations that would not otherwise have access to them on an in-sourced basis.”
About CGI
Founded in 1976, CGI Group Inc. is one of the largest independent information technology (IT) and business process services firms in the world. CGI and its affiliated companies employ approximately 24,500 professionals. CGI provides end-to-end IT and business process services to clients worldwide from offices in Canada, the U.S., Europe and Asia Pacific as well as from centers of excellence in Canada and the U.S., Europe and India. CGI's annualized revenue run rate is currently $3.5 billion (US$3.1 billion) and at June 30, 2006, CGI's order backlog was $13.3 billion (US$11.9 billion). CGI's 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 .
About PNC
The PNC Financial Services Group, Inc. (www.pnc.com) is one of the nation’s largest diversified financial services organizations providing retail and business banking; specialized services for corporations and government entities, including corporate banking, real estate finance and asset-based lending; wealth management; asset management and global fund services.
-30-
For more information:
CGI:
Business Development
Bernard A. Mongilio
Vice President
(703)-328-2332
Media relations
Kirsten Paragona
Director, Corporate Communications
(978) 946-3124
PNC:
Media relations
Patrick McMahon
Vice President, Corporate Communications
(412) 762-2477
