CGI Group Inc. (TSX: GIB.A; NYSE: GIB) announces the successful implementation of its debt recovery management solution, CACS Enterprise, its decision management solution, Strata Enterprise, and BureauLink for credit bureau access at Navy Federal Credit Union (NFCU).
CGI helped NFCU transition from traditional age-based collections to sophisticated risk-based collections, in order to increase dollars collected, and reduce delinquencies and charge-offs resulting from the tightened credit market. NFCU's new collections approach combines CGI's industry-leading CACS solution with its advanced decision management tool, Strata Enterprise. The combined CACS and Strata solution enables NFCU to prioritize work based on risk level and in turn, maximize the effectiveness of collections treatments and resource utilization.
CGI not only provided NFCU with the tools necessary to stay competitive in today's market, but also provided the business process consulting and change management services to position the organization for future transformation and growth. CGI helped NFCU implement risk-based policies and procedures through the entire collections lifecycle, across the credit union.
"At NFCU, we are taking strategic steps to ensure our collections operations grow and adapt with current market conditions," said Dave Tillery, Senior Vice President of Consumer/Credit Card Lending at NFCU. "CGI's expertise in the credit industry combined with their technology solutions made them the right partner to help us achieve our strategic goals."
"In today's tough credit environment, it is imperative that a bank's business processes are as efficient as possible, and that credit policy and risk management strategies are positioned for maximum effectiveness," said Peter Ihrig, Senior Vice-President, CGI. "We worked with NFCU to help them transform their collections approach, enabling them to increase collections while utilizing resources more efficiently, positioning NFCU for success in an evolving marketplace."
For over 30 years, CGI has provided IT and business process services to financial institutions around the world including 24 of the top 25 banks in the Americas and 17 of the top 25 European banks. The suite of tools implemented at NFCU combines CGI's leading bureau request management utility, our integrated collections recovery solution, and our powerful customer-based decision engine. By leveraging CGI's robust products, we provide value through improved productivity and reduced IT costs.
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 25,500 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 fiscal 2008 revenue was $3.7 billion and at September 30, 2008, CGI's order backlog was $11.6 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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