CGI-AMS Inc., the wholly-owned U.S. operating subsidiary of CGI Group Inc. (TSX: GIB.SV.A; NYSE: GIB) announced today that Union Bank of California (UBOC), the fourth largest commercial bank in California and one of the top 25 banks in the United States, has chosen CGI-AMS’s Proponix solution to support the bank’s domestic trade finance business.
Proponix is a hosted, Web-based fully integrated trade finance platform that provides access to trade services technology as a service, enabling reduced costs and enhanced customer service. Proponix allows financial service institutions to share a common platform, infrastructure and development costs, and pay-per-transaction for processing trade services.
“UBOC was looking for a cost-effective solution to enable us to keep pace with technology changes as well as gain the flexibility to adopt future trade strategies as this very competitive market evolves,” said Barbara Hounsell, senior vice-president, Commercial Loans and Trade Services Operations. “We believe the Proponix solution will position UBOC to meet these objectives.”
The Proponix platform includes a comprehensive trade processing system with built-in workflow and imaging, in-sourcing capabilities, denied party compliance, and online reporting. A Web-based trade portal enables banking customers to initiate and manage transactions, perform inquiries, view document images, and run up-to-date reports. Trade portal clients also gain access to supply-chain management capabilities, including trade document preparation and collaboration among banks, their customers, and their customer’s trading partners and logistic service providers.
“Banks are looking for ways to upgrade their trade finance technology, reduce operating costs, and offer new products while keeping up-front investment to a minimum,” said George Schindler, senior vice president and head of the CGI-AMS banking practice. “Proponix solution enables banks to focus on core business objectives and not worry about the required ongoing technology investment.”
CGI and its wholly owned US operating division, CGI-AMS, has more than 20 years experience in delivering trade services solutions globally. The Proponix solution is in production globally and currently supports the processing of more than 17,000 transactions per week.
About Union Bank
Based in San Francisco, UnionBanCal Corporation (NYSE:UB) is a bank holding company with assets of $49.4 billion at March 31, 2005. Its primary subsidiary, Union Bank of California, N.A., had 316 banking offices in California, Oregon and Washington, and 21 international facilities, at March 31, 2005. The company's Web site is located at www.uboc.com.
About CGI-AMS
CGI-AMS Inc. is the wholly-owned U.S. operating subsidiary of CGI Group Inc. Founded in 1976, CGI is among the largest independent information technology and business process services firms in North America. 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 Canada, the US, Europe and India. CGI’s annualized revenue run-rate is currently CDN$3.8 billion (US$3.0 billion) and at March 31, 2005, CGI’s order backlog was CDN$12.9 billion (US$10 billion). CGI’s shares are listed on the TSX (GIB.SV.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.
Forward-Looking Statements
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. These statements represent CGI Group Inc.’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.
These factors include and are not restricted to the timing and size of contracts, acquisitions and other corporate developments; the ability to attract and retain qualified employees; market competition in the rapidly-evolving information technology industry; general economic and business conditions, foreign exchange and other risks identified in the Management’s Discussion and Analysis (MD&A) in CGI Group Inc.’s Annual Report or Form 40-F filed with the SEC, the Company’s Annual Information Form filed with the Canadian securities authorities, 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, which speak only as of the date on which they are made. In particular, statements relating to future revenue from outsourcing contracts are forward-looking statements. CGI disclaims any intention or obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Readers are cautioned not to place undue reliance on these forward-looking statements. .
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Jane Watson
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