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CGI Successfully Completes Implementation of an Open Account Solution for BMO Capital Markets
Oct 02, 2007 (08:10 AM EDT)
MONTREAL, Oct. 2 /PRNewswire-FirstCall/ - CGI Group Inc. , today announced its successful implementation of a Bank-assisted Open Account Transaction solution with BMO Capital Markets (a member of BMO Financial Group).
BMO Capital Markets' Trade Finance Group has enhanced their existing trade services platform powered by Proponix(TM), CGI's leading Trade Finance solution. Providing an Open Account finance offering enables BMO to aggressively bid on new customer accounts, in addition to significantly enhancing the service offering to existing customers.
Sara Joyce, Executive Managing Director and Head of International Financial Institutions and Trade Finance, BMO Capital Markets, says, "CGI is an industry leader with proven expertise in trade finance. We firmly believe that CGI's ability to deliver strategic and innovative solutions for Trade Finance is helping us win new business by offering an expanded suite of capabilities to prospects and existing customers, resulting in increased revenue and competitive advantage."
"We are pleased that BMO Capital Markets continues to look to CGI to leverage their trade finance needs," says Jame Cofran, Senior Vice-President, Banking and Investments, CGI. "The Proponix Open Account functionality enables BMO Capital Markets to successfully compete with top tier global trade finance banks and win new business."
CGI is a major provider of IT and business process services to financial institutions around the world including 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.
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. It provides the complete infrastructure and technology to transform a Bank's global trade services business, resulting in increased revenues from new products and offerings, as well as lower costs through new capabilities. The capabilities enable competition against banks of all sizes with continuous product evolution and rapid deployment to market.
About BMO Capital Markets
BMO Capital Markets is a leading full-service North American financial services provider, with over 2,000 employees operating in 14 North American offices and 26 worldwide, offering corporate, institutional and government clients access to a complete range of investment and corporate banking products and services. BMO Capital Markets is a member of BMO Financial Group www.bmocm.com , one of the largest diversified financial services providers in North America with more than $359 billion in total assets and 35,000 employees as at July 31, 2007. For more information, visit .
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 annual revenue run rate stands at $3.7 billion (US$3.5 billion) and at June 30th, 2007, CGI's order backlog was $12.4 billion (US$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 .
CONTACT: CGI: Investors and Media: Lorne Gorber, Vice-President, Global email@example.comCommunications and Investor Relations, (514) 841-3355,; Trade Media: Lee LoPriore, Executive Consultant,Banking & Investments, (770) 444-0446,