CGI Partners with Banks to Drive Intelligent Automation

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MONTREAL, October 19, 2021 / PRNewswire / – CGI (TSX: GIB.A) (NYSE: GIB) has partnered with the Bank of Montreal (BMO) and the National Bank of Canada (NBC) drive the use of intelligent process automation in the capture, identification and classification of documents as part of the Commerce 360 ​​CGI Global trade platform transaction flow. The goal of the pilot is to help these banks and others accelerate their digital transformation by automating paper document flows, thereby improving their trade finance operations, compliance and relationship management. CGI worked with its technology partner Conpend, a leading provider of artificial intelligence solutions for trade finance processes, in the planning and execution of the pilot project.

The pilot project proved that the integrated CGI Trade360 and Conpend solution increased the efficiency and effectiveness of trade finance processes for participating banks. The project team also documented the accuracy and data capture rates as part of a larger set of metrics, which will be used to compare the trade version of the Trade AI platform.

“At BMO, we see this initiative as fundamental to our ambition to be a digital global trade finance company. Integration with our core CGI Trade360 platform will improve operational efficiency and our customer experience with this proven intelligent process automation. We value the partnership with CGI and Conpend in our digital transformation journey, ”said Dean Gillis, Managing Director and Head, Global Trade, BMO.

“This pilot is very exciting for the National Bank of Canada because it allows us to accelerate the deployment of digital solutions for our trade finance activities. We are confident that this will enhance our customers’ experience while allowing us to be more efficient, flexible and agile to meet their ever-changing needs, ”said Normand D’Arcy, Senior Director, International Services, National Bank of Canada.

Marc Smith, Founder and Director of Conpend, said: “Through our Trade AI application, Conpend provides digital transformation software to the trade finance industry, automating the processing of digital and paper trade documentation. By working in conjunction with CGI Trade360, we are able to dramatically and rapidly expand our reach to global financial institutions, many of which have struggled with manual processing of documentation for decades. “

Torben Sauer, CEO of Conpend, added, “This pilot is a great example of the Conpend-CGI partnership, and its success strongly demonstrates the transformative potential of Trade AI. “

“Financial institutions have a growing need to accelerate their digitization initiatives to become more resilient and meet the increased expectations of customers and employees for digital capabilities and services,” said Frank Tezzi, vice president of solutions at commerce and supply chain at CGI. “With this successful pilot, our client banks are able to empower their employees and refocus on high value-added work while further digitizing trade finance processes and reducing costs.”

About CGI Trade360
Commerce 360 ​​CGI provides all of the software, infrastructure and support resources necessary to power a bank’s global business operations. Delivered as a software as a service (SaaS), CGI Trade360 enables banks to provide their clients with the full range of traditional commerce, supply chain (payable, receivable), treasury and collateral management services to their clients. customers, anywhere, anytime, on a single, global platform.

About CGI
Founded in 1976, CGI is one of the largest independent IT and business consulting firms in the world. With 78,000 consultants and other professionals around the world, CGI offers a portfolio of end-to-end capabilities, ranging from strategic IT and business consulting to systems integration, managed IT and management services. business processes and intellectual property solutions. CGI works with clients through a local relationship model complemented by a global delivery network that helps clients digitally transform their organizations and accelerate results. CGI’s reported income for fiscal 2020 is C $ 12.16 billion and CGI’s shares are listed on the TSX (GIB.A) and the NYSE (GIB). Learn more about cgi.com.

About Conpend
By automating document verification using AI and machine learning, Conpend customers can streamline paper-based processes, delivering operational efficiency while increasing competitiveness by freeing up resources for more meaningful reallocation.

Conpend’s TRADE AI app verifies International Chamber of Commerce (ICC) rules and undertakes a compliance check against Bankers Association for Finance and Trade (BAFT) Anti-Money Laundering Guidelines (AML) and filtering. regulatory sanctions, including the Office for Foreign Assets Control (OFAC). ). Conpend strives to be part of our customers’ journey every step of the way, providing them with the latest innovative solutions that will improve their business.

Visit conpend.com to know more.

SOURCE CGI inc.

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