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MONTRÉAL, Oct. 19, 2021 /CNW
Telbec/ - CGI (TSX: GIB.A) (NYSE: GIB) has partnered with the
Bank of Montreal (BMO) and the
National Bank of Canada
(NBC) to pilot the use of intelligent process
automation in capturing, identifying and classifying documents as
part of the CGI Trade360 global trade
platform's transaction flow. The purpose of the pilot is to
help these banks and others accelerate their digital transformation
by automating paper document flows, ultimately improving their
trade finance operations, compliance and relationship
management. CGI collaborated with technology partner Conpend,
a leading provider of artificial intelligence solutions for trade
finance processes, in planning and executing the pilot project.
The pilot proved the integrated CGI Trade360 and Conpend
solution increased efficiency and effectiveness of trade finance
processes for the participating banks. The project team also
documented accuracy and data capture rates as part of a broader set
of metrics, which will be used to benchmark the commercial version
of the Trade AI platform.
"We at BMO view this initiative as foundational in our ambition
to be a digitally enabled Global Trade Finance business.
Integration to our core CGI Trade360 platform will enhance
operational efficiency and our client experience with this proven
intelligent process automation. We appreciate the partnership with
CGI and Conpend in our digital transformation journey," said
Dean Gillis, Managing Director &
Head, Global Trade, BMO.
"This pilot is very exciting for National Bank of Canada since it enables us to accelerate the
deployment of digital solutions for our trade finance activities.
We are confident this will improve our customers' experience while
allowing us to be more efficient, flexible and agile in answering
their ever evolving needs," said Normand
D'Arcy, Senior Manager, International Services, National
Bank of Canada.
Marc Smith, founder and director
of Conpend, said: "Via our Trade AI application, Conpend provides
digital transformation software to the trade finance industry –
automating the processing of both digital and paper-based trade
documentation. Working collaboratively with CGI Trade360, we are
able to substantially and rapidly extend our reach to global
financial institutions, many of whom have been struggling with the
manual processing of documentation for decades."
Torben Sauer, CEO at Conpend,
added: "This pilot is an excellent 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
increased customer and employee expectations around digital
capabilities and services," said Frank Tezzi, Vice-President
of Trade and Supply Chain Solutions at CGI. "With this successful
pilot, our client banks are able to empower their employees and
refocus on high-value work while further digitizing trade finance
processes and reducing costs."
About CGI Trade360
CGI Trade360 delivers all of the software, infrastructure and
support resources necessary to power a bank's global trade
business. Delivered as a software as a service (SaaS), CGI Trade360
enables banks to provide the full range of traditional trade,
supply chain (payables, receivables), cash and collateral
management services to their customers—anywhere, anytime—on a
single, integrated and global platform.
About CGI
Founded in 1976, CGI is among the largest independent IT and
business consulting services firms in the world. With 78,000
consultants and other professionals across the globe, CGI delivers
an end-to-end portfolio of capabilities, from strategic IT and
business consulting to systems integration, managed IT and business
process services 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 Fiscal 2020
reported revenue is C$12.16 billion
and CGI shares are listed on the TSX (GIB.A) and the NYSE
(GIB). Learn more at cgi.com.
About Conpend
By automating document checking using AI
and machine learning, Conpend's clients can streamline paper-based
processes – providing operational efficiency as well as increasing
competitiveness by freeing resources for more meaningful
reallocation.
Conpend's TRADE AI app checks against International Chamber of
Commerce (ICC) rules and undertakes compliance checking against the
Bankers Association for Finance and Trade (BAFT) anti-money
laundering (AML) guidelines and regulatory sanctions screening,
including Office for Foreign Assets Control (OFAC). Conpend strives
to be part of our clients' journey every step of the way – offering
them the latest innovative solutions that will change their
business for the better.
Visit conpend.com to find out more.
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content:https://www.prnewswire.com/news-releases/cgi-partners-with-banks-to-pilot-intelligent-automation-301403021.html
SOURCE CGI Inc.