CGI LAUNCHES RAPID RESPONSE CREDIT DIAGNOSTIC SERVICE TO HELP BANKS IN TODAY’S CREDIT MARKET
March 12, 2008 (PRLEAP.COM) Business NewsCGI Group Inc. (TSX: GIB.A; NYSE: GIB), a leader in information technology and business process services, announced the launch of its new rapid response Credit Diagnostic service, designed to help financial institutions stay nimble in today’s credit market while positioning for the future.
The Credit Diagnostic is delivered by CGI credit management and bank operations experts. The service is designed to quickly pinpoint potential issues and devise an actionable plan to help banks improve their financial position by staving off loan losses, minimizing DSO, controlling future credit risk and enhancing the value of their current best customers. The Credit Diagnostic begins with a detailed assessment of the bank’s credit processes and structures, evaluated against best practices, competitive performance and current industry standards, enabling the bank to identify a realistic benchmark for controlling losses while positioning the institution for revenue expansion. Next, CGI delivers a set of immediately actionable, tactical recommendations to address strategic issues and help the organization meet its targeted goals.
“In this multidimensional environment, it is imperative to confirm a bank’s business processes are as efficient as possible, and that credit policy and risk management strategies are positioned for maximum effectiveness,” said Jame Cofran, Senior Vice-President, Banking and Investments, CGI. “CGI credit specialists bring a detailed understanding of the linkage between operational levers and financial performance, and how best to affect those levers for rapid impact.”
CGI has helped banks and financial institutions win and grow through good times and bad for more than 30 years. We provide services to financial institutions around the world including 21 of the top 25 U.S. banks and 45 of 50 top banks in the Americas and Europe. CGI banking-focused solutions include core banking, credit management, 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.
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 26,500 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 and at December 31st, 2007, CGI's order backlog was $12.04 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.