CGI Group, a leader in information technology (IT) and business process services, has announced the release of Proponix360, which provides advanced solutions for supply chain financing (SCF) and enables banks to gain additional revenue from corporate customers and their trading partners

Proponix360 is a comprehensive hosted service and includes software, infrastructure and support. Its joint development with several partner banks has led to the incorporation of new features including support for open account payments, enhanced purchase order/invoice management and matching, and a broad range of financing capabilities, including receivables financing, pre-shipment, post-shipment, and buyer-backed financing.

 "Proponix360 is a key part of CGI's strategic direction for banking, delivering new capabilities that allow banks to move beyond marginalized products, such as letters of credit, and provide comprehensive end-to-end services that fully support global trade,” comments Steve Starace, head of trade and supply chain finance for CGI.  

CGI has provided IT and business process services to financial institutions around the world for over 30 years and its client list includes 21 of the top 25 U.S. banks and 45 of the top 50 banks in the Americas and Europe.