CGI Group, a leader in information technology and business process services, has enhanced its Proponix trade finance platform with advanced capabilities for supply chain financing (SCF).  Features include processing for approval to pay (bank assisted open account), open account payments, and enhanced purchase order/invoice data management to facilitate a broad range of export and import financing.


Development is underway and SCF capabilities will be in production for Proponix partner banks by the winter of 2008.


Proponix is an efficient, web-based global trade finance platform that includes integrated workflow and imaging, transaction processing, web-based reporting, and a corporate Trade Portal. The new SCF capabilities will enable banks utilising Proponix to go beyond traditional trade finance, to provide on-demand purchase order and invoice-based products and services across their customers trading activities.


CGI has partnered closely with ANZ and the Bank of Montreal (BMO) on the design and development of the SCF capabilities to ensure that added functionality focused on the critical business strategies of revenue growth and competitive edge.  Phase II discussions, including potential integration with Swift TSU (Trade Services Utility) are underway.


“International trade is growing, but alternate payment mechanisms have forced banks to reinvent themselves. CGI understands this space well, and we are confident that they are adding real capabilities that will give ANZ a competitive advantage,” says Wayne Jobson, head of trade product management with ANZ.


Sarah Joyce, executive managing director with BMO comments: “Many banks talk about open account, or supply chain finance, but the investment necessary to implement effective solutions has meant only the largest banks can compete effectively.  We believe our partnership with CGI and the use of Proponix has enabled us to compete with banks of much larger size, and win.”


“Banks are facing challenges with remaining competitive in trade finance as customers demand new products and services in addition to traditional trade finance,” says Jame Cofran, senior vice-president, banking and investments for CGI. “Our SCF initiative is an example of our commitment to maintain Proponix’s position as the premier trade processing platform.”