Solution to help enable their direct
participation in the Canadian retail market space
FAIRFAX,
Va., July 12, 2022 /PRNewswire/
-- CGI (NYSE: GIB) (TSX: GIB.A) today announced that
Peoples Trust Company (PTC), part of Peoples Group, a leading
provider of financial services to the Canadian marketplace, has
selected CGI All Payments to provide the capabilities the
company needs to directly participate in Canada's Automated Clearing Settlement System
(ACSS). ACSS is the system through which Canadian cheques and
electronic payments are cleared and settled. In June 2022, PTC became the first new direct
participant connecting to ACSS in nearly 40 years. Further, PTC
will use CGI All Payments, a proprietary, market-leading,
cloud-based platform, to modernize and digitize its payments
systems and expand its payment offerings for customers.
Payments have played a pivotal role in PTC's business since its
founding. The implementation of CGI All Payments delivers a modern,
payments platform that supports the company's multi-year, strategic
growth plan. PTC, in partnership with CGI, is leading the path to
create a more competitive payments industry in Canada.
"The modernization of our payment systems is key to our growth
as an innovator in the Canadian payments space," said Bruce Duthie, CIO of Peoples Group. "We selected
CGI to be our solutions partner as they understand the Canadian
market and have proven experience in cloud-deployed solutions. CGI
All Payments will help us to continue expanding our customer
offerings in the payments space."
CGI All Payments helps banks rapidly deploy the payments
orchestration, processing and network connectivity required to meet
evolving market needs. Delivered as a software package or
cloud-based platform-as-a-service (PaaS), CGI All Payments can be
implemented quickly to enable banks to get ahead of the payments
modernization curve. Banks that have selected CGI's solution have
gone from project kick-off to end-to-end payments processing in as
little as four months, speeding up their return on investment and
business growth.
"Since the 1970s, CGI has helped clients be at the forefront of
payments. Today, we support clients globally in transferring more
than US$21 trillion in financial
payments every day, including real-time payments. Our experience,
combined with our services and solutions, helps banks modernize and
stay ahead in the fast-changing payments world," said Robert Coakley, Vice-President of Payments
Solutions at CGI. "It is great to partner with PTC while they break
new ground as the first new direct ACSS participant in almost four
decades. Leveraging our multi-entity capabilities and secure cloud
deployment on Microsoft Azure, we will help PTC benefit from our
cost-efficient, proven enterprise payments solution across all
businesses within their group of companies."
About Peoples Group
Peoples Group has been providing tailored financial services to
the Canadian marketplace for more than 35 years. Since 1985 their
focus has been on exceptional customer service, solidly rooted in
extensive product knowledge and experience. In the world of
Canadian payments, Peoples Trust, part of Peoples Group, is a
leading issuer of prepaid payment cards and an innovative merchant
acquirer. They are an entrepreneurial organization that excels at
customizing solutions to fit the needs of their clients. As a
result, they have been recognized as a pioneer and innovator of
prepaid cards in Canada, and an
early adopter of payment solutions. They have partnered with many
of Canada's Fintechs, giving them
the tools and guidance to help realize their success. For more
information, please visit www.peoplesgroup.com
About CGI All Payments
CGI All Payments is cloud-proven payments platform built on
global industry standards to ensure each client's business is
future proof. It helps banks increase revenue by reducing
transaction costs and time-to-market for new revenue streams. Bank
customers also benefit from a wide range of payment choices and the
ability to transfer and receive funds in real-time 24/7/365. As an
integrated software platform for processing real-time, wire and ACH
payments, CGI All Payments' built-in workflow engine automates the
processing of payment transactions to reduce manual processing
while improving straight-through processing (STP) rates across all
payment channels.
About CGI
Founded in 1976, CGI is among the largest independent IT and
business consulting services firms in the world. With 84,000
consultants and 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 2021
reported revenue is $12.13 billion
and CGI shares are listed on the TSX (GIB.A) and the NYSE (GIB).
Learn more at cgi.com.
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SOURCE CGI Technologies and Solutions, Inc.