Vancouver, British Columbia, July 5, 2016 – Central 1 Credit Union and CGI (TSX: GIB.A) (NYSE: GIB) have entered into a 10-year agreement to deploy omni-channel solutions to manage account and loan originations for Canadian credit union customers coast to coast. This agreement gives Central 1 exclusive Canadian credit union access to CGI’s Liberty origination and digital banking software and has CGI providing ongoing software application development and management to ensure continuous digital innovation over the term of the agreement.
“We think this is the right approach to help our members address a complex and dynamic environment and help them gain market share,” said Chris Dickin, AVP Business Development & Delivery at Central 1. “This long term agreement with CGI will enable us to provide online and in-branch member origination and loan origination in one package, and be completely integrated with MemberDirect®.”
This omni-channel solution is already available for some key systems, including CGI’s RFS™ and Horizon™, Wealthview and Ovation, with other banking systems expected to be added in the coming months.
“CGI is excited to be working with Central 1 to help them transform the way credit unions engage with their members who demand digital services,” said Paul Mackley, Vice President, Services to Credit Unions, CGI. “Collaborating with Central 1, we will dramatically transform the way that consumers transact now and in the future.”
A partner to more than 110 credit unions, CGI supports approximately 3 million members. Core offerings include solutions such as integrated banking, customer relationship management, loan origination and delinquency management as well as application services and management consulting.
With offices in Vancouver, Mississauga and Toronto, Central 1 holds on balance sheet approximately $14.6 billion in assets. We provide wholesale financial products, trust services, payment processing solutions and direct banking services to more than 300 credit unions and institutional clients from coast to coast.
In addition, Central 1 is the primary liquidity manager, payments provider and trade association for our 42 member credit unions in B.C. and 73 Ontario member credit unions. Our members represent a consumer-oriented, full-service retail financial system that collectively serves 3.3 million members and holds more than $107.9 billion in assets. For more information, visit www.central1.com.
Founded in 1976, CGI Group Inc. is the fifth largest independent information technology and business process services firm in the world. Approximately 65,000 professionals serve thousands of global clients from offices and delivery centers across the Americas, Europe and Asia Pacific, leveraging a comprehensive portfolio of services, including high-end business and IT consulting, systems integration, application development and maintenance, and infrastructure management, as well as 150 IP-based services and solutions. With annual revenue in excess of C$10 billion and an order backlog exceeding C$20 billion, CGI shares are listed on the TSX (GIB.A) and the NYSE (GIB). Website: www.cgi.com.
Director, Member and External Communications, Central 1
Vice-President, Marketing and Communications, CGI
Executive Vice-President, Global Communications and Investor Relations, CGI