CGI tapped to enhance National Bank of Canada’s payments system

24 September 2019 2 min. read
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Management and technology consultancy CGI has a won a contract to implement its All Payments (APS) software as the payments hub solution for National Bank of Canada (NBC).

The move arrives as the big Canadian banks are deploying new technology in advance of Payments Canada regulatory changes.

CGI’s APS software allows banks to increase straight-through processing (STP), improve operational efficiency, and drive more flexibility in product offerings, while ensuring regulatory compliance.

The APS platform is a modular solution built on global industry standards. For banks, the cloud-ready platform reduces transaction costs, offers real-time processing of wire and ACH payments, and automates transactions to reduce time-consuming manual processes. Customers, meanwhile, receive a wide range of payment choices and the ability to transfer and receive funds 24/7/365.

CGI tapped to enhance National Bank of Canada’s payments system

National Bank of Canada’s adoption of the platform will give it a continuous view of liquidity across all clearings, as well as consolidated payment transactions data.

"Implementing APS (All Payments solution) will significantly contribute to our payments modernization program and will help us make a positive impact on our customers and partners," said David Bergeron, senior manager, treasury and payments solutions, National Bank of Canada. "The technologies we are implementing deliver the scalability to support future growth and the flexibility to adopt future payments innovations."

CGI has more than 40 years of experience supporting national payment infrastructures in 20 countries across the world. The Montreal-headquartered consultancy has approximately 77,500 global employees.

"The Canadian Payments market is going through an ambitious modernization program currently, leading every bank in turn to modernize their systems," notes Gareth Lodge, senior analyst, Celent. "What makes this announcement noteworthy is that National Bank of Canada have chosen not to concentrate on just the changes they needed to make and replicate what they had before, but take this opportunity and implement a leading edge solution.”

CGI previously collaborated with National Bank of Canada and Skuchain on a blockchain solution to negotiate standby letters of credit and guarantees.