Bladex selects CGI as partner for trade finance business evolution, enabled by the CGI Trade360® global technology platform
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MONTRÉAL, July 18, 2024 /PRNewswire/ - CGI (TSX: GIB.A) (NYSE: GIB), one of the largest independent IT and business consulting services firms in the world, and Bladex (NYSE: BLX), Banco Latinoamericano de Comercio Exterior, announced an agreement for the implementation of the CGI Trade360® trade technology platform.
Bladex will become the first bank headquartered in Latin America to implement the CGI Trade360® platform, an award-winning software-as-a-service (SaaS) platform utilized by global banks to support trade finance in over 85 countries across Asia, Europe, North America and Oceania.
Jorge Salas, Chief Executive Officer of Bladex, emphasized that "at Bladex, we are committed to staying at the technological forefront. We appreciate the partnership with CGI and the future implementation of this powerful technology platform that will allow us to accelerate the deployment of digital solutions which constitutes an important milestone in our continuous service improvement strategy. In this way, we advance in our strategy as a benchmark bank in trade finance solutions in Latin America."
The implementation of CGI Trade360® at Bladex, delivered by CGI's U.S. and global delivery teams, will provide the infrastructure and support needed to improve the bank's regional and global trade business, optimize letter of credit processing, and significantly enhance working capital solutions as well as security and operational transparency. The platform will enable Bladex's corporate clients to manage their financial needs swiftly and accurately on a unified, integrated, and global platform.
"We look forward to our new partnership with Bladex, a bank with over 40 years of recognized experience in the region's trade finance," said Frank Tezzi, Vice-President, Consulting Services, Trade and Supply Chain Solutions at CGI. "With the implementation of CGI Trade360®, Bladex joins the ranks of leading global banks leveraging our technology. Together, we are advancing Bladex's growth strategy and delivering the capabilities required to achieve its business objectives."
Mauricio Quintana, Senior Vice President of Trade Services Products at Bladex, added "we continue to innovate in our commitment to offer an excellent user experience through a world-class platform that is easily accessible, integrates essential information in real-time, combined with the latest commercial solutions."
CGI Trade360® supports more than 50 products in the areas of traditional trade, payables, receivables, cash management, and others. It delivers a powerful digital experience for bank clients, suppliers, and trade operations teams, while giving banks the ability to scale their trade business, both globally and regionally, with consistency and confidence. Learn more at cgi.com/cgitrade360.
About CGI
Founded in 1976, CGI is among the largest independent IT and business consulting services firms in the world. With 90,000 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 2023 reported revenue is CA$14.30 billion and CGI shares are listed on the TSX (GIB.A) and the NYSE (GIB). Learn more at cgi.com.
About Bladex
Bladex is one of the banking industry's references in foreign trade in Latin America and the Caribbean. Headquartered in Panama, Bladex is a multinational bank with a presence in several countries in Latin America and the Caribbean. Founded in 1979 to promote foreign trade financing and economic integration in the region, Bladex has been listed on the New York Stock Exchange for over three decades and the Mexican Stock Exchange for over 10 years. This presence has allowed Bladex to attract shareholders from central banks and state entities in 23 Latin American countries, as well as commercial banks, financial institutions, institutional investors, and individuals. Bladex also has representative offices in Mexico, Argentina, Brazil, Colombia, and the United States of America, as well as a representative license in Peru, to support regional development and meet the needs of its diverse client base, which includes financial institutions and corporations.
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SOURCE CGI Inc.
