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Scotiabank inks seven year deal with CGI Group

Scotiabank has signed a seven-year agreement with CGI Group for a global rollout of cloud-based customizable SaaS solution, CGI Trade360.

CGI said Trade360 will replace multiple legacy trade and supply chain applications at Scotiabank with a single, integrated platform to enhance service to clients, reduce costs, and provide greater visibility and transparency into its North America, Latin America, Caribbean and Asia operations.

Scotiabank executive vice-president & head of global transaction banking Alberta Cefis said they are taking steps towards a common global trade finance platform that will enhance their ability to deliver a superior, consolidated range of trade finance and supply chain products to their clients.

"Leveraging our international presence, this agreement will allow us to streamline trade finance operations globally and strengthen our position in the global marketplace," Cefis added.

CGI vice president of US Steve Starace said CGI is uniquely positioned to help Scotiabank address their global trade services processing needs. Trade360 delivers a single, global solution that can be configured and customized locally, giving Scotiabank a sustainable competitive advantage in the market.