CGI Partners with Barclays to Transform Trade Finance
Stock Market Symbols
GIB.A (TSX)
GIB (NYSE)
Delivering seamless connectivity between banks and corporates through ecosystem collaboration
CGI, one of the largest independent IT and business consulting services firms globally, has announced a strategic partnership with Barclays. This collaboration aims to integrate CGI Trade360, CGI's global trade finance solution, with Konsole, the leading multi-bank trade finance platform from Komgo. Through this partnership, Barclays seeks to enhance its trade finance capabilities by increasing transparency, speeding up transactions, and reducing manual data entry.
The move underscores how partnerships in the financial ecosystem can create added value for global trade banks. According to Jaya Vohra, Barclays' Managing Director and Global Head of Trade & Working Capital, corporate clients are increasingly looking for efficient, digital-first solutions to meet their global trade finance needs. The integration with CGI Trade360 allows Barclays to provide its clients with a fully digital experience while simplifying operational processes, affirming their commitment to digital transformation in trade finance.
Barclays' latest initiative signifies a critical advancement in its digital trade finance journey. Clients engaging with the Komgo platform will now enjoy a fully automated transaction workflow in collaboration with CGI Trade360. This advancement aims to offer additional digital channels for financing that enhance the overall client experience.
Neil Sadler, Senior Vice-President at CGI, emphasized the importance of the partnership by stating that CGI is dedicated to advancing trade finance digitization. By bridging established institutions and innovative fintech networks, CGI aims to empower clients to scale their operations confidently. He noted, "Banks are at the core of global trade financing, and CGI is uniquely positioned to facilitate this next stage of digital integration."
The partnership between Komgo and CGI marks a new standard in digitizing trade finance, aiming to reduce manual processes and meet the demands of multinational corporates for real-time and digital-first solutions. Michael Mandell, Managing Director at Komgo, explained that integrating Konsole with CGI Trade360 offers real value for both banks and corporates, enabling swiftly executed and secure digital trade finance workflows.
About CGI Trade360
CGI Trade360 supports an extensive range of over 50 products that cover traditional trade, payables, receivables, and cash management. The platform provides a powerful digital experience for banks, suppliers, and trade operations teams, enabling banks to scale their trade businesses reliably. To learn more, visit cgi.com/cgitrade360.
About CGI
Founded in 1976, CGI stands as a prominent independent IT and business consulting firm, boasting a workforce of 93,000 professionals worldwide. From strategic IT consulting to managed IT services, CGI supports clients in their digital transformation journeys, aiming to accelerate results. With reported revenue of CA$14.68 billion, CGI shares are publicly traded on both the TSX (GIB.A) and NYSE (GIB).
About Barclays
Barclays envisions itself as the leader in global finance centered in the UK. As a diversified bank, it provides a vast array of financial services, including consumer banking, corporate banking, and wealth management, working collaboratively for better financial futures for its customers and communities.
About Komgo
Komgo specializes in revolutionizing the trade finance industry with innovative technology solutions, enhancing communication and operational efficiency for over 10,000 enterprise users globally. With roots in Switzerland, it has extended its reach to major financial cities such as Singapore, London, and New York, and serves a diverse clientele that includes over 300 multinational corporations and global trade banks. Explore more at komgo.io.
