HSBC selects CGI for trade platform transformation

Neil Sadler, Senior VP, UK Financial Services, CGI

HSBC has partnered with CGI Inc., a Canada based global information technology consulting firm wherein the firm has been appointed with the task of delivering a new global technology trade platform for the banking giant and its clients.

The intended purpose of this partnership is accelerating HSBC’s trade and receivable business by bringing in emerging technologies while driving agility and processing capabilities. It intends to achieve this by making use of CGI Trade360, an end-to-end global trade finance solution, which will deliver all business and software capabilities to deliver global banking business.

The use of this new technology will help HSBC edge its market leadership and thereby taking financial technology to the next level of advancement. With this HSBC stands to gain enhanced customer service through a higher level of engagement along with providing its client with technologies such as distributed ledgers, APIs and Internet of Things.

Speaking about the partnership Neil Sadler, Senior Vice President, UK Financial Services, at CGI explained, ” Working together on an important industry program such as this is mutually beneficial to us both, as it will allow HSBC to speed up the process of bringing additional value to their client base, while enabling CGI to accelerate the value of our market-leading intellectual property.”

Delivered as a software as a service (SaaS), CGI Trade360 enables banks to provide a range of traditional trade, payables, receivables and cash management services to their customers on a single, integrated and global platform. It’s comprised of a corporate portal, an efficient back-office trade processing system with sophisticated imaging and workflow, an advanced reporting utility, and XML-based integration architecture.

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