CGI Provides Core Technology for PNC Consumer Services; CGI and PNC Approach 1.5 Million Mark for Accounts Processed.NEW YORK -- CGI Group Inc. (CGI CGI in full Common Gateway Interface. Specification by which a Web server passes data between itself and an application program. Typically, a Web user will make a request of the Web server, which in turn passes the request to a CGI application program. ) (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension :GIB.A) (NYSE NYSE See: New York Stock Exchange :GIB) deepens partnership with PNC Financial Services PNC Financial Services (NYSE: PNC) is a U.S.-based financial services corporation, with assets of $92.0 billion. PNC operations include a regional banking franchise operating primarily in eight states and the District of Columbia, specialized financial businesses serving Group, Inc. (NYSE:PNC PNC Purdue University North Central (Westville, Indiana) PnC Point 'n Click PNC Police National Computer PNC People's National Congress (Guyana) PNC People's National Congress ) to deliver the core technology for financial services platforms through a business process outsourcing Business process outsourcing (BPO) is the contracting of a specific business task, such as payroll, to a third-party service provider. Usually, BPO is implemented as a cost-saving measure for tasks that a company requires but does not depend upon to maintain its position in (BPO) model. This partnership enables financial institutions to benefit from PNC's operational excellence, supported by CGI technology, in a highly cost-effective model. The PNC Consumer Services BPO solution enables each client to enjoy a lower cost per unit for transactions, while allowing each organization to stay true to their individual lending policies, strategy, and brand. Current PNC Consumer Services clients include a diverse list of financial institutions, such as Capital One, American Express, Discover, E*TRADE, and Washington Federal. PNCCS services in excess of $28 billion of consumer loan accounts comprised of home equity loans and lines of credit, direct and indirect automobile loans, and personal loans and lines of credit. "CGI technology solutions and services are some of the critical components of the PNC Consumer Services offering," said James C. DeFoggia, President, PNC Consumer Services. "We will continue to build upon this partnership with CGI to deliver to our clients the most advanced and cost-effective solutions available." "Through our partnership with PNC, we are proud to say that our major credit technologies, including CMS (1) See content management system and color management system. (2) (Conversational Monitor System) Software that provides interactive communications for IBM's VM operating system. for collections, Strata for decision management, and ACLS ACLS abbr. advanced cardiac life support for servicing are inside the processing of 1.5 million accounts for 12 leading financial institutions," said Jame Cofran, Vice President, US Banking and Investments Strategy, CGI. "This partnership affords a level of capability available to organizations that would not otherwise have access to them on an in-sourced basis." About CGI Founded in 1976, CGI Group Inc. is one of the largest independent information technology (IT) and business process services firms in the world. CGI and its affiliated companies employ approximately 24,500 professionals. CGI provides end-to-end IT and business process services to clients worldwide from offices in Canada, the U.S., Europe, and Asia Pacific, as well as from centers of excellence in Canada and the U.S., Europe, and India. CGI's annualized annualized Of or relating to a variable that has been mathematically converted to a yearly rate. Inflation and interest rates are generally annualized since it is on this basis that these two variables are ordinarily stated and compared. revenue run rate is currently $3.5 billion (US$3.1 billion) and at June 30, 2006, CGI's order backlog was $13.3 billion (US$11.9 billion). CGI's shares are listed on the TSX (GIB.A) and the NYSE (GIB) and are included in the S&P/TSX Composite Index as well as the S&P/TSX Capped Information Technology and MidCap Indices. Website: www.cgi.com. About PNC The PNC Financial Services Group, Inc. (www.pnc.com) is one of the nation's largest diversified financial services organizations providing retail and business banking; specialized services for corporations and government entities, including corporate banking, real estate finance and asset-based lending; wealth management; asset management; and global fund services. |
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