CGI (NYSE: GIB) (TSX: GIB.A) today announced that Peoples Trust Company (PTC), part of Peoples Group, a leading provider of financial services to the Canadian marketplace, has selected CGI All Payments to provide the capabilities the company needs to directly participate in Canada’s Automated Clearing Settlement System (ACSS). ACSS is the system through which Canadian cheques and electronic payments are cleared and settled. In June 2022, PTC became the first new direct participant connecting to ACSS in nearly 40 years. Further, PTC will use CGI All Payments, a proprietary, market-leading, cloud-based platform, to modernize and digitize its payments systems and expand its payment offerings for customers.
Payments have played a pivotal role in PTC’s business since its founding. The implementation of CGI All Payments delivers a modern, payments platform that supports the company’s multi-year, strategic growth plan. PTC, in partnership with CGI, is leading the path to create a more competitive payments industry in Canada.
“The modernization of our payment systems is key to our growth as an innovator in the Canadian payments space,” said Bruce Duthie, CIO of Peoples Group. “We selected CGI to be our solutions partner as they understand the Canadian market and have proven experience in cloud-deployed solutions. CGI All Payments will help us to continue expanding our customer offerings in the payments space.”
CGI All Payments helps banks rapidly deploy the payments orchestration, processing and network connectivity required to meet evolving market needs. Delivered as a software package or cloud-based platform-as-a-service (PaaS), CGI All Payments can be implemented quickly to enable banks to get ahead of the payments modernization curve. Banks that have selected CGI’s solution have gone from project kick-off to end-to-end payments processing in as little as four months, speeding up their return on investment and business growth.
“Since the 1970s, CGI has helped clients be at the forefront of payments. Today, we support clients globally in transferring more than US$21 trillion in financial payments every day, including real-time payments. Our experience, combined with our services and solutions, helps banks modernize and stay ahead in the fast-changing payments world,” said Robert Coakley, Vice-President of Payments Solutions at CGI. “It is great to partner with PTC while they break new ground as the first new direct ACSS participant in almost four decades. Leveraging our multi-entity capabilities and secure cloud deployment on Microsoft Azure, we will help PTC benefit from our cost-efficient, proven enterprise payments solution across all businesses within their group of companies.”
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