CGI and ASB Bank, New Zealand have announced the launch of CGI Trade360, a digital, software-as-a-service (SaaS) trade platform for trade finance, supply chain finance and credit service, to replace the bank’s legacy trade system and represents its first use of a SaaS trade solution.
CGI Trade360 provides a reliable, robust and intuitive platform for automating key bank functions, including letters of credit, guarantees, and compliance checking. It also supports ASB’s overall growth objectives in digitisation of international trade. ASB was New Zealand’s first savings bank and now currently works alongside more than 1.3 million personal and business customers.
“At ASB, innovating has been part of everything we have done for more than 170 years. We’re determined to provide our customers with outstanding service especially with the current COVID-19 environment. That’s why we’re passionate about partnering with CGI to help our clients improve efficiency by offering a safe seamless digital service on a trusted platform,” says ASB Head of Trade Finance Fergus Lee.
CGI’s partnership with ASB Bank builds on more than 40 years of experience in supporting financial services and national payment infrastructures in 20 countries, including 15 of the world’s 20 top banks.
“CGI’s unified platform creates a cost-effective, financially stable end-to-end solution, resulting in a strategic advantage for ASB Bank as a key trade and supply chain finance provider,” said Les Davey, Vice President and Sector Lead for CGI in Australia. “We are proud of our partnership with ASB Bank and the launch of a new system that positions ASB for increased competitiveness in the global marketplace.”