CGI and National Bank of Canada expand their partnership

Rhea-AI Summary

CGI (NYSE: GIB) has acquired the intellectual property of National Bank of Canada's financial planning solution, AdviceSuite, enhancing its Wealth360 digital platform. This acquisition, coupled with a new 10-year SaaS agreement, signifies an expansion of their partnership. The solution aims to empower financial advisors, improving relationships with investors by offering transparent and accessible financial advice. CGI's F2022 revenue was reported at $12.87 billion, underscoring its prominence in IT and consulting services. This strategic move is aligned with CGI's commitment to digital transformation in the banking and wealth management sectors.

Positive

• Acquisition of AdviceSuite IP enhances CGI's Wealth360 platform.
• New 10-year SaaS agreement with National Bank accelerates development.
• Strengthening partnership with National Bank signals long-term collaboration.
• The financial planning solution improves advisor-investor relationships.

Negative

• None.

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cgi.com/newsroom

CGI acquires National Bank's innovative financial planning IP solution, AdviceSuite, to expand its Wealth360 digital platform

MONTRÉAL, Feb. 2, 2023 /PRNewswire/ - CGI (NYSE: GIB) (TSX: GIB.A) and National Bank of Canada (the "Bank") (TSX:NA) announce today they are expanding their long-standing partnership, as CGI acquires the intellectual property of the Bank's in-house financial planning solution currently used by the Bank's financial advisors. CGI is also entering into a new, 10-year SaaS agreement for the delivery of the solution to the Bank, accelerating its development. This IP expand the capabilities of CGI's market-leading Wealth360 Digital Wealth Platform to bolster its end-to-end offering to clients.

"CGI values deeply its partnership with National Bank of Canada," says Jamie Holland, Senior Vice-President, Industry Solutions. "For CGI, it's vital to work with our partners to drive forward digital transformation solutions and meet competitive market demands. CGI and the National Bank both share the long-term vision that advisory experience is at the heart of creating meaningful, long-term value, while enhancing the advisor and investor experience. This financial planning solution will become a multi-tenant SaaS offering and will contribute to accelerate a similar adoption across the remainder of our IP."

This modern financial planning solution empowers advisors to build deeper relations with investors, through a transparent and dynamic platform that facilitates easy access to financial advice, while keeping the investors' life goals top of mind.

"This partnership enables us to leverage CGI's expertise and capabilities to enhance product development in order to accelerate the delivery of a streamlined end-user experience for advisors and investors," says Éric-Olivier Savoie, President of National Bank Investment. "Our trusted and long-standing partnership with CGI helped pave the way for this 'win-win' opportunity."

CGI is a valued partner to the banking, wealth management and capital markets industry by helping financial institutions improve end-to-end customer experience through digital strategies, channels and technologies - successfully executing transformative projects and ensuring market growth for clients as they take the lead in new digital territories. For more, visit CGI.com.

About CGI
Founded in 1976, CGI is among the largest independent IT and business consulting services firms in the world. With 90,250 consultants and professionals across the globe, CGI delivers an end-to-end portfolio of capabilities, from strategic IT and business consulting to systems integration, managed IT and business process services and intellectual property solutions. CGI works with clients through a local relationship model complemented by a global delivery network that helps clients digitally transform their organizations and accelerate results. CGI Fiscal 2022 reported revenue is $12.87 billion and CGI shares are listed on the TSX (GIB.A) and the NYSE (GIB). Learn more at cgi.com.

View original content:https://www.prnewswire.com/news-releases/cgi-and-national-bank-of-canada-expand-their-partnership-301737201.html

SOURCE CGI Inc.

FAQ

What is CGI's recent acquisition related to GIB?

CGI has acquired the intellectual property of National Bank of Canada's AdviceSuite to enhance its Wealth360 digital platform.

How long is the SaaS agreement CGI entered into with National Bank?

CGI entered into a new 10-year SaaS agreement with National Bank for the delivery of the AdviceSuite solution.

What was CGI's reported revenue for fiscal 2022?

CGI reported revenue of $12.87 billion for fiscal 2022.

How does the acquisition affect CGI's Wealth360 platform?

The acquisition enhances CGI's Wealth360 platform by providing a modern financial planning solution for financial advisors.

What are the benefits of CGI's acquisition for financial advisors?

The acquisition empowers financial advisors by facilitating deeper relationships with investors through improved access to financial advice.