CGI';s Hotscan360 solution named a market leader for helping enterprises address financial crime compliance

Rhea-AI Summary

CGI's Hotscan360 solution has been recognized as a market leader by Celent for financial crime compliance. The solution offers advanced technology, scalability, and AI capabilities to help enterprises combat financial crime effectively.

Positive

• CGI's Hotscan360 solution has been acknowledged as a market leader by Celent, a renowned advisory firm.
• The solution is placed in the highest-rated Luminary category in Celent's Technology Capabilities Matrix.
• CGI's Hotscan360 enables clients to scan structured and unstructured message formats quickly with low false positive rates.
• The demand for advanced anti-financial crime tools like CGI Hotscan360 is increasing due to the sophistication of financial crime and regulatory focus on money laundering.
• CGI's domain expertise in watchlist screening and the easy configurability of the Hotscan360 solution are highlighted in the Celent report.
• Financial institutions are adopting new technologies to enhance screening capabilities in response to regulatory demands.
• CGI's Hotscan360 solution offers integrated, intelligent, and real-time anti-money laundering, customer due diligence, and fraud detection capabilities.
• The digital financial services revolution is driving the need for modern solutions like CGI Hotscan360 to address complex transactional environments.

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Stock Market Symbols
GIB.A (TSX)
GIB (NYSE)
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Advisory firm, Celent, highlighted CGI's domain expertise and AI capabilities

MONTRÉAL, April 16, 2024 /PRNewswire/ - CGI (TSX: GIB.A) (NYSE: GIB), one of the world's largest business and IT consulting firms, announces that the CGI Hotscan360 business solution has been recognized as a market leader by leading research and advisory firm Celent in its latest Financial Crime Compliance Technology: Watchlist Screening Edition report. Celent placed CGI's Hotscan360, an all-in-one financial crime solution for enterprises, in the highest-rated Luminary category in its new Technology Capabilities Matrix, recognizing the solution for its breadth of functionality and advanced technology.

"With electronic payments becoming faster and more frequent, our ability to help clients protect their organization from financial crime is a key element of our adaptive banking strategy," said Andy Schmidt, Vice-President & Global Industry Lead for Banking at CGI. "By combining scalability, granularity, and AI, CGI's Hotscan360 solution enables clients to quickly scan structured and unstructured message formats at high speeds, and with extremely low false positive rates." 

According to Martin Zelenka, Vice-President, Intellectual Property for Hotscan360 at CGI, "To be designated as a Luminary is a powerful validation of our commitment to helping clients succeed by building secure, market-leading solutions. The increasing sophistication of financial crime, a sharper focus on money laundering by regulators and heightened security concerns across the banking industry are driving the demand for more advanced anti-financial crime tools. There is a critical need for modern solutions like CGI Hotscan360 that deliver integrated, intelligent, and real-time anti-money laundering, customer due diligence, and fraud detection capabilities."

"The digital financial services revolution is creating increasingly complex, high-volume, and fast transactional environments," said Neil Katkov, Director in Celent's Risk practice. "Consequently, financial institutions are facing heightened regulatory demands around screening processes, prompting the adoption of new or updated technologies to enhance screening capabilities."

The Celent report highlights CGI's "domain expertise in watchlist screening" and ability "to run supervised or unsupervised AI models provided by the client." Celent also notes that clients appreciate "the easy configurability of the (CGI Hotscan360) solution, its reliability, and its speed."

About CGI
Founded in 1976, CGI is among the largest independent IT and business consulting services firms in the world. With 90,500 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 2023 reported revenue is CA$14.30 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/cgis-hotscan360-solution-named-a-market-leader-for-helping-enterprises-address-financial-crime-compliance-302117659.html

SOURCE CGI Inc.

FAQ

What solution was recognized as a market leader by Celent for financial crime compliance?

CGI's Hotscan360 solution

What category was CGI's Hotscan360 placed in by Celent?

The highest-rated Luminary category

What capabilities does CGI's Hotscan360 offer to help enterprises combat financial crime?

Advanced technology, scalability, and AI capabilities

What is driving the demand for advanced anti-financial crime tools like CGI Hotscan360?

The sophistication of financial crime and regulatory focus on money laundering

What expertise of CGI is highlighted in the Celent report?

Domain expertise in watchlist screening

What are financial institutions adopting new technologies for in response to regulatory demands?

Enhancing screening capabilities

What does CGI's Hotscan360 offer in terms of anti-money laundering capabilities?

Integrated, intelligent, and real-time capabilities

What is prompting the adoption of new technologies by financial institutions according to Celent?

Heightened regulatory demands around screening processes