Building momentum

Trade Services & the Supply Chain
Proponix
Building momentum
to remain competitive.
multi-currency, multi-
No need to worry about
lingual and multi-time zone
expensive upgrade projects,
processing. All of this is
a technology refresh or
provided from CGI’s data
disaster recovery strategies,
centres located in Canada.
the company argues. With
How does the Proponix
Proponix, banks can focus
platform enable banks to
their full attention on what’s
successfully meet their
important – the business
business objectives? The
itself.
technology underlying the
Proponix platform gives a
It might be time to look into the benefits
of Proponix, the global trade finance
technology platform, writes Nadeem Ali.
Its owner, CGI, is in bullish mood, having
recently signed agreements with UBOC and
Citibank.
Born as a business
processing outsourcing (BPO)
joint venture with ANZ, BMO,
Barclays and AMS (now
part of CGI), Proponix, a
comprehensive trade finance
software platform, shed the
BPO model in 2003 and has
evolved under the now-sole
ownership of CGI.
A leading IT and business
process services provider,
CGI provides and hosts
Proponix, a multi-tenant
technology platform, to allow
banks to retain their trade
services processing while
accessing full support of
that processing through the
No need to
worry about
expensive
upgrade
projects, a
technology
refresh or
disaster
recovery
strategies
robust platform.
Beyond tradition
bank the tools that lower
Proponix isn’t just another
costs and enhance customer
trade finance system, the
service, states the firm. Both
company claims. It is a
are vital to a bank’s ability
transformational tool for
to compete at the most
banks that view international
basic level. And the hosted/
trade as a core business.
application service provider
Proponix provides access
(ASP) model enables the
to a complete web-based
bank to join a community
technology platform to
of financial institutions that
process international trade.
seek to drive the evolution
That includes a corporate
of trade-related services,
trade portal, a back-office
offering assurance that they
transaction processing
will remain in the forefront of
system
business and
with built-
technology
in workflow
innovation, it
and imaging,
adds.
an MIS
portal and
Success
stories
a message-
To
based
demonstrate
middleware
how Proponix
gateway for
benefits
exchanging
banks, GTR
data via
spoke with
standardised
Sara Joyce,
reporting
XML to bank
systems.
Proponix’s
Joyce at
BMO
Improved
efficiency
executive
managing
director
and head of
architecture
international
was specifically
designed to support global
financial institutions and
processing and insourcing,
trade finance for the BMO
including 24x7 processing,
Financial Group (Bank of
sophisticated workflow
Montreal).
Why would banks enter into
platform without the costs
distribution rules, full
“For the past three years,
this type of agreement?
and hassles associated
imaging capability to
BMO Financial Group and
CGI’s Proponix allows banks
with investing in and
efficiently move work from
Harris have processed
to have a comprehensive,
maintaining the technology
location to location, and
all of our trade finance
secure technology
infrastructure needed
support for multi-bank,
transactions over the
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MARCH/APRIL 2007 | 97
Trade Services & the Supply Chain
Proponix
Proponix platform. The
behind. But Proponix’s multi-
the intelligent use of those
financial measures. This is
corporate portal (branded
tenant ASP technology model
tools defines the bank’s
an extremely powerful and
Tradevenue® Direct by BMO)
addresses this.
competitive edge, claims
critical tool for running a
proved to be an absolute
“Another key advantage
Proponix.
global trade business.”
winner with our corporate
Australia New Zealand
clients, and the richness of
Banking Corporation (ANZ)
the back-office application
has used Proponix as its
Evolving and
enhancing
has allowed us to optimise
technology platform since
Gaining operational
staffing levels through
2001.
efficiencies isn’t all that
consolidation,” says Joyce.
Wayne Jobson, the bank’s
CGI is focused on with the
“The flexibility inherent in
head of trade product
Proponix platform.
the workflow management
management, has this to
The company recently helped
capability and image
say: “At ANZ, the Proponix
its newest client bank,
processing has allowed us
platform has been essential
Union Bank of California,
to adjust readily to changes
in helping us enhance
go live with Proponix in
in processing volume or
our customer service and
January 2007, and signed
location. We achieved
operational efficiency. In
a partnership with Citibank
significant improvement
addition, the flexibility of
to jointly market insourcing
in efficiency in the initial
Proponix to quickly and
services using the Proponix
easily vary product features
platform.
and reconfigure workflows
CGI also has major
has been invaluable for us.”
development efforts under
Although trade finance is
way to enhance the Proponix
transition of our ‘legacy’
processing to Proponix,
CGI’s
Cofran
and have continued to
Ensuring
long-term
edge
consolidate and streamline
processing down to our
of Proponix is the shared
a global business, local
platform, including supply
current operations centers in
development of new products
requirements and business
chain finance capabilities,
Canada and China.”
and enhancements to meet
complexities make it rare
support for processing
Joyce goes on to say that
future client demand,”
to find a single integrated
open account instruments,
BMO’s clients have fully
Joyce adds. “By working
platform capable of fully
accounts receivable and
supported this optimisation
cooperatively with CGI and
supporting a bank worldwide.
accounts payable financing,
effort and have felt no
the Proponix client banks,
Not so with Proponix at ANZ,
and enhanced PO and invoice
adverse effects throughout
we are able to leverage
argues Jobson.
capabilities.
the transition, which
our combined knowledge
“We have offices not only in
CGI’s strategy is to provide
she says is testimony to
and experience, share
Australia and New Zealand,
the trade finance platform
the power and flexibility
development costs and
of the platform. “The
spread risks associated with
architecture and design of
technology investment.”
the database and reporting
We think we have created a
pretty unique solution
staff to introduce processing
Helping achieve
competitive
advantage
standards and metrics
A bank can use the
but also in Europe, North
that enables its client banks
to measure operator
Proponix platform to drive
America and 24 Asia Pacific
to compete across the board
proficiency,” she cites. “These
and support its business
countries, all running on
in the trade banking world of
are helpful in targeting
strategy. However, it is the
a single global platform,
the future.
training support effectively
customer service approach,
Proponix, and each with its
“We think we have created a
and identifying opportunities
product offerings, pricing,
own special requirements,”
pretty unique solution,” says
for process improvement.”
service level commitments,
he says. “Using Proponix,
Jame Cofran, senior vice-
Investment in technology
responsiveness and flexibility
we have been able to tailor
president of CGI’s banking
is another aspect that
to meet customer needs,
our products and operations
and investment group.
has plagued banks in the
geographical presence
so that each market is
“CGI’s Proponix capabilities
trade finance space. It isn’t
and overall expertise that
able to retain their unique
truly enable a bank to make
always easy for a bank to
differentiates a bank in the
characteristics and still get
transformational changes
demonstrate significant
marketplace.
the benefits of a common
in how they operate their
return on investment
In other words, having
platform. We have also
business, and the delivery
(ROI) to justify upgrades,
flexible and powerful tools
found that the platform’s
model, a technology hosted
new components or new
as provided with CGI’s
MIS capability enables us
ASP, addresses the strategic
functionality. And it isn’t
Proponix offering is essential
to monitor the performance
evolution of the platform
uncommon to find a bank’s
to realising a bank’s unique
of our business on a variety
to ensure longer-term
trade finance system lagging
competitive strategy, while
of financial and non-
competitiveness.”
tools have allowed our
operations management
98 | Global Trade Review
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