Canadian Payments Association renews IT contract with CGI

Friday 18 March 2005 11:42 CET | News

The Canadian Payments Association (CPA), Canadas operator of clearing and settlement systems, has chosen to renew its partnership with CGI Group Inc. for a ten-year contract valued at CDN$23 million.

As part of the contract, CGI will continue to provide mainframe hosting and telecommunications services as well as disaster recovery services for mission- critical systems. The CPA operates one of the most efficient, reliable payment systems in the world. Also, the CPA has selected CGI for another project - to develop an Exchange Control System (ECS) as a key component of the CPAs cheque imaging initiative. The ECS will be used by CPA member financial institutions who act as Direct Clearers and others in the exchange and routing of images and data as part of an industry-wide plan to modernize Canadas cheque clearing system using image technology. The project includes the development and support of the ECS as well as a partnership between CGI and CPA whereby CGI will market this solution to financial institutions worldwide.

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Categories: Payments & Commerce | Payments General
Countries: World
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Payments & Commerce