CGI Group, Inc.
) recently declared the extending of its outsourcing agreement
with League Data to the year 2021. This renewed five-year
contract, which was originally valid till 2016, is worth $30
million Canadian Dollars.
Based in Canada, League Data specializes in providing advanced
computer related services along banking and loan platforms. The
company also offers innovative financial solutions in fields like
online banking, customer relationship management and ATM
services. League Data delivers its IT services primarily to
credit unions in Atlantic Canada.
CGI Group had initially signed this contract in 2002, which
was extended till 2016 later on in 2005.
Under the renewed contract, CGI Group will continue to
administer League's banking technology infrastructure, software
applications and client service desk. CGI Group's responsibility
also includes expanding League's SaaS core banking solution --
HorizonFinancial Suite application -- to incorporate integrated
loan origination, delinquency management and CRM components
Extension of this contract highlights CGI Group's expertise in
the information technology and banking industry.
CGI has received numerous contracts over the past months. The
company won a contract last month, from oil and gas major
Royal Dutch Shell plc
), to serve as a lead Key Application Services (KAS) supplier for
Shell's Projects & Technology business.
Moreover, last month it also won a three-year managed services
contract from telecommunications major, Orange Poland, to aid the
latter's mobile IT business support systems.
CGI Group is an independent information technology and
business process services firm, with about 69,000 employees
across the United States, Europe and Asia Pacific. The company's
services include high-end business and IT consulting, systems
integration, application development and maintenance,
infrastructure management and diverse proprietary solutions. Some
of its proprietary solutions include core banking, loan
origination, CRM and delinquency management solutions.
CGI Group currently carries a Zacks Rank #4 (Sell).
Better-placed stocks in the industry are
Edgewater Technology Inc
). All these stocks hold a Zacks Rank #2 (Buy).
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