CGI Gets $33M Contract Renewals In 1H14 - Analyst Blog

CGI Group, Inc. GIB announced that it has been awarded contract renewals and extensions worth over $33 million by Canadian Credit Unions in the first half of fiscal 2014, firmly establishing itself as the market leader in managed banking services and solutions.

HORIZON Financial Suite and RFS Retail Banking, two of the core retail banking offerings of CGI, provide multi-channel integrated functionality in order to simplify and automate banking processes.

CGI has established strong partnerships with more than 100 credit unions, banks and trusts, supporting about 3 million end customers.

Interior Savings Credit Union, a personal and business financial services provider, has selected CGI's RFS banking solution to serve its members in a more efficient and streamlined manner. RFS banking solution provides functionality in designing and management of cash dispensing, teller, online and call center banking activities, and thus, ensures operational efficiency.

Copperfin Credit Union is another financial services entity that has chosen to extend its managed banking services contract with CGI, seeking to leverage the latter's experience and expertise so as to strengthen its operations and drive top-line growth.

CGI is the fifth-largest independent information technology services company in the world. It provides a complete range of post and logistics services and solutions that empower clients to stay ahead of the curve with a fast-evolving business landscape and increasing competition.

CGI Group currently has a Zacks Rank #3 (Hold). Some better-ranked companies in the industry include Carbonite, Inc. CARB, Ebix Inc. EBIX and Innodata Inc. INOD. All these stocks sport a Zacks Rank #1 (Strong Buy).