CGI Helps Banks Manage Mortgage and Home Equity Losses and Foreclosures with Enhanced Collections Offering

CGI Group Inc. (TSX: GIB.A; NYSE: GIB), a leading provider of information technology and business process services, announces the launch of the newest version of their end-to end collections and recovery application, CACS® Enterprise, now with enhanced support for mortgage and home equity collections including loss mitigation and foreclosure evaluation and processing.

“In today’s difficult credit environment, collections operations are experiencing a higher volume of delinquent and defaulting mortgage and home equity loans than ever before,” said Jame Cofran, Senior Vice-President, CGI Global Banking & Financial Markets. “This latest release of CACS is focused on helping banks effectively manage the increased volume by automating processes that are still cumbersome, slow and manual in many operations.”

A number of new features and functions have been added to CACS including mortgage processing support for loss mitigation and workout program evaluation, foreclosure worksheets for property valuation and equity analysis, and expanded support for customer level processing. In addition, the new release of CACS provides dynamic scripting to guide collectors through the customer interview process, resulting in more consistent customer treatment, as well as tools to simplify the conversion of existing charge-off accounts into CACS Enterprise and Recovery Accounting.

CGI’s newest release builds upon the highly successful CACS Enterprise offering, which provides advanced workflow features necessary to maximize the effectiveness of an organization’s collections and recovery treatments, optimize the deployment of collectors, effectively manage third parties and speed the collections of impaired accounts. By tightly integrating collections operations with recovery operations, regardless of whether they are managed in-house or through outside partners, organizations can reduce credit losses and minimize expenses.

For over 30 years, CGI has provided IT and business process services to financial institutions around the world including 21 of the top 25 U.S. banks and 45 of 50 top banks in the Americas and Europe. CGI banking-focused solutions include core banking, end-to-end wealth management, trade finance, business intelligence/data warehousing and customer relationship management. CACS has been implemented at more than 100 organizations worldwide, including seven of the top 10 U.S. banks and six of the top 10 banks worldwide, and numerous telecommunications, energy utilities, retailers and state and local governments.