16 August 2017
visit www.avoka.com

Union Bank of California moves to Proponix trade finance platform

13 July 2005  |  6409 views  |  0 keyboard

Union Bank of California (UBOC) is migrating its domestic trade finance business to the Proponix pay-per-transaction trade processing platform from Canada's CGI-AMS.

The Proponix platform was acquired by American Management Systems (AMS) in 2002 from joint venture banking partners Barclays, Bank of Montreal (BMO) and ANZ. AMS was later bought out by Canadian IT services firm CGI. At the time, the platform claimed only founding partners ANZ and BMO as clients.

Proponix provides outsourced trade finance processing for banks and provides a Web-based customer portal to clients. The system features built-in workflow and imaging, in-sourcing capabilities, denied party compliance, and online reporting.

A Web-based trade portal enables banking customers to initiate and manage transactions, perform inquiries, view document images, and run up-to-date reports. Trade portal clients also gain access to supply-chain management capabilities, including trade document preparation and collaboration among banks, customers, customers' trading partners and logistic service providers.

George Schindler, SVP and head of the CGI-AMS banking practice, says banks are looking for ways to upgrade trade finance technology, reduce operating costs and offer new products while keeping up-front investment to a minimum.

"Proponix solution enables banks to focus on core business objectives and not worry about the required ongoing technology investment," he adds.

Barbara Hounsell, SVP, commercial loans and trade services operations, comments: "UBOC was looking for a cost-effective solution to enable us to keep pace with technology changes as well as gain the flexibility to adopt future trade strategies as this very competitive market evolves."

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Nova to acquire Union Bank of California's merchant payments business

Nova to acquire Union Bank of California's merchant payments business

28 April 2004  |  3513 views  |  0 comments
BMO Financial moves to Proponix

BMO Financial moves to Proponix

10 March 2004  |  3570 views  |  0 comments
Union Bank and FIN develop post-trade STP solution

Union Bank and FIN develop post-trade STP solution

05 June 2003  |  5403 views  |  0 comments
AMS launches pay-per-transaction Proponix trade finance platform

AMS launches pay-per-transaction Proponix trade finance platform

16 April 2003  |  4518 views  |  0 comments
AMS to buy banking partners out of Proponix joint venture

AMS to buy banking partners out of Proponix joint venture

21 November 2002  |  3814 views  |  0 comments
Proponix launches multi-bank trade finance portal

Proponix launches multi-bank trade finance portal

19 June 2001  |  8052 views  |  0 comments

Related company news

 

Related company information

CGI Group UK

Related blogs

Create a blog about this story (membership required)
visit www.abe-eba.eudownload the paper nowvisit www.dorsum.eu

Top topics

Most viewed Most shared
hands typing furiouslyBI and Analytics - A New Perspective
10910 views 0 | 2 tweets | 12 linkedin
Coinbase raises $100mCoinbase raises $100m
9987 views comments | 14 tweets | 14 linkedin
DBS Bank launches online car selling marketplaceDBS Bank launches online car selling marke...
9369 views comments | 13 tweets | 11 linkedin
China preps central clearing house for mobile payments providersChina preps central clearing house for mob...
9053 views comments | 8 tweets | 15 linkedin
HSBC automates documentary trade processing with IBMHSBC automates documentary trade processin...
8202 views comments | 6 tweets | 21 linkedin

Featured job

Find your next job