According to the press release, Ripple partner public company CGI has partnered with two major Canadian banks – the Bank of Montreal and the National Bank of Canada – to assist them in accelerating their digital transformation through the CGI Trade360 transaction flow.
This includes automating paper documentation flows and improving trade finance operations. CGI has previously improved the efficiency of CGI Trade360 and made trade and finance processes more effective in collaboration with its tech partner Conpend. Conpend’s solution is based on the use of artificial intelligence.
The Bank of Montreal believes that its partnership with CGI will assist it in becoming a digitized Global Trade Finance business.
The Bank of Canada believes that Ripple partner CGI will assist them in producing better and faster digital solutions for their financial trade activities.
Ripple and CGI have been working together since 2015.