Celestica Partners with CGI to Enhance ABN AMRO's FX Settlement Capabilities
- CGI partners with ABN AMRO to enhance FX settlement capabilities using its Continuous Linked System (CLS) Manager solution.
- The migration to CGI’s CLS Manager improves ABN AMRO's operational efficiency and control over FX settlement processes.
- CGI's 25 years of CLS expertise supports ABN AMRO's strategic development in the global financial market.
CGI Partners with ABN AMRO to Enhance FX Settlement Capabilities
In a significant advancement for the financial services sector, CGI has partnered with ABN AMRO Bank to bolster its Foreign Exchange (FX) settlement capabilities through the implementation of CGI’s Continuous Linked System (CLS) Manager solution. This strategic collaboration allows ABN AMRO to elevate its position from a third-party participant to a full settlement member of the CLS Bank FX Clearing network. This transition not only enhances ABN AMRO's control over its FX settlement processes but also mitigates associated risks, providing the bank with the ability to expand its services to third-party clients.
The successful migration to CGI's CLS Manager, which features robust automation, monitoring, and reconciliation capabilities, marks a pivotal milestone for ABN AMRO. The bank celebrates its successful completion of its first CLS settlement day, demonstrating the operational efficiency the new system brings to its business operations. Dick van Driel from ABN AMRO emphasizes the seamless integration and customized solutions provided by CGI, which are essential for enhancing the bank's FX settlement framework. Such enhancements are vital in an increasingly complex financial landscape where operational resilience is paramount.
CGI’s extensive experience in CLS solutions, spanning over 25 years, equips ABN AMRO with a suite of comprehensive offerings, including CLS Settlement and CLSNet. These tools are designed to meet specific client requirements, such as internal multilateral netting and the adoption of SWIFT CBPR+ ISO 20022 messaging. Frank Tezzi, Vice President at CGI, reiterates the company’s commitment to supporting ABN AMRO’s strategic development within the global financial market. With this partnership, CGI not only reinforces its position as a leader in technology and professional services but also underscores its role in facilitating the digital transformation journeys of its clients.
In addition to this collaboration, CGI's workforce of 94,000 professionals worldwide continues to provide a diverse range of IT and business consulting services, systems integration, and managed services. This extensive expertise positions CGI as a critical player in the ongoing evolution of financial services, particularly in the realm of digital transformation.
This partnership represents a notable shift for ABN AMRO as it enhances its operational capabilities within the global FX market, reflecting broader trends in the industry toward greater efficiency and risk management in financial transactions. The successful implementation of CGI’s CLS Manager solution marks an important step forward for both companies as they navigate the complexities of modern financial operations.