World Omni Financial Corp Partners with CGI to Enhance Collections Capabilities

In a significant move aimed at optimizing its collections operations while reducing operating costs, World Omni Financial Corp has partnered with leading IT and business process services provider CGI (NYSE: GIB) (TSX: GIB.A). Under the terms of a seven-year, multi-million dollar contract, CGI will implement its comprehensive collections and recovery managed service, Collections360, to help World Omni improve its credit systems.

As a diversified automotive financial services company, World Omni has been seeking a cost-effective solution to upgrade and enhance its existing collections environment while meeting its ongoing business and technology objectives in a changing market. With CGI's expertise and experience in the financial sector, the company was well-positioned to provide both a customizable solution to meet their technology needs and dedicated support staff to manage it.

'We were looking for a partner that could help us transform our core technologies and processes quickly, and CGI was the best fit,' said Charles Gordon, Vice President for World Omni's Portfolio Management Office. 'Their managed service solution offers the flexibility we need to adapt to rapidly changing business needs.'

CGI has been providing IT, business process, and managed services to financial institutions around the world for over 35 years, including 23 of the top 25 banks in the Americas and 16 of the top 25 European banks. The company's market-proven solution, Collections360, is designed to optimize collections while reducing operating costs.

'We are uniquely positioned to help World Omni improve its credit systems with Collections360,' said Peter Ihrig, Senior Vice-President, CGI. 'Our end-to-end approach will modernize their technology infrastructure by consolidating business applications on a single platform to improve the effectiveness of collections, recovery, recovery accounting, and decision management operations.'

In addition to implementing the comprehensive collections and recovery managed service, CGI will also provide application maintenance and support services required for ongoing operations.

By partnering with CGI, World Omni is poised to streamline its collections processes, reduce costs, and improve overall business performance. The agreement marks a significant milestone in the company's efforts to enhance its credit systems and stay ahead of the curve in an increasingly competitive market.

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