Barclays integrates CGITrade360 solution with Komgo’s trade finance platform

Business consulting services firm CGI has partnered with Barclays to integrate its global trade finance solution, CGITrade360, with Komgo’s platform Konsole.

Connecting Komgo’s multi-bank network with CGI’s processing capabilities aims to provide Barclays with increased transaction speed, reduce the need for manual entry, improve transaction transparency and lower operating risk.

Barclays’ corporate clients using the Komgo platform will experience a “fully automated workflow” for trade finance transactions that flow to the bank.

CGI Trade360 supports more than 50 products in areas such as traditional trade, payables, receivables, and cash management, giving banks the ability to scale their trade business.

Corporate clients increasingly expect “digital-first solutions for their global trade finance needs”, according to Jaya Vohra, managing director, global head of trade and working capital at Barclays.

“By integrating Komgo with CGI Trade360, we will be providing our clients with a fully digital experience while simplifying operations processing. This is a crucial step in our ongoing commitment to digitalizing trade and providing faster, more efficient solutions,” Vohra added.

“CGI is dedicated to advancing the digitization of trade finance by acting as the bridge between institutions and innovative fintech networks, ensuring the industry, and our clients, can scale confidently,” said Neil Sadler, senior vice president, banking and financial markets at CGI in the UK.

Software development and technology services company Komgo offers solutions to support treasury, credit and trade finance teams, and has a customer base that includes more than 300 multinational corporations and global trade banks.

“Together, we are enabling faster, more secure, and fully digital trade finance workflows – a concrete step towards the truly connected ecosystem that global corporates expect,” Michael Mandell, managing director, Americas at Komgo, added.