CGI's Hotscan360 solution named a market leader for helping enterprises address financial crime compliance

MONTRÉAL, April 16, 2024

Advisory firm, Celent, highlighted CGI's domain expertise and AI capabilities

MONTRÉAL, April 16, 2024 /PRNewswire/ - CGI (TSX: GIB.A) (NYSE: GIB), one of the world's largest business and IT consulting firms, announces that the CGI Hotscan360 business solution has been recognized as a market leader by leading research and advisory firm Celent in its latest Financial Crime Compliance Technology: Watchlist Screening Edition report. Celent placed CGI's Hotscan360, an all-in-one financial crime solution for enterprises, in the highest-rated Luminary category in its new Technology Capabilities Matrix, recognizing the solution for its breadth of functionality and advanced technology.

"With electronic payments becoming faster and more frequent, our ability to help clients protect their organization from financial crime is a key element of our adaptive banking strategy," said Andy Schmidt, Vice-President & Global Industry Lead for Banking at CGI. "By combining scalability, granularity, and AI, CGI's Hotscan360 solution enables clients to quickly scan structured and unstructured message formats at high speeds, and with extremely low false positive rates." 

According to Martin Zelenka, Vice-President, Intellectual Property for Hotscan360 at CGI, "To be designated as a Luminary is a powerful validation of our commitment to helping clients succeed by building secure, market-leading solutions. The increasing sophistication of financial crime, a sharper focus on money laundering by regulators and heightened security concerns across the banking industry are driving the demand for more advanced anti-financial crime tools. There is a critical need for modern solutions like CGI Hotscan360 that deliver integrated, intelligent, and real-time anti-money laundering, customer due diligence, and fraud detection capabilities."

"The digital financial services revolution is creating increasingly complex, high-volume, and fast transactional environments," said Neil Katkov, Director in Celent's Risk practice. "Consequently, financial institutions are facing heightened regulatory demands around screening processes, prompting the adoption of new or updated technologies to enhance screening capabilities."

The Celent report highlights CGI's "domain expertise in watchlist screening" and ability "to run supervised or unsupervised AI models provided by the client." Celent also notes that clients appreciate "the easy configurability of the (CGI Hotscan360) solution, its reliability, and its speed."