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Gold/Mining/Energy : CGI Group (GIB.A) -

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To: BM who wrote (103)9/18/1997 9:37:00 PM
From: BM   of 1673
 
Globe says Interac milestone set

Here's Stockwatch's summary of the article in the Globe. As usual, Stockwatch condenses items down to essential facts which stunts the overall feeling one gets from the article as it appeared in the paper.

CGI Group Inc (The) GIB.A
Shares issued 5,271,423 Sep 16 close $34.50
Wed 17 Sept 97 In the News

The Globe and Mail reports in its Wednesday edition that information technology provider CGI Group has created a new milestone for Interac, which operates Canada's automated teller machine and debit card networks.

Reporter John Partridge says the Montreal-based company has become the first non-financial-institution member of Interac to begin handling live debit and ATM transactions on the networks since the group was forced to broaden its membership as the result of a settlement with federal competition cops over alleged anti-competitive behaviour. On Monday, after months of testing, CGI began processing transactions for the Canadian unit of Republic National Bank of New York. Although Republic National has no ATMs or debit terminals of its own, its customers will be able to use their
bank cards to gain access to their accounts via other banks' machines.

CGI is negotiating similar deals with several other foreign-owned banks.

(c) Copyright 1997 Canjex Publishing Ltd. canada-stockwatch.com
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