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Overview & Update -  Jan 13th 2003


EZENET Corp. (TSE: EZE), headquartered in Toronto with additional offices in the U.S., was a leader in providing integrated technology solutions for banking and financial institutions. EZENET offered a suite of industry-leading, modular, IP-based applications designed to enable financial institutions to scale new products and services in response to customer demand and emerging front-end technologies. EZENET’s software solutions were widely deployed across most of Canada’s largest banks, major financial institutions, and several trust and insurance companies.

The company's prestigious client list included Bank of Montreal, Scotia Bank, TD Canada Trust, CIBC, HSBC, Laurentian Bank of Canada, National Bank of Canada, Royal Bank of Canada, Merrill Lynch, TD Waterhouse, and many others.  client list,

In March 2000, EZENET successfully completed a $50-million Special Warrants equity financing led by Co-Founder and CEO, Kasra Meshkin. In September 2000, the company expanded its capabilities by acquiring Wealth Management Solutions Inc. (WMSI), a Toronto-based software developer for the financial services sector, known for its expertise in investment plan and asset administration systems.

In September 2001, EZENET was acquired by COGNICASE in a transaction valued at approximately $54 million. Subsequently, in January 2003, COGNICASE was acquired by CGI Group for $334 million. Today, both EZENET Corp. and COGNICASE Inc. operate under the CGI Group umbrella (NYSE: GIB, TSX: GIB.A). For more information, visit www.cgi.com.


Synopsis 


From banking systems to custom applications, Ezenet provides all the financial software packages, network services, security and Internet applications required by banks, trust companies and financial institutions, including:

  • Deposit programs for GICs, RSPs, RIFs, saving and checking accounts and lines of credit, across multiple currencies
  • Loan programs for revolving and term loans, mortgages and securitization of loans
  • Lease systems including portfolio tracking, management and securitization
  • Annuities including calculation and reporting programs

We design and manage any data center requirements within our clients' existing IT infrastructure. Our platform is programmed to provide all the necessary applications, functionality and security required by a full-service institution, but at a fraction of the cost of a bespoke in-house solution. Ezenet works in partnership with customers to provide an efficient, scalable, and cost-effective technology solution.

With recent infusions of investment funding, a firm commitment to research and development, and a strategy of acquisition and alliances, Ezenet is now well placed to expand its product offering to include end-to-end integrated technology solutions for the entire financial transaction market.

Adhering to our core values of partnership, cost-effectiveness and improved customer efficiency, we are working with our clients to help them provide their consumers with new levels of personalized service. We build great technology and we follow it through with new solutions and custom applications that are flexible and scalable enough to meet the changing demands of today's consumer-focused financial services industry.

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