Spar Nord Bank adopts MIT's front to back Trade Finance platform
Bussigny, February 2nd 2015
MIT (Micro Informatique & Technologies SA) is pleased to announce that Spar Nord Bank in Denmark has opted for MIT's front to back Trade Finance platform to replace its existing systems. The platform is composed of CREDOC WINDOWS, MIT’s flagship back-office Trade Finance solution, and CREDOC CLIENT INTERNET, a web front-end solution allowing Banks’s customers to send in their requests to issue Trade Finance transactions.
The systems will be hosted by BEC in Denmark, as CREDOC WINDOWS will be operated by the Spar Nord Bank’s Trade Finance team located in Aalborg.
Hanne Balling, Head of International Divison at Spar Nord Bank declared: “We have the ambition to go-live with MIT’s systems in a very short time frame, so MIT’s proven capacity to implement fast is key for us”.
“We are happy to welcome Spar Nord Bank in our community of users as well as to extend our existing cooperation with BEC” declared Paul Cohen Dumani, General Manager at MIT. BEC already services MIT’s CREDOC WINDOWS and CREDOC CLIENT INTERNET for two other Banks in Denmark: Handelsbanken and Nykredit.
About Spar Nord Bank (www.sparnordbank.com)
Spar Nord was founded in 1824 and is today one of Denmark's major banks. The core of Spar Nord's business model and strategy is the ambition to run a simple retail bank with clear focus on common household and local area small and medium-sized business. Furthermore Spar Nord Bank's international and trading division offer all kinds of support to business customers including products related to their international affairs.
It is the bank's ambition to combine the local bank's physical and mental presence with the economies of scale associated with being a nationwide chain - and thus be an attractive banking for customers, employees and shareholders.
About BEC (www.bec.dk)
BEC is a Danish, full-service IT house dating back to 1964, with more than 50 years of experience in developing and operating IT systems for financial institutions operating in Denmark.
The idea behind BEC is joint development of IT solutions. Customers with expertise in specific business areas co-operate closely with BEC to create coherent, intuitive and comprehensive solutions for both smaller and larger banks – main stream and niche banks.
BEC has different sets of governance models tied to our customers in order to satisfy their need for influence in the development of BEC.
About MIT (www.mitsa.ch)
MIT (Micro Informatique & Technologies SA) is an independent Swiss company specialized in the development of Trade Finance software solutions for Bankers, such as the famous CREDOC installed in Prestigious Banks in Switzerland, the European market, and the Middle East. CREDOC is available on several platforms, and can be integrated in every type of organization.
MIT launched its new application TRAC (Trade Risk Active Control) in 2010. TRAC is a Risk and Collateral Management application destined forTrade Commodity Finance or Structured Trade Finance Relationship Managers, Credit Risk Managers, and Top Managers who want to track and monitor their risks appropriately. The purpose of the software is to replace the Excel worksheet widely used in the Trade Commodity Finance sector. The product has already been adopted by UBS AG, NATIXIS, NBAD Private Bank (Suisse) SA, and Banque Cantonale de Genève (BCGE).
For more information please contact:
MIT (Micro Informatique & Technologies SA)
Rue de l'Industrie 58
CH-1030 Bussigny près Lausanne
Tel : +41 (21) 318 81 81