After issuing an RFP sent out to a different vendors in search for a Commodity Trade Finance Risk & Collateral Management System, Natixis has chosen MIT’s software TRAC (Trade Risk Active Control) to support its Commodity Trade Finance teams around the world.
The implementation project is actually divided into three lots. The first lot will see the Go-live of the Paris and Singapore branches, which is foreseen during first quarter of 2012. The second lot will come in a second phase with other Asian branches connecting to the system. Finally, the third lot should see the New York City branch handling its commodity trade finance business using TRAC.
About Natixis (www.natixis.com)
Natixis is the corporate, investment and financial services arm of BPCE, the 2nd-largest banking group in France with 22% of total bank deposits and 37 million clients spread over two networks, Banques Populaires and Caisses d’Epargne.
With around 22,000 employees, Natixis has a number of areas of expertise which are organized in three main business lines: Corporate and Investment Banking, Investment Solutions (asset management, private banking and insurance) and Specialized Financial Services.
A global player, Natixis has its own client base of companies, financial institutions and institutional investors as well as the client base of individuals, professionals and small and medium-size businesses of BPCE’s two retail banking networks.
Listed on the Paris stock exchange, it has a solid financial base with total Tier 1 capital of €16.5 billion, a Tier 1 ratio of 11.6% and quality long-term ratings (Standard & Poor’s and Fitch Ratings: A+; Moody’s: Aa3).
For further information about BPCE: www.bpce.fr/en
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 organizations.
MIT launched its new application TRAC (Trade Risk Active Control) in 2010. TRAC is a Risk and Collateral Management appl ication destined for Trade 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 is already live at a Bank in Geneva.
For more information, please download the PDF press communicate or contact:
Micro Informatique & Technologies SA
Rue de l'industrie, 58
CH-1030 Bussigny près Lausanne