Hinduja Bank chooses CREDOC
MIT (Micro Informatique & Technologies SA), Lausanne announces that Hinduja Bank (Switzerland) Ltd has chosen CREDOC as the software to support its Trade Finance operations. The Bank has opted for the Windows based version of CREDOC, perfectly suited for their Trade Finance department. The system will be interfaced with their core Banking system Olympic, and their Swift solution IGT+. The acquisition of a mature Trade Finance system is part of the Bank’s overall strategy in developing its Trade Finance activities in the Swiss market.
“As we go along in learning how to work with the software, we are impressed with the user-friendliness of the system knowing the complexity of Trade Finance transactions” said Pierre-Yves Blanc, head of the Doc Credit Department at Hinduja Bank, adding that “CREDOC will dramatically reduce the time actually spent on processing transactions, which means we will have more time to spend on business development”.
“The flexible architecture of Credoc makes it easy to integrate with other standard banking software in the market; this was a key factor for the Bank when deciding to acquire CREDOC”, declared Paul Cohen Dumani, MIT’s General Manager.
About Hinduja Bank (Switzerland) Ltd (www.hindujabank.com)
Previously known as Amas Bank (Switzerland) Ltd, Hinduja Bank (Switzerland) Ltd was founded as a finance company in 1978 and became a Swiss regulated bank in 1994. Headquartered in Geneva, the Bank has developed its network in Switzerland with offices in Zurich, Lucerne, Basle and St Margrethen. Its global reach includes a presence in Dubai, London, Paris, New York and Mauritius. Over the years, its core businesses have expanded to comprise Wealth Management, Trade Finance Services and Corporate Advisory. The latter includes Mergers & Acquisitions and advice to companies investing in the emerging markets where Hinduja Bank (Switzerland) Ltd has long-standing expertise.
BCP Dubaï goes live with CREDOC
MIT (Micro Informatique & Technologies SA) announces that BCP (Banque de Commerce & de Placements SA), Dubaï went live with the Web based version of CREDOC in order to support its Trade Finance operations in the Middle East.
Jean-Philippe Albert, Operations Department Manager at BCP, Dubaï, a long time user of CREDOC at BCP Geneva, is relishing the fact CREDOC will be used by its department; a tool he defines as “flexible, user-friendly, and adaptable to their varied trade finance operations”.
“This new installation reinforces our already successful collaboration with BCP”, reminds Paul Cohen Dumani, MIT’s General Manager, adding that it’s an important reference for MIT in a region with a huge potential of growth for the Trade Finance industry.
About BCP (www.bcp-bank.com)
Banque de Commerce et de Placements - BCP was established in 1963 as a Swiss bank and is supervised by the Swiss Federal Banking Commission. In 1991, the Cukurova Group of Turkey bought the majority shares of BCP, with the remaining shares owned by Union Bank of Switzerland (UBS). In 1996, Yapi ve Kredi Bankasi A.S. of Turkey purchased UBS' shareholding. BCP's head office is in Geneva. The bank has branches in Luxembourg and Dubai and a representative office in Istanbul. Ever since its creation, BCP has been highly specialized and very active in the areas of Trade Finance, Private Banking, Correspondent Banking, and Treasury services.
NBAD went live with CREDOC
MIT (Micro Informatique & Technologies SA) announces that NBAD Private Bank (Suisse) SA went live with CREDOC as the software to support its developing Trade Finance operations.
After a thorough evaluation of different suppliers in the market, CREDOC has been chosen as the ideal tool to support the Trade Finance and Documentary business activities of the Bank. The system, has been integrated within the Bank’s IT infrastructure, hosted by B-Source, the leading Swiss service Provider in BPO (Business Process Outsourcing).
Urs Ruppli, Chief Operating Officer, at NBAD declared: “We were looking for a highly-user friendly software that we could implement in a very short timeframe. CREDOC proved an answer on both issues. Indeed, whatever transactions our users perform in the system, they always handle them using one same generic process, which makes their life much easier. Furthermore, the system went live in less than 3 months”.
Massimiliano Talento, Account Manager, at B-Source added: “The deadlines were very tight in this project. Therefore, the quality of cooperation between MIT and B-Source was crucial in order to meet the target set by the Bank”.
“We are delighted to work with NBAD, and are more than confident our technology will be a key element in helping the Bank develop its Trade Finance business in Switzerland”, said Paul Cohen Dumani, General Manager at MIT who added: “this new CREDOC installation also reinforces our existing co-operation with B-Source in the Swiss market”.
About NBAD Private Bank (Suisse) SA (www.nbadsuisse.ch)
A fully independent Swiss private bank reflecting Swiss private banking at its best, with an in-depth understanding of Arabian culture in the heart of Geneva. NBAD Private Bank (Suisse) SA is an independent and wholly owned subsidiary of the National Bank of Abu Dhabi Group (NBAD Group).
About B-Source (www.b-source.ch)
B-Source is the leading service provider in the sourcing of Business Process Outsourcing (BPO) and IT Operations Outsourcing (ITO) services to the wealth management industry. Its clients and target market include banks in Switzerland, the EU and their international affiliates. B-Source SA was founded in 1995. Today the company has offices and data centers in Lugano and Zurich. In addition the company has a representative office in St. Gallen.
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