MIT Make Intuitive Tech SA, better known has MITECH, has taken over in January 2020 the operations of MIT Micro Informatique & Technologies SA, which was founded by three brothers who computerized the operations of their international commodity trading company in the early 1970s.
Their success astonished even their own bankers, who, at that time, were still treating all of their documentary credit operations manually. This sparked the idea of founding a software company to automate and streamline banking operations, and led to the creation of MIT in 1984.
Taking advantage of their experience as software users, and teaming up with talented professionals in the software and banking fields, the three brothers succeeded in creating a user friendly software, CREDOC, for the banking industry.
The CREDOC story
CREDOC, an advanced software solution designed for the documentary credit departments of banks, was an immediate success. It was instantly recognized by banking professionals as a most complete software system for the administration and management of such departments.
After more than 30 years of existence and several enhancements using technological developments in banking operations, CREDOC, has been acquired by more than 45 major Swiss and European banks.
More than a thousand users around the world are the best testimony to MITECH's commitment to their clients and to the continuing progress of the products and services.
1986: first release of CREDOC I for the Trade Finance Industry, available on Data General Hardware and Operating system AOS/VS.
1991: first release of CREDOC 2000, Client/Server application on UNIX/AIX platform with Oracle DB.
1997: launch of CREDOC CLIENT INTERNET connecting Banks with their Customers, first Web application on IIS platform with Oracle DB.
1999: launch of CREDOC Windows, first CREDOC solution with a GUI interface, Client/Server application on Windows platform with Oracle DB.
2003: first release of CREDOC Web, an evolution of CREDOC 2000, Thin-Client Web-based CREDOC application on UNIX/AIX or Linux platforms with Oracle DB.
2009: launch of new CREDOC CLIENT INTERNET release available on Windows or Linux platform with Oracle DB.
- 2010: launch of TRAC (Trade Risk Active Control), first Thin-Client Web-based application for the Trade Commodity Finance Industry, available on several platforms (Windows, Linux, AIX,..) with Oracle DB.
- 2019: launch of CREDOC 5G, latest generation "Service Oriented" J2E back-end Trade Finance application completely agnostic in terms of choice of Database, Application Server, and/or Operating System.