As part of its continuous growth in Trade Commodity Finance demonstrated in the past years, BIC BRED (Suisse) SA has opted to license CREDOC 5G, the latest generation Trade Finance software released by MIT MAKE INTUITIVE TECH SA, better known as MITECH.
CREDOC 5G, designed for small, medium, and large financial institutions, is built on a modern “Service oriented” architecture embedding best of breed “Workflow Engine”, “Rules Engine”, and “Business Activity monitoring” components, while facilitating seamless integration to the digitized Trade Finance world.
Franck Nater, Deputy General Manager and COO at BIC BRED (Suisse) SA declared “CREDOC sets the standard for Trade Finance in the Geneva Commodity Finance hub, and we are pleased to acquire a robust Trade Finance system with enlarged capabilities to support our growing volumes in Documentary business and Guarantees”.
“BIC BRED is the 4th financial institution deciding to adopt CREDOC 5G, since we started the commercialization of our latest Trade Finance back-end system 18 months ago” commented Michael Cohen-Dumani, CEO at MITECH adding that “it is a promising start which demonstrates the attractivity of the new technology combined with our know how of more than 35 years in Trade Finance automation”.
About BIC BRED ( )
Based in Geneva for close to 25 years as an overseas branch, BIC-BRED (Suisse) SA is from this point forward a Swiss bank, having obtained the approval of the Swiss Financial Markets Supervisory Authority (FINMA) in August 2015. BIC BRED (Suisse) SA is a wholly owned subsidiary of the BRED Banque Populaire, one of the main stakeholders of the BPCE Group which is the second largest banking group in France.
The mission of BIC-BRED (Suisse) SA is to assist the development of companies, engaged in the trade of energy, agricultural and metal commodities. The bank deals in transaction financing and/or revolving credit facilities, BIC-BRED (Suisse) SA also offers a wide range of products and services designed to provide its clients with a first-class service based on quality, flexibility and security.
Thanks to the support of the BRED Group, BIC-BRED (Suisse) SA is able to meet the needs of its clients, from the simplest to the most complex in all banking sectors: International, FX, derivatives, cash management, banking relations, structured financing, and debt solutions.