MIT (Micro Informatique & Technologies SA), Lausanne announces the launch of a new J2E software called TRAC (Trade Risk Active Control), a Trade Commodity Finance Customer Portfolio Management software for Banks.
The new solution will be officially introduced in May at the“12th Day on Banking Solutions” in Geneva, and later this year in October at the “SIBOS” event in Amsterdam.
TRAC is a front office role-based application destined for Trade Commodity Finance Relationship Managers, Credit Risk Managers, and Top Managers who want to track and monitor theirs risks appropriately. The purpose of the software is to replace the Excel worksheet widely used in the Trade Commodity Finance sector (more information is available at www.mitsa.ch).
“It's an important milestone for our Company”, comments Paul Cohen Dumani, General Manager at MIT, who believes that “Trade Commodity Finance automation is an issue that has never been really addressed by software vendors until now”.
Cohen Dumani adds: “we've been working on the subject for nearly three years, since some Customers and prospects were frequently stressing on the need to develop such an application”. MIT are confident the new solution will achieve success in the Banking industry. “So far, we have received highly positive feedbacks from the Banks having already seen the product” says Cohen Dumani, adding that “a Bank based in Geneva and very active in Trade Commodity Finance, has already licensed TRAC and will go live with the product at the end of the year”.
TRAC is a multi-entity browser-based system. Its flexible architecture allows an easy integration with any core banking solutions, or any other traditional Trade Finance systems including CREDOC.