MIT (Micro Informatique & Technologies SA) is pleased to announce that Mitsubishi UFJ Financial Group, Inc. (MUFG) has successfully gone live with MIT’s TRAC (Trade Risk Active Control) system. TRAC is a Collateral Management solution supporting Structured Trade Commodity Finance.
The project started at the end of 2017, after MIT was selected by MUFG following a competitive process to support its Commodity Trade Finance team in London, with a view to potentially implementing it globally in a second stage.
Jean-Marie Le Fouest, Head of Commodity & Structured Trade Finance EMEA said: “We’ve strongly increased the business over the past two years, and it was vital for us to adopt a robust system to support our significant growth”.
Paul Cohen Dumani, MIT’s General Manager declared: “We’re happy to welcome such a prestigious reference in our community of users” adding that “TRAC’s true multi-branch and multi time-zone architecture will be key, when MUFG decides to roll out the system globally”.
About MUFG (www.mufg.jp/english )
Mitsubishi UFJ Financial Group, Inc. (MUFG) is one of the world’s leading financial groups. Headquartered in Tokyo and with approximately 360 years of history, MUFG has a global network with over 1,800 offices in more than 50 countries. The Group has over 150,000 employees, and offers services including commercial banking, trust banking, securities, credit cards, consumer finance, asset management, and leasing.
The Group aims to be the world’s most trusted financial group through close collaboration among its operating companies, and to respond to all of the financial needs of its clients, serving society, and fostering shared and sustainable growth for a better world.
MUFG’s shares trade on the Tokyo, Nagoya, and New York stock exchanges.
The project started at the end of 2017, after MIT was selected by MUFG following a competitive process to support its Commodity Trade Finance team in London, with a view to potentially implementing it globally in a second stage.
Jean-Marie Le Fouest, Head of Commodity & Structured Trade Finance EMEA said: “We’ve strongly increased the business over the past two years, and it was vital for us to adopt a robust system to support our significant growth”.
Paul Cohen Dumani, MIT’s General Manager declared: “We’re happy to welcome such a prestigious reference in our community of users” adding that “TRAC’s true multi-branch and multi time-zone architecture will be key, when MUFG decides to roll out the system globally”.
About MUFG (www.mufg.jp/english )
Mitsubishi UFJ Financial Group, Inc. (MUFG) is one of the world’s leading financial groups. Headquartered in Tokyo and with approximately 360 years of history, MUFG has a global network with over 1,800 offices in more than 50 countries. The Group has over 150,000 employees, and offers services including commercial banking, trust banking, securities, credit cards, consumer finance, asset management, and leasing.
The Group aims to be the world’s most trusted financial group through close collaboration among its operating companies, and to respond to all of the financial needs of its clients, serving society, and fostering shared and sustainable growth for a better world.
MUFG’s shares trade on the Tokyo, Nagoya, and New York stock exchanges.