Lake Geneva Park, January 16th 2024
TESSELATE and MITech, renowned, have jointly unveiled a groundbreaking solution aimed at accelerating the digitization of trade finance processes for banks. This collaborative effort leverages the combined financial expertise and industry knowledge to introduce Tegula Trade Finance-as-a-Service, powered by CREDOC 5G, a state-of-the-art Back-End system fully re-designed in its fifth Generation using the latest functional, architectural and technological standards.
TEGULA, driven by MITech’s CREDOC 5G, is set to redefine the trade finance landscape by offering banks a comprehensive suite of corporate banking solutions. This all- encompassing platform ensures compliance, enhances operational efficiency, and embraces innovation to adapt to evolving market conditions and customer needs.
The platform encompasses various trade finance and documentary business applications, including but not limited to import and export documentary credits, guarantees, collections and discounts.
TEGULA TRADE FINANCE-AS-A-SERVICE, powered by CREDOC 5G, facilitates swift onboarding through seamless implementation on-premises or on a cloud platform. The Service-oriented platform also boasts built-in flexibility to tailor the software according to the unique needs of banks and users, providing a new level of productivity gains through increased automation capability. Security is paramount, with the platform aligning with the latest generation of security standards.
This collaboration aims to empower banks to capture revenue growth opportunities by providing effective, efficient, and scalable trade finance services. The platform ensures seamless access to FinTech innovation and capabilities, fostering a dynamic and responsive approach to the rapidly evolving financial landscape.
“TEGULA TRADE FINANCE-AS-A-SERVICE is delivered as a cloud-hosted and fully managed services, with all costs confirmed upfront” says Nicolas Pochon, Domain Lead Trade & Supply Chain Finance. “This approach ensures transparency and allows banks to focus on their core business, leaving the complexities of trade finance processes to TESSELATE and MITech”.
“We are delighted of this strategic alliance with Tesselate. This partnership is a cornerstone of our Tech Lab program enabling the roll-out of our latest generation Trade Finance solutions into new geographical and industry market segments” comments Paul Cohen Dumani, President at MITech and Tech Lab Head adding that “Tegula powered by Credoc 5G will provide a plug-and-play solution for Trade Finance Organizations of any sizes, in any place in the world.”About Tesselate:
Tesselate has more than a decade of experience in consulting and managing technological projects dedicated to the financial sector, with an in-depth expertise in corporate banking, risk management, capital markets and asset management. Tesselate Group offers a deep experience in managing complex projects, helping financial institutions to meet organizational and operational changes to support business growth. Our consultants have a deep understanding of banking processes. We implement cutting edge technology to streamline banking operations giving your company excellent value so that value can be passed to your customers.
Tegula Trade Finance-as-a-service is the brand of Tesselate Group. For more information please visit:
MIT Make Intuitive Tech SA (MITech) is a Swiss-based Fintech specialized in the development of Trade Finance software solutions for Bankers, capitalizing on more than 35 years of experience in Trade Finance automation. MITECH enjoys a loyal base of prestigious financial institutions including among others NATIXIS, UBS, OCBC, MCB, BCP, BCGE and MUFG.
MITech flagship product CREDOC is a comprehensive Back-End Trade Finance system automating Letters of Credits, Guarantees and Documentary Collections. Its latest upgrade, CREDOC 5G, is a Rich Web Client, multi-entity (Branch/bank), multi-time zone, and multi-language/alphabet system. It was designed using the latest generation of “Service oriented” architecture embedding best of breed Workflow Engine, Rules Engine, and Business Activity monitoring components. CREDOC 5G is truly agnostic in terms of underlying Operating System, Application Server, and Database.
Another key product is TRAC (Trade Risk Active Control), a Middle-Office Trade Commodity Finance Collateral Management system. The purpose of the software is to replace the Excel spreadsheet widely used in the Trade Commodity Finance sector to monitor Credit Facilities.
MITech is headquartered in the Lausanne area in Switzerland with regional offices in Singapore and Belgrade.
For more information please visit:
MIT Make Intuitive Tech S.A.
MIT ASIA Pte Ltd