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SocGen CIB rolls out Surecomp trade finance system in Singapore

10 June 2014  |  1508 views  |  0 Source: Surecomp

Surecomp, the leading global provider of trade finance solutions for banks and corporations, announced today that Societe Generale Corporate & Investment Banking (SG CIB) has commenced production in Singapore with allTRA, Surecomp's multi-entity Java trade finance system.

Firmly positioned among the leading player in financial services, SG CIB partnered with Surecomp to develop allTRA.

Following the bank's previous roll-out of allTRA in Paris, Geneva and Hong Kong, the implementation in Singapore is a key element in SG CIB Energy & Natural Resources group's strategy to expand further its Trade Commodity Finance franchise. In the future, the bank plans to introduce allTRA at other locations.

With flexible and robust design architecture, allTRA is a state-of-the-art solution that enables the bank's back office to implement a broad range of straight-through processing (STP) functions, dramatically increasing productivity while reducing operational risk. allTRA also aids the bank by enhancing business scalability and resilience.

The roll-out, implemented solely by SG CIB based on its prior familiarity with Surecomp solutions, was accomplished on-time and on-budget.

"Incorporating and expanding allTRA is expected to deliver distinct performance benefits for both SG CIB and our customers, further demonstrating the numerous business advantages we offer and the highly advanced approach we take," said Fabrice Rollet, Global Head of Trade Commodity Finance Operations of SG CIB. "We are delighted with the performance of allTRA, and have long recognized the value that Surecomp delivers to the industry. It's a privilege for us to be a driving force in the evolving allTRA product roadmap."

"The decision by SG CIB to expand production to Singapore demonstrates the growing international acceptance of allTRA," said Joel Koschitzky, Surecomp Chairman. "This move is good news for the Bank, its customers, and our larger and ever-increasing community of allTRA clients." 

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