Surecomp, a leading provider of integrated enabling technologies for the banking and financial market, today announced that Paris-headquartered Société Générale Corporate & Investment Banking (SG CIB) is live with ALLtra, Surecomp's SOA compliant multi-platform environment back office trade finance system.
ALLtra, Surecomp's newest back-office trade finance solution developed entirely in Java J2EE, combines technology, innovation, and unrivaled industry expertise with quality software development and execution, ensuring scalability, portability and flexibility. Designed in conjunction with the SG CIB; the Bank acted as a beta site prior to commencing roll-out in France.
Specializing in Euro capital markets, derivatives and structured trade finance, SG CIB, one of three core businesses of the Société Générale Group, alongside Retail Banking and Global Investment Management Services, is the 3rd largest corporate and investment bank in the Euro zone by net banking income. Present in more than 45 countries across Europe, the Americas and Asia-Pacific, Société Générale CIB employs around 10,000 professionals.
The introduction of ALLtra to the SG CIB arsenal of added-value solutions promises to drive performance by:
- Improving productivity and ensuring faster transaction processing
- Providing the capability to manage increased volume at marginal incremental costs
- Offering flexibility
- Substantially reducing medium to long-term TCO
- Improving levels of ROI
Addressing the joint SG CIB / Surecomp project steering committee, Valery Tatin, Head of IT Mining, Commodities Finance Division, SG CIB, Paris said. "We embarked on this ambitious journey in 2004 fully confident that in Surecomp we had a stable, proven development partner. We have not been disappointed. Surecomp has been a consistent partner in all phases of the project. Taking an idea from conception to roll-out in just two years has been a groundbreaking experience for all involved. This Paris roll-out is a first step in our vision of a global trade finance Information System. And ALLtra delivers what we envisaged, a sophisticated solution encompassing a large range of trade finance modules and features with the flexibility that comes only from new technologies."
"It's no secret that SG CIB IB returned an excellent financial and commercial performances in 2005 achieving one of the strongest growths in the industry and making it the most profitable bank in its sector in Europe. These achievements are the result of the profitable growth strategy that SG CIB has been pursuing for the past three years, identifying new development projects. The ALLtra initiative contributes to one such project by improving our Information System and our processing capability." concluded Valery Tatin.
Adding his good wishes, Joel Koschitzky, Surecomp Chairman & CEO remarked "There are those in the market who claim that a single trade finance back office solution customized to individual bank requirements is the way to go. We at Surecomp disagreed believing that "one size does not fit all" and that each bank's requirements are unique to them. With the launch of ALLtra by SG CIB, we not only feel vindicated but far more importantly we know that the Bank has a winning trade finance solution that will serve them for many years to come, helping to stamp their footprint globally and significantly contributing to their growth and revenue."