Société Générale Corporate & Investment Banking (SocGen CIB) has gone live with a Surecomp system in Singapore.
The bank has started to use allTRA, Surecomp’s multi-entity Java trade finance system, which it helped to co-develop.
This latest initiative follows the bank’s roll-out, implemented solely by SocGen, of allTRA in Paris, Geneva and Hong Kong. The bank plans to introduce allTRA at other locations.
Fabrice Rollet, global head of trade commodity finance operations of SocGen, says:” Incorporating and expanding allTRA is expected to deliver distinct performance benefits for both SocGen CIB and our customers, further demonstrating the numerous business advantages we offer and the highly advanced approach we take.
“We are delighted with the performance of allTRA, and have long recognised 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 implementation of allTRA in Singapore is a key element in the bank’s energy and natural resources group’s strategy to expand further its trade commodity finance franchise.
“The decision by SocGen CIB to expand production to Singapore demonstrates the growing international acceptance of allTRA,” adds Joel Koschitzky, Surecomp chairman.
“This move is good news for the bank, its customers, and our larger and ever-increasing community of allTRA clients.”
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.