London, UK – June 10, 2014 – 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.”
Société Générale is one of the largest European financial services groups. Based on a diversified universal banking model, the Group combines financial solidity with a strategy of sustainable growth, and aims to be the reference for relationship banking, recognised on its markets, close to clients, chosen for the quality and commitment of its teams.
Société Générale has been playing a vital role in the economy for 150 years. With more than 148,000 employees, based in 76 countries, we accompany 32 million clients throughout the world on a daily basis. Societe Generale’s teams offer advice and services to individual, corporate and institutional customers in three core businesses:
- Retail banking in France with the Société Générale branch network, Credit du Nord and Boursorama, offering a comprehensive range of multichannel financial services on the leading edge of digital innovation;
- International retail banking, financial services and insurance with a presence in emerging economies and leading specialised businesses;
- Corporate and investment banking, private banking, asset management and securities services, with recognised expertise, top international rankings and integrated solutions.
Société Générale is included in the main socially responsible investment indices: Dow Jones Sustainability Index (Europe), FSTE4Good (Global and Europe), Euronext Vigeo (Global, Europe, Eurozone and France), ESI Excellence (Europe) from Ethibel and 5 of the STOXX ESG Leaders indices.
For additional information visit, www.societegenerale.com or follow on twitter @societegenerale.
Société Générale Corporate & Investment Banking
At the core of Societe Generale’s universal banking business model, the Corporate & Investment Bank is a well-diversified and leading player with nearly 12,000 professionals present in 31 countries across Europe, the Americas and Asia-Pacific.
Standing by its clients across sectors, the Corporate & Investment Bank tailors solutions for them by capitalising on its worldwide expertise in investment banking, global finance, and global markets.
- For Corporates, Financial Institutions and public sector: providing a global advisory approach (M&A, debt, equity transaction, capital structure, and asset & liability management), as well as quality capital raising solutions across the debt and equity spectrum, optimised financing and expert risk management responses notably in the realm of foreign exchange and rates derivatives.
- For investors: offering reliable and sound investment opportunities and risk management solutions through its integrated global markets platform delivering seamless access to markets (equity, rates, credit, currencies, commodities and derivatives), as well as advice and solid financial engineering, quality of execution and forward-looking research across asset classes.
For additional information visit, www.sgcib.com
Developed entirely in the advanced Java multi-platform environment, allTRA meets the trade finance requirements of banks of all sizes. allTRA streamlines the processing of a wide array of trade finance transactions including commercial and standby letters of credit (L/Cs), industrial revenue bonds, guarantees, collections, reimbursements and clean payments. Fully SWIFT-compliant, allTRA also provides enhanced support for all forms of financing such as acceptances, discounted paper and fixed/floating rate loans.
Surecomp is the leading global provider of trade finance solutions for banks and corporations. A market pioneer for over 25 years, Surecomp maintains a proven track record delivering innovative solutions worldwide. With a global network of regional offices and six state-of-the-art development centers, Surecomp successfully supports hundreds of installations in over 80 countries. Surecomp's integrated portfolio of trade finance and supply chain finance solutions streamlines the transaction lifecycle to minimize costs and maximize profits.
Surecomp’s full-range of award-winning solutions will be showcased later this year at Sibos 2014, which is to be held in Boston at the Boston Convention & Exhibition Center from September 29 to October 2. Delegates to Sibos 2014 are invited to contact Surecomp and arrange a meeting. www.surecomp.com.