MIT (Micro Informatique & Technologies SA) has just officially completed the opening of an office in Singapore, which will act as MIT operational centre for the Asia Pacific region. Yet another achievement for MIT following its recent announcement that its TRAC (Trade Risk Active Control) Collateral Management system had recently been selected by OCBC to support its growing Trade Commodity Finance business in Asia. The office will already serve two customers in Singapore, namely OCBC and NATIXIS, but plans to grow significantly its regional Customer base within the next two years, and extend its reach well beyond Singapore.
Jean-luc Spinardi, long-time member of the MIT management team, has been appointed “Regional APAC Manager”. Spinardi will run the Singapore office for MIT, and will be in charge of promoting MIT products throughout the region. Jean-luc Spinardi declared “I am very excited with this new challenge, and I am confident MIT’s expertise in Trade Commodity Finance will help our Company to be successful in Asia, and especially in Singapore, the largest Commodity Trade Finance hub in the region”.
MIT (Micro Informatique & Technologies SA) is an independent Swiss company specialized in the development of Trade Finance software solutions for Bankers, such as the famous CREDOC installed in Prestigious Banks in Switzerland, the European market, and the Middle East. CREDOC is available on several platforms, and can be integrated in every type of organization.
MIT launched its new application TRAC (Trade Risk Active Control) in 2010. TRAC is a Risk and Collateral Management application destined for Trade Commodity Finance or Structured Trade Finance Relationship Managers, Credit Risk Managers, and Top Managers who want to track and monitor their risks appropriately. The purpose of the software is to replace the Excel worksheet widely used in the Trade Commodity Finance sector. The product has already been adopted by several banks including UBS AG, NATIXIS, SBERBANK (Switzerland) AG, OCBC, and Banque Cantonale de Genève (BCGE).