SocGen Expands Use of Surecomp's allTRA Trade Finance System
The corporate and investment banking (CIB) division of Paris-based Société Générale (SocGen) has expanded the use of Surecomp’s allTRA beyond France. SocGen CIB partnered with Surecomp to develop allTRA, a Java J2EE bank back office trade finance system.
The production roll-out of allTRA to Geneva and Hong Kong followed by New-York in 4Q11, and then Singapore, forms a key element in the bank’s intention to achieve the objectives of its 2015 plan.
With flexible and robust design architecture, state-of-the-art allTRA enables the bank’s back office to be more productive by allowing for the implementing a board range of straight-through processing (STP) functions, reducing operational risk. allTRA also aids the bank by increasing their business scalability and resilience.
“Incorporating allTRA is expected to deliver distinct performance benefits for Société Générale CIB and in turn to our customers, while further demonstrating the numerous business advantages and highly advanced approach we take,” said Florence Escaffre, global head for trade commodity finance operations of SocGen CIB. “We are delighted with the performance of allTRA and have long recognised the value that Surecomp delivers to the industry. Being a driving force in the allTRA product roadmap is key.”