“The software will be physically installed in Paris and integrated to the Bank’s IT infrastructure, but branches in Europe, Asia and eventually the United States will connect remotely to the system”, says Paul Cohen Dumani, MIT’s General Manager, adding that “it’s a very important success for the Company, which will definitely reinforce the credibility of our latest product TRAC at an international level”.

The implementation project is actually divided into three lots. The first lot will see the Go-live of the Paris and Singapore branches, which is foreseen during first quarter of 2012. The second lot will come in a second phase with other Asian branches connecting to the system. Finally, the third lot should see the New York City branch handling its commodity trade finance business using TRAC.

Olivier Gazzera, Head of Operations for Commodity Trade Finance at Natixis commented: “It came out during the evaluation that TRAC was the system most suited to our needs, since we were looking for a multi-branch system supporting both transactional and borrowing-base financing. Furthermore, the system showed sufficient potential flexibility to support key components of our activities including (among others) the management of any type of limits, sub-limits, swing credit lines, MTM collateral valuation, risk price monitoring, and hedge positions”.

About Natixis (natixis.com)
Natixis is the corporate, investment and financial services arm of BPCE, the 2nd-largest banking group in France with 22% of total bank deposits and 37 million clients spread over two networks, Banques Populaires and Caisses d’Epargne. With around 22,000 employees, Natixis has a number of areas of expertise which are organized in three main business lines: Corporate and Investment Banking, Investment Solutions (asset management, private banking and insurance) and Specialized Financial Services.
A global player, Natixis has its own client base of companies, financial institutions and institutional investors as well as the client base of individuals, professionals and small and medium-size businesses of BPCE’s two retail banking networks.
Listed on the Paris stock exchange, it has a solid financial base with total Tier 1 capital of €16.5 billion, a Tier 1 ratio of 11.6% and quality long-term ratings (Standard & Poor’s and Fitch Ratings: A+; Moody’s: Aa3).
For further information about BPCE: bpce.fr/en

About MIT (mitsa.ch)
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 organizations.
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 is already live at a Bank in Geneva.

For more information please contact:
www.mitsa.ch