A Swiss developer of an advanced software solution designed for banks' letter of credit (L/C) departments says a European subsidiary of the National Bank of Abu Dhabi (NBAD) has now gone live with its software.

NBAD Private Bank (Suisse) SA has adopted CREDOC as the software to support its developing trade finance operations.

Swiss technology

Developed by Lausanne based Micro Informatique & Technologies SA (MIT), CREDOC was chosen by NBAD Private Bank after it evaluated different suppliers of solutions aimed at supporting the bank's trade finance and documentary business activities.

The system has been integrated within the bank's IT operation services, which are outsourced to Swiss service provider of business process outsourcing, BSource,

User friendly

Chief Operating Officer at NBAD, Urs Ruppli, describes the MIT solution as "highly user-friendly" and as software that could be implemented "in a very short timeframe." The system went live in less than three months.

Capitalizing on more than 20 years of experience in Trade Finance, CREDOC is installed at banks in Switzerland and elsewhere in Europe. According to MIT, it is available on several platforms and can be integrated in several types of organisations.

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