Safran of France has selected GlobalTrade Corporation (GTC) to install an online multi-bank platform to help manage its trade finance functions.

The conglomerate will use GTC's @GlobalTrade Multi-bank Trade Finance Platform, according to a statement issued by the Canadian software developer.

Guarantees and L/Cs

The platform specifically monitors issued and received bank guarantees and letters of credit.

The software should enable Safran to connect to its multiple banks via a single system that also interfaces with the conglomerate's internal systems.

Automation and security

Safran, a major player in the defence, aerospace and security sectors, should now be able to use the platform to achieve end-to-end automation of its trade finance activities.

The platform should also assist Safran comply with its stringent security policies.

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