Switzerland's Banque de Commerce & de Placements (BCP) in Dubai has gone live with the web-based version of Credoc trade finance software according to its developers, Micro Informatique & Technologies (MIT).

The system aims to support its BCP's letter of credit (L/C) and other trade finance operations in the Middle East.

Benefits

BCP Dubai's Operations Department Manager Jean-Philippe Albert, reckons the software is "flexible, user-friendly, and adaptable" according to an MIT statement.

MIT's General Manager Paul Cohen, meanwhile, sees the new installation in Dubai as an important step in a region in which he sees the trade finance industry has huge potential for growth.

Functionality

Credoc provides several functions, including full processing of L/Cs and trade finance operations, guarantees, collections, loans, advances and fund transfers.

Switzerland's MIT specialises in developing trade finance software solutions for banks and says its Credoc software is already installed in banks in Switzerland and Europe.

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