Last Updated February 08, 2012
Technology group Safran has selected GTC’s @GlobalTrade multi-bank trade finance platform for monitoring issued and received bank guarantees and documentary credits.
GTC's software will enable Safran to connect to its multiple banks through SwiftNet using MT 798 messages and will be interfaced with Safran’s internal systems.
"The MT 798 is used in the corporate-to-bank environment to cater for import letters of credit, export letters of credit and guarantees/standby letters of credit," Andre Casterman, head of trade and supply chain at Swift tells GTR.
"@GlobalTrade system will allow Safran to achieve end-to-end automation of trade finance activities while complying with its stringent security policies,” says Nick Pachnev, GTC's chief technology officer.
"Highly configurable and modular design of @GlobalTrade system provides a standard solution for such critical requirements as centralised user identity management, flexible authorisation process and electronic multibank connectivity," Pachnev adds.