The Mauritius Commercial Bank (MCB) is adopting MITECH’s system TRAC (Trade Risk Active Control) to support continuous and significant growth in its Commodity Trade Finance (CTF) business.
TRAC is a Trade Risk and Collateral Management system supporting Structured Trade Commodity Finance. The TRAC solution handles not only Transactional Commodity Finance but Borrowing Base structures as well.
The TRAC software will be implemented on a Cloud infrastructure, with the aim of going-live with the system before the end of the year.
“This contract is a major milestone for MITECH as we are expanding our geographical footprint to support Africa’s intense Trade Finance growth as well as implementing TRAC seamlessly on a Cloud setup. MITECH is proud to welcome yet another prestigious reference in its community of users.” Michael Cohen Dumani, MITECH’s CEO said.
Rajeshwar Pertab, Head of Middle-Office, Mauritius Commercial Bank stated: “We are delighted to be partnering with MITECH and further bolster risk and collateral management within our Commodity Trade Finance business. MITECH’s expertise and TRAC’s extensive functionalities convinced us to adopt the solution and streamline information flow between our customers, front-office and middle-Office teams.”