PORT LOUIS, MAURITIUS – EQS Newswire – July 9, 2021 – The Mauritius Commercial Bank Ltd (MCB) (www.MCB.mu) is applying the Trade Risk Active Control -TRAC system (rough translation). : Proactive control of trade risks) of MITECH to support continued and significant growth in its Commodity Trade Finance (CTF) activity. Trade Risk Management and Collateral Structured Commodity Trade Financing TRAC Solutions not only handle Transactional Commodity Financing, but also loan facility structures.The TRAC software will be deployed on the Cloud infrastructure, with the aim of being operational with the system expected before the end of the year.Michael Cohen Dumani, CEO of MITECH commented: “This contract is an important milestone for MITECH, as we are expanding our geographic reach to support strong growth. of Africa Trade Facilitation as well as ongoing TRAC deployment in the Cloud.MITECH is proud to welcome another reputable reference in its user community.”Mr. Rajeshwar Pertab, Head of Intermediary Office of MCB, said: “We are delighted to partner with MITECH and further strengthen the risk and collateral management of our Commercial Financing business. our chemistry.MITECH's expertise and TRAC's extensive capabilities convinced us to adopt the solution and streamline communication between our customers, the back-office team, and the back-office."Download image 1: https://bit.ly/2SZZkQTDownload image 2: https://bit.ly/3jZ15J3Information about MCBWith its 182-year history, The Mauritius Commercial Bank Ltd (MCB) has grown into an integrated banking and financial services organization, providing innovative solutions and tailored to a diverse customer base. , from retail to corporate and institutional.MCB is always committed to serving customers wholeheartedly.With a culture of innovation and high-quality staff, MCB has underpinned a solid franchise and a long track record of sustainable profitability and sound financials.MCB has also established a physical presence in 10 countries, through subsidiaries in Madagascar, Seychelles and Maldives, representative offices in Johannesburg, Nairobi, Paris and Dubai, as well as partner banks namely Société Générale Moçambique and Banque Française Commerciale Océan Indien (BFCOI – operating in Réunion Island, Mayotte and Paris).Information about MITECHIn January 2020, MIT Make Intuitive Tech SA (MITECH) (www.MITSA.ch) took over the operations of MIT Micro Informatique & Technologies SA (MIT) with more than 35 years of experience in automation Support trade finance.MITECH is a financial technology (Fintech) company based in Switzerland specializing in the development of software solutions for Trade Finance Support for banks, such as the famous CREDOC software installed in banks. Prestigious banks in Switzerland, Europe and the Middle East.MITECH has its headquarters in Lausanne in Switzerland and regional offices in Singapore and Belgrade (Serbia).In 2010, TRAC – a Collateral Management system that supports the financial intermediaries of commercial commodities was launched.The purpose of the software is to replace the Excel spreadsheet that is widely used in the field of Merchandise Trade Finance Facilitation to track credit facilities.The product has been accepted and used by reputable banks including NATIXIS, UBS, OCBC and MUFG.Recently, MITECH has released a brand new version of its popular back-end trade finance product.CREDOC 5G is a rich web application, multi-entity (branch/bank), multi-time zone and multi-language/alphabet system.CREDOC 5G is designed using a modern “Service Oriented” architecture that embeds the best components of “Workflow Engine”, “Rules Engine” and “Business Activity Monitoring”. business".CREDOC 5G is truly "agnostic" in terms of the underlying operating system, application server, and database.CREDOC 5G has been licensed by 3 financial institutions, including Bankmed (Suisse) SA of Switzerland.