Following this announcement, both companies will focus on launching a solution designed to accelerate the digitalisation of trade finance processes for banks and financial institutions. The collaborative strategy will leverage the combined financial expertise and industry knowledge in order to introduce the Tegula Trade Finance-as-a-Service. This will be powered by CREDOC 5G, a Back-End system fully re-designed to use efficient and secure functional, architectural, and technological standards.
TEGULA is expected to optimise the trade finance landscape by providing banks and financial institutions with a comprehensive suite of corporate banking services. This platform will ensure compliance, as well as optimise operational efficiency, while also embracing optimisation to adapt to developing evolving market conditions and client needs.
The platform was developed in order to incorporate various trade finance and documentary business applications, such as not limited to import and export documentary credits, guarantees, collections, and discounts.
Tegula trade finance-as-a-service will also facilitate swift onboarding through efficient and secure implementation on-premises or on a cloud platform. The service-oriented platform will also optimise built-in flexibility to tailor the software according to the different needs, preferences, and demands of banks and users, as well as provide a new level of productivity gains through increased automation methods. The platform is also optimised with the latest generation of security standards.
The collaboration will focus on providing banks and financial institutions with the opportunity to capture revenue growth capabilities by offering effective, secure, and scalable trade finance solutions. The platform will be leveraged in order to ensure access to fintech capabilities, fostering a dynamic and responsive approach to the rapidly evolving financial market.
Tegula trade finance-as-a-service was developed as a cloud-hosted and fully managed suite of services, with all costs being confirmed upfront. The collaboration will provide transparency and security, as well as allow banks to focus on their core business, leaving the challenges that come with trade finance processes to TESSELATE and MITech.
The partnership represents an important step into the company’s strategy to develop its Tech Lab program, enabling the roll-out of our latest generation of Trade Finance services into new geographical segments, as well as industry market areas. Tegula designed by Credoc 5G is expected to provide a plug-and-play service for Trade Finance Organisations of any size, in any places around the globe.
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