Safran selects GTC's multi-bank trade finance platform

01 February 2012

High-technology group Safran has selected GlobalTrade Corporation’s multi-bank trade finance platform for monitoring trade credits.

Read more: trade and supply chain Safran Paris France trade finance platform GlobalTrade Corporation SWIFTNet MT798

High-technology group Safran has selected Toronto-headquartered GlobalTrade Corporationís @GlobalTrade multi-bank trade finance platform for monitoring issued and received bank guarantees and documentary trade 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. Carine Aujay, head of structured finance at the Safran group, comments: "GTC has gained our confidence thanks to its professional and pragmatic approach as well as its reputation built through previous references within the same industry."

"Safran ran a very professional and detailed selection process. They looked at all aspects of the software including technology, functionality, security, ability to work with SWIFT and competing solutions on the market," says Jacob Katsman, GTC's CEO.

The @GlobalTrade system will allow Safran to achieve end-to-end automation of trade finance activities while complying with its stringent security policies. Nick Pachnev, GTC's CTO explains: "Highly configurable and modular design of @GlobalTrade system provides standard solution for such critical requirements as centralised user identity management, flexible authorisation process and electronic multi-bank connectivity."

Safran is a leading international high-technology group and a tier-1 supplier of systems and equipment for aerospace, defence and security.