Tesselate taps MITech to launch Tegula Trade Finance-as-a-Service

By Gloria Methri

Tesselate and MITech have jointly unveiled a new solution designed to accelerate the digitization of trade finance processes for banks.

This collaborative effort leverages the combined financial expertise and knowledge to introduce Tegula Trade Finance-as-a-Service, powered by CREDOC 5G, a bank-end system re-designed in its fifth Generation using the latest functional, architectural, and technological standards.

Tegula, driven by MITech’s CREDOC 5G, aims to redefine the trade finance landscape by offering banks a comprehensive suite of corporate banking solutions. This all-encompassing platform ensures compliance, enhances operational efficiency and embraces innovation to adapt to evolving market conditions and customer needs.

The platform encompasses various trade finance and documentary business applications, including but not limited to import and export documentary credits, guarantees, collections and discounts.

Tegula Trade Finance-as-a-Service, powered by CREDOC 5G, facilitates swift onboarding through seamless implementation on-premises or on a cloud platform. The service-oriented platform also boasts built-in flexibility to tailor the software according to the unique needs of banks and users, providing a new level of productivity gains through increased automation capability. Security is paramount, with the platform aligning with the latest generation of security standards.

This collaboration aims to empower banks to capture revenue growth opportunities by providing effective, efficient, and scalable trade finance services. The platform ensures seamless access to FinTech innovation and capabilities, fostering a dynamic and responsive approach to the rapidly evolving financial landscape.

“Tegula Trade Finance-as-a-Service is delivered as a cloud-hosted and fully managed service, with all costs confirmed upfront”, said Casimir Veisblat, head of Innovation at Tesselate Group. “This approach ensures transparency and allows banks to focus on their core business, leaving the complexities of trade finance processes to Tesselate and MITech”.

“We are delighted with this strategic alliance with Tesselate. This partnership is a cornerstone of our Tech Lab program enabling the roll-out of our latest generation Trade Finance solutions into new geographical and industry market segments” said Paul Cohen Dumani, President at MITech and Tech Lab Head adding that “Tegula powered by Credoc 5G will provide a plug-and-play solution for Trade Finance Organizations of any sizes, in any place in the world.”