Trafec is a top secured communication e-channel between commodity traders and their banks. It enables trading companies to issue and be advised online of trade finance banking instruments such as Documentary Credits, Collections, Guarantees, LOI's but also free text messages Stock and Releases Requests, all of them with various documents attached.
Eight banking STSA Members have created a unique trade finance standard that will become the international reference in the future.
Non STSA Member banks and traders are most welcome to join!!
Tailor Made Solution
As a web based application; everything you need to connect to the platform is an internet connection! Trafec can also be integrated to your own system.
The one time password token makes the connection completely secure and allows a personalisation of the user rights and features.
Once connected, a drop-down menu allows you to choose your banking instrument and the bank you need to send it to.
Amongst other functions, you can track and archive the complete history of your transactions.
The Platform is like an unreadable black box. Each message is encrypted automatically and only the addressee can decrypt it with his/her personal certificate. All servers are hosted and maintained in Switzerland.
For the ultimate in protected access, users employ the latest advance in a “one-time password” card. It is the last word in e-banking user authentication involving a tool as small as a credit card.
To assure users of the highest levels of security, GTSA conducted three audits with three specialised companies to monitor the Platform’s quality and security. All three companies concluded that the Platform far exceeds market standards of quality and security.
The Platform is constrained by banking secrecy rules and under no circumstance may any information be shared with other parties.
The banking Members of STSA – BCGE, BCP, BNPP, BCV, Crédit Agricole, ING, Société Générale and UBS – have pooled their experience and skills to create a unique instrument that permits trade finance transactions to be executed promptly, precisely and in total security.
The idea for the Multi-Bank Platform was inspired by the growing need to standardise exchanges between banks and traders. Both groups knew that it vastly facilitates operations for all parties to communicate through the same channels.
Trafec is live since 2011 and works with 9 banks, and about 70 trading companies. More than 1000 OTP cards have been distributed around the world.
Entities of any size can access the Platform without any in-house development.
You only need an Internet connection to open the dedicated website and your personal login.
Depending on the size of your company, you may wish to interface your in-house tool with the Platform. This requires the Portal Sync, which relieves your works of interface.
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