MITECH Unveils TECH Lab
- IT Innovations
- 16.02.2021 02:16 pm
MITECH since early January has been reorganizing all new product initiatives under MITECH Lab resources to coordinate upgrades of legacy MIT platforms, new products already in development pipeline, and the expanding alliance delivery and fulfillment.
MITECH Lab will oversee the empowerment of all MITECH solutions to address the Open Banking, FinTech, and broader market initiatives of openness and connectivity to multiple risk and compliance assets, multiple transaction platforms, and multiple payments rails. Therefore, the front office to back-office and settlement solutions, and processes from remote clients, such as SMEs, of financial institutions, will have expanded functionality and flexible technology stacks to extend connectivity while managing the full business footprint.
MITECH Lab is already well underway with rolling out new product upgrades early this year, re-engineering as well as exploration with clients of various third-party applications to integrate seamlessly into MITECH trade finance enterprise solution deployed by MITECH clients.
Beginning of last year, MITECH released a brand-new version of its well-known back-end Trade Finance product. CREDOC 5G is a Rich Web Client, multi-entity (Branch/bank), multi-time zone, and multi-language/alphabet system. It was designed using a modern “Service oriented” architecture embedding best of breed “Workflow Engine”, “Rules Engine”, and “Business Activity monitoring” components. CREDOC 5G is truly “agnostic” in terms of underlying Operating System, Application Server, and Database. CREDOC 5G has already been licensed by three financial institutions including Bankmed (Suisse) SA.
The MITECH Lab will be overseen by the MITECH President, Mr. Paul Cohen Dumani. MITECH Lab is already operating across three geographic locations such as Lausanne head office, off-site development in Belgrade, and Asian office in Singapore.
“We have been responding to the demand of the marketplace and accelerating our development and expanding our capabilities through the MITECH Lab,” comments Paul Cohen Dumani, MITECH’s President, adding that “the continual provision of new end-to end platform extensibilities will extend the value and risk management of current and future MITECH clients.”