Corporate & Investment Banking arm

of the Crédit Agricole Group

Crédit Agricole CIB is taking another step forward in Digital Trade Finance with the adoption of a new interoperability solution, Komgo Konsole API

The Bank has become the first one to implement this solution and experience it with clients. Crédit Agricole CIB has become the first bank offering Komgo* Konsole API, that interfaces its back-end system and @GlobalTrade (GTC), a software used by its corporate clients. This innovative solution complements the existing SWIFTNET(1) connectivity between corporates and banks, providing clients with more choices for their Trade Finance communication. The solution is live for GTC guarantees and will be extended shortly to other Trade Finance products such as Export LCs. For corporates already using Konsole, the interoperability solution is already live for all Trade Finance instruments. A new connectivity to foster interoperability and digitalisation “This follows the full integration of Komgo Konsole in our back office system last year, a multibank platform for automated processing of Documentary Credits, Standby Letters of Credit & Guarantees. This streamlines undoubtedly the Trade Finance world and contributes to its digitalization.  With the extension Konsole APIs, the bank can now be easily connected to any corporate clients using either @GlobalTrade (GTC) or Konsole. By leveraging Komgo's technology, Crédit Agricole CIB continues to pioneer in the field of Trade Finance, supporting interoperability, notably by offering different corporate to bank communication channels.” says Javier Sanchez-Asiain, Global Head of Global Trade Finance at Crédit Agricole CIB. An enhanced customer experience The first clients successfully connected to Crédit Agricole CIB, through this new GTC-Konsole Channel, underlined the efficiency of this connectivity. Mr Mathieu Giovachini (Head of Group Treasury & ALM) from SCOR, the French leading global reinsurance company, appreciates that “this API solution facilitates a streamlined reconciliation process, minimizing discrepancies and ensuring accurate, up-to-date financial data”.   “The smooth implementation and reliable straight-through processing (STP) capabilities reaffirmed that we made the right decision with this innovative channel”, highlights Ms. Tatiana Antonova from SEFE, an international energy company.Since then, additional clients have been connected to Crédit Agricole CIB via this API in various geographies. This new interfacing solution represents an important step forward for our daily operations, contributing to our vision of a global, comprehensive and integrated digital transformation with our clients. * Komgo, recently awarded as the ‘Best Fintech in Trade Finance 2024’ by Global Trade Review (GTR) and recognized as a ‘Trade Finance & Supply Chain’ 2024 leader by Association Française des Trésoriers d’Entreprise (AFTE) is a leading software development and technology services company transforming the Trade Finance industry worldwide. Crédit Agricole Group is cofounder and shareholder of the Swiss company.  (1)SWIFTNET  A standardized SWIFT message solution for secure Trade Finance communication between corporations and banks.