Transforming CREDOC operations for Société Générale Algérie
The challenge
Import Documentary Credit (CREDOC) represents the cornerstone of banking portfolio in Algeria, generating over 40% of net banking income. This strategic product carries exceptional operational and regulatory risks—errors trigger penalties of five times the CREDOC value, with industry penalties reaching billions of dollars.
Société Générale Algérie confronted contradictory priorities that threatened both compliance and market position:
- Implement robust regulatory controls to eliminate compliance vulnerabilities and central bank penalties
- Accelerate processing timeframes to establish market leadership in a competitive landscape
The bank needed a solution that would strengthen risk management while simultaneously improving processing efficiency—requirements that traditionally conflict within manual
The Kepler Technologies Team
The Kepler Technologies approach
We transformed SGA’s CREDOC operations through comprehensive digitalization spanning the entire workflow—The process starts with an initial customer branch submission through middle-office validation and back-office processing ending with the release of funds to the client.
Our implementation delivers automated intelligence through the reading and validation of MT700 messages from correspondent bank, thus validating currency and amount parameters without human intervention. This eliminates transcription errors while accelerating processing. Strategic client notifications at critical milestones enhanced visibility throughout the process, dramatically reducing support inquiries.
The solution integrates seamlessly with existing systems through:
- Core Banking System synchronization for customer profiles and credit data
- Corporate directory integration for unified security management
In accordance with the bank’s operational preferences, we delivered the project using a Waterfall methodology with rigorous governance through monthly steering committees and weekly project meetings conducted on-site in Algiers.
The advantages
