Turkland Bank (T-Bank), one of Turkey’s private banks has completed the installation of the Infosys Finacle core banking solution, which includes customer relationship management (CRM) and treasury modules, following the award of the contract in 2010.
The now live deployment of the Infosys Finacle software will enable T-bank to roll-out products faster and improve customer services, says the Turkish bank, helping to meet the growing needs of retail and corporate customers in a fast expanding economy.
According to the partners this is the first successful core banking implementation in Turkey, blending local practices with global best practices, although the country is in fact renowned for its advanced mobile banking services and, in common with other emergent markets, has often skipped legacy solutions to move to the most advanced solutions in one step. Integrating everything into an over-arching core banking solution will help to deliver consistency however.
According to T-Bank notable highlights of the implementation include:
• A future-proofed IT architecture that can now support strategic growth: T-Bank launched Finacle simultaneously across a network of 27 branches in Turkey this quarter. With the new core banking system now in place the bank has a robust and feature-rich technology infrastructure to better serve its clients.
• Fast and flexible product rollout will improve competitiveness: The Infosys solution should enable T-Bank to rapidly design, launch and deliver new products and services via the mobile channel or other segmented areas more easily than in the past. As other Turkish banks innovate this means T-Bank will be able to stay competitive in their home country.
• Extensive customisation capabilities: Central to the rollout of the core banking solution has been its flexibility, allowing localised market needs to be met. As part of this deployment, Finacle has for example delivered Turkey specific banking capabilities, such as national funds transfer and clearance, transactional security and multi-currency support for corporate clients with international operations. The system also supports the Turkish language.
Finally, the new core banking solution is also fully compliant with all relevant Turkish regulations, claims the vendor, as enforced by the domestic Banking, Regulation and Supervision Agency (BRSA).
The long-running technology transformation exercise entitled ‘Project Future’ was installed by Infosys’ local sales partner, Segmentist, with the aid of local IT advisory firm, Cedar Consulting.
"Finacle core banking was selected after a thorough review of global systems,” explains Ílhan Zeki Köroglu, chief information officer (CIO) of T-bank, harking back to the 2010 contract award. “The successful implementation has now helped us benefit from global best practices, which will help us provide exemplary customer service, streamlined operations and better innovation in products."
According to Dincer Alpman, chief executive officer (CEO): “T-bank is pleased to have pioneered the first full-fledged core banking implementation in Turkey with the globally recognised solution from Infosys Finacle. The successful rollout of this platform will augment our vision for delivering quality products and services to our customers."