This is the first successful core banking implementation in Turkey, blending innovative local practices with global best practices. This deployment empowers T-Bank to meet the needs of retail and corporate customer segments with faster product rollout and improved customer service.
T-Bank offers a wide range of corporate, private and retail banking services to its customers in the Turkey market. As part of its strategy to meet its growth objective, the bank embarked on this transformation to a new age technology platform with the globally proven Infosys Finacle.
The deployment broke new ground in several ways. Notable highlights of the implementation include:
• Future-ready IT architecture to support strategic growth T-Bank launched Finacle simultaneously across a network of 27 branches. With Finacle, the bank now has a robust and feature-rich technology infrastructure, allowing them to scale up to meet their future growth;
• Fast and flexible product rollout improves competitiveness Finacle enables T-Bank to rapidly design, launch and deliver new products and services. In a market renowned for being at the forefront of banking innovation, this strengthens T-Bank’s ability to compete on their home turf;
• Extensive localization to meet local market needs Central to the program’s success was the deployment of a system localized to meet market needs. As part of this deployment, Finacle addressed and delivered Turkey-specific banking capabilities such as funds transfer and clearance, transactional security and multi-currency support. The system also provides support for Turkish language;
• Fully compliant with Turkish regulatory requirements The solution is fully compliant with the requirements of the domestic regulator, Banking, Regulation and Supervision Agency (BRSA).
Haragopal M, Global Head Finacle, Infosys:
“This partnership reflects the desire for innovation in Turkey’s dynamic financial services sector and Finacle’s track record in driving transformation in banks across the world. The successful implementation is a clear testimony of our strong delivery capabilities, and we look forward to helping T-Bank continue to bring new compelling products and services quickly to its customers.”
Dincer Alpman, Chief Executive Officer, T-Bank:
"A best-in-class technology platform is imperative for growth. T-Bank is pleased to have pioneered the first full-fledged core banking implementation in Turkey with the globally recognized solution from Infosys Finacle and flawless project management from Cedar Consulting. The successful rollout of this platform will augment our vision for delivering quality products and services to our customers."
Ílhan Zeki Köroglu, Chief Information Officer, T-Bank:
"Finacle core banking solution was selected after a thorough review of global systems. The successful implementation has helped us benefit from global best practices, which will help us provide exemplary customer service, streamlined operations and innovation in products."
The technology transformation exercise, Project Future, featured Infosys in an alliance with local sales partner Segmentist. The program was managed by Cedar Consulting, a leading management and IT consulting firm.
V. Ramkumar, Senior Director, Cedar Consulting:
"This is a landmark project for the Turkey market and will help bring in a fresh burst of innovation in banking technology and practices."
About Turkland Bank
T-Bank has an established presence in the Turkish banking sector, through a team of more than 500 employees, across 27 branches, located throughout the major industrial and financial centers in the country. T-Bank continues to selectively expand its network in Turkey by branching out in areas with vibrant economic and trade activities. The bank emerged as one of the fastest growing mid-sized banks in Turkey, specialized in providing customized premium banking services to the commercial business sector as well as to small and medium-sized enterprises (SMEs). The bank offers a comprehensive range of services including treasury and cash management, investment services and trade finance. Personal banking services are also available for the executives and shareholders of T-Bank’s corporate clients. In addition, T-Bank benefits from the well-developed network of its shareholders (Arab Bank Plc 28%, Arab Bank Switzerland 22% and Bank Med Sal 50%) in the MENA region, enabling the bank to further expand the scope of its services beyond the Turkish borders bridging the gap between Turkish and Middle Eastern companies.
Infosys (infosys.com) partners with global enterprises to drive their innovation-led growth. That's why Forbes ranked Infosys #19 among the top 100 most innovative companies. As a leading provider of next-generation consulting, technology and outsourcing solutions, Infosys helps clients in more than 30 countries realize their goals.
Certain statements in this release concerning our future growth prospects are forward-looking statements, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, fluctuations in foreign exchange rates, our ability to manage growth, intense competition in IT services including those factors which may affect our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, industry segment concentration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks or system failures, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which Infosys has made strategic investments, withdrawal or expiration of governmental fiscal incentives, political instability and regional conflicts, legal restrictions on raising capital or acquiring companies outside India, and unauthorized use of our intellectual property and general economic conditions affecting our industry. Additional risks that could affect our future operating results are more fully described in our United States Securities and Exchange Commission filings including our Annual Report on Form 20-F for the fiscal year ended March 31, 2012 and on Form 6-K for the quarter ended June 30, 2012, September 30, 2012 and December 31, 2012. These filings are available at sec.gov. Infosys may, from time to time, make additional written and oral forward-looking statements, including statements contained in the company's filings with the Securities and Exchange Commission and our reports to shareholders. The company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the company.
Abhijith Karthikeya D - Infosys, India
P: +91 80 41563373 - E: Abhijith_Damodar[.]infosys.com.
Danielle D'Angelo, Infosys, US
P: +1 925 719 7602 - E: Danielle_Dangelo[.]infosys.com.