Fidelity National Information Services, Inc: BANK Selects FIS' Corebank to Drive Retail Banking Transformation Program
(London, UK. -- Fidelity National Information Services, Inc. (NYSE:
FIS), a worldwide leader in processing and technology solutions for
financial institutions, today announced that Turkiye Is Bankasi
(BANK) has selected FIS' Corebank, a next-generation core banking
system for financial institutions outside of the United States, to
support its entire retail banking operation. The selection is part of a
major transformation project to improve customer-centricity.
The Corebank solution will enable BANK to provide better customer
service by streamlining and simplifying all of the processes that are
part of the account life-cycle. BANK also has chosen to migrate to
a Java-compliant environment and will implement Corebank J2EE (Java2
Platform Enterprise Edition).
Corebank J2EE will replace the bank's existing home-grown legacy
applications.
BANK is the largest bank in Turkey and is ranked 53rd in Europe,
based on the bank's consolidated Tier-1 capital strength and assets of
$69 billion, according to The Banker. BANK offers its customers a
comprehensive range of retail products and services, including savings
and term deposit accounts, current accounts, overdrafts, and term loan
and commercial lending.
"We currently are running a project - the Customer-centric
Transformation Program - in which we are substantially investing in a
new IT infrastructure," said Hakan Aran, manager, BANK. "With more
than 15.5 million customer accounts to support, Corebank is central to
this huge transformation programme. Throughout the selection process,
we have been impressed constantly by the depth of industry knowledge
and superior level of commitment shown by FIS. We opted for Corebank
J2EE, as it best suited our requirements. It provides customer-centric
flexibility, integrates to a Java-adapted environment and has proven
capability to match the scale of our operations. We are very excited
about the possibilities Corebank will afford our business."
BANK's decision to find a new core-system environment resulted from
the need to improve operations, reduce costs, improve customer service
and generate new revenues. BANK also wanted to move from its current
hierarchical database onto a relational database.
With Corebank, BANK now has a comprehensive core banking solution
with proven integration, open architecture and robust functionality. A
true real-time, continuous-processing solution, Corebank provides a
multichannel, multibranch, multicurrency, multilingual retail banking
environment.
One of the bank's main objectives is to be able to launch new products
quickly and easily, in response to market demands and changing customer
needs. Product Build, one component of Corebank, is designed to support
faster introduction of innovative product structures and packages.
BANK currently has a strong share of Turkey's lending market and is
eager to build on this to become a leading player in the fast-emerging
mortgage market.
"Corebank's rich design capability and well-structured architecture
will enable us to build innovative products quickly in the rapidly
growing mortgage segment in Turkey - a priority area for our business,"
said Mr Aran. "Rather than relying on proprietary technology as most
banking systems do, Corebank J2EE is a standards-based application,
which means it can flex to react to industry technology trends and
improve processing for our customers' and our prospects' benefit."
"This project is another important milestone in the development of
Corebank," said Mark Davey, managing director for FIS' EMEA region.
"Corebank already is used by more than 150 major banks, and this
project with BANK, one of the biggest banks in one of the world's
fastest growing markets, shows that our technology now has the scale
and breadth of functionality to support the ambitions of even very
large financial institutions. We are excited and proud to be able to
use the most modern technology to power the systems that run at the
heart of the world's most respected banks."