20 May 2016

İşbank successfully migrated to Avaloq Banking Suite

The Avaloq group today announced that İşbank AG has commissioned the Avaloq Banking Suite as its new core banking system.

Frankfurt am Main-based İşbank AG is the European subsidiary of Türkiye İş Bankası A.Ş., the biggest private bank in Turkey. İşbank has a wide network of branches spanning Germany, France, Switzerland, Bulgaria and the Netherlands. The bank concentrates on corporate and retail banking.

İşbank is the first bank in Germany focused on retail and corporate banking to opt for the fully integrated, broadly scalable core banking system from Avaloq. The other banks in Germany that rely on Avaloq solutions include BHF-BANK AG, Julius Bär Europe AG, Tradegate AG Wertpapierhandelsbank, Bank Vontobel Europe AG, V-BANK AG and quirin bank AG.

İşbank CEO Burak Seyrek explains why the bank decided to collaborate with Avaloq: "Our growth strategy demands a modern, high quality technology platform. With Avaloq, we benefit from a high innovation rate together with synergies within the Avaloq Community for things like regulatory requirements. We also now have a consistent system across several European countries. The resulting improvement in data quality enables us to better anticipate market needs and changes, and hence respond more fully to the demanding expectations our customers have in terms of quality."

Klaus Rausch, General Manager Central & Eastern Europe at Avaloq, comments: "The roll-out of the Avaloq Banking Suite will give İşbank simplified, standardised processes. This will help secure İşbank's high quality standards and boost its operating efficiency. We're delighted to have successfully implemented an Avaloq solution for yet another bank in the growing German market."

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