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Home > News
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19/07/2004
Finansbank signed an outsourcing agreement with Banksoft for its card-based
payment systems software
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Finansbank,
the fifth largest bank in Turkey by asset size, outsourced its card-based
payment systems software to Banksoft and the related hardware and operations to
IBM, in order to implement its banking services. With the outsourcing
agreement, Banksoft will provide and maintain the software for Finansbank’s
credit cards, debit cards, ATMs and POS terminals, while IBM will manage the
systems and supply the hardware. With the worldwide increasing use of
outsourcing in information technology in the financial sector, banks can
concentrate on their core banking activities, while handing over the
sophisticated IT activities to companies with expertise on their respective
fields. Finansbank will form a new and separate IT center where the hardware
and the unified management of the systems will be set up. The product
development and software support will be provided by Banksoft specialists.
“This is another step in solidifying our claim to be Turkish financial sector’s
most advanced bank in service delivery and utilizing technology the most
efficiently” said Finansbank management. “By leaving the technology intensive
card operations to companies with expertise, we will be able to concentrate on
our principal banking services.” “Today, card-based payment systems are a
critical product family of primary importance. Banks have to keep in step with
the increasing competition and rapidly evolving technology, and to offer new
services in the shortest possible time to their customers” said Ismet
Yurtseven, general manager of Banksoft. “The outsourcing model used in
Finansbank perfectly matches the contemporary requirements of financial
institutions and allows them to concentrate on their core activities while
accelerating new product development and lowering costs. The new approach we
formed with a leading bank like Finansbank, will constitute a model for the
banking sector.”
About
Banksoft
Istanbul-based Banksoft, is a
leading provider of retail banking solutions. Its solutions includes credit
& debit card management, ATM driving and monitoring, ISO-8583 switching,
POS network management, EBPP and EMV-compliant smart cards. Today, over 11
million credit cards and 20 million debit cards are managed by Banksoft.
The solutions fully support EMV standards and are used by the first European
bank to obtain both Visa and MasterCard certifications (www.emvco.com).
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