Architecht, a technology company, established by Kuveyt Türk, as the only bank in Turkey with two R&D centers, has become an important technology exporter of our country within just three years. Now, more than 60 banks in 20 countries including Nigeria, Malaysia, Indonesia and Egypt will use the banking software developed by Kuveyt Türk. In total, a software export of 120 million TL will have been made.
Standing out with its technology and innovation investments, Kuveyt Türk is now extending its local success to abroad in this area.
The local software developed by the Bank using in-house resources shall be used at more than 60 banks in 20 countries.
Reminding that they have established the first R&D Center in 2010 in Turkish banking sector and that Kuveyt Türk is currently the only bank that has two R&D centers, Mr. Mücahit Gündebahar, Manager of Kuveyt Türk Information Technologies Group briefed about the software export. Stating that the projects and products developed at the R&D center have been marketed by Architecht Bilişim Sistemleri ve Pazarlama Ticaret A.Ş., established by Kuveyt Türk with 100 percent Turkish capital three years ago, Mücahit Gündebahar said, “With its a staff of more than 300 engineers, our firm Architect invests in financing, mobile and security technologies. Architect has turned into a technology exporter with big projects conducted at home and abroad in addition to the pioneering products developed within a short period of time. With the commercialization of the banking projects produced at our R&D centers so far, sales amount of millions of dollars were made at home and abroad.”
Kuveyt Türk’s BOA is to be used in 60 banks
Stating that Architect has concluded its most recent important deal for its BOA Banking Platform developed exclusively by Turkish engineers at its R&D centers which led a new era in improvement of banking processes, Mr. Mücahit Gündebahar was quoted as saying, “Architect has made a deal with the Kuwait-based software firm ITS that has a software development center in Egypt and selling banking systems. The company has exported all the technology of all the processes ranging from branch automation to mobile branch and ATM to operation center. More than 60 banks in 20 countries including Nigeria, Malaysia, Indonesia and Egypt will use the technologies developed by Kuveyt Türk. The systems shall be put into operation after the project has been completed and it will be deployed in all countries within a couple of years. Within three years, we will have exported software of 120 million TL.
“We contribute to decrease of software imports”
Mr. Mücahit Gündebahar stressing that the products and projects developed at Şekerpinar Banking Operation and Life Center and R&D centers located in Konya have also been preferred by domestic customers said, “Vakif Participation Bank as well as Posta Participation Bank and Emlak Participation Bank whose establishment process area underway have preferred the BOA Banking Platform, our national software. In addition, we have contributed to the decrease of financial software imports and foreign exchange transfer to abroad thanks to our sales to Turkcell Financing in 2017 and Posta Participation Bank in 2018. On the other hand, we employ persons with doctorate degree in an effort to prevent so-called brain drain and keep our national intellectual capital within our country. Faculty members can also take part in projects developed in our R&D centers durirg their sabbatical leave”.
What is BOA Banking Platform?
BOA Banking Platform developed by Kuveyt Türk allows for the entire banking system including all the channels to run on a single platform. This integrated system lowering IT operation and investment costs and accelerating the processes offers substantial benefits especially in terms of new product development.
BOA Banking Platform as well as Your Bank digital banking platform, a first in Turkish participation banking, application module of sukuk (lease certificate) initial public offering transaction, another innovation in Turkey, API Market Platform enabling the entrepreneurs and FinTech developers to develop new applications more easily and swiftly are only a few examples of the works performed by Kuveyt Türk R&D Centers.