The migration was driven by the need for enhanced scalability and efficiency to support Isbank’s growing customer base. Additionally, the Avaloq Banking Suite offers advanced digital capabilities and improved automation, which are essential for staying competitive in the rapidly evolving financial sector. This transition is expected to streamline operations and enhance customer service by providing more personalized and innovative banking solutions.
The migration process presented several challenges, including data integration complexities and the need to ensure system compatibility. There was also the task of training staff to adapt to the new system while maintaining seamless customer service. Furthermore, mitigating potential security risks during the transition was crucial to protect sensitive customer information.
The Avaloq Banking Suite provides advanced digital capabilities such as real-time data analytics, enabling banks to gain deeper insights into customer behavior and preferences. It also offers robust mobile banking features, allowing customers to manage their finances conveniently from their smartphones. Additionally, the system supports seamless integration with third-party fintech services, enhancing the overall customer experience with innovative solutions.
Ensuring system compatibility during the migration was crucial to avoid disruptions in banking operations. It was essential to align the new system with existing infrastructure to prevent data loss and maintain uninterrupted service delivery. By addressing compatibility concerns, Isbank aimed to provide a smooth transition for both its employees and customers, minimizing the risk of operational downtime and ensuring customer satisfaction.
Customer satisfaction is a critical component in the banking industry as it directly impacts customer retention and loyalty. Satisfied customers are more likely to continue using a bank’s services and recommend them to others, which can lead to increased business and market share. Additionally, high levels of customer satisfaction can help differentiate a bank from its competitors, fostering a positive reputation and trust in the brand.
Avaloq is a premium provider of front-to-back software and services for over 170 financial institutions around the world. Clients include private banks, wealth managers and investment managers, as well as retail and neo banks. Avaloq develop software that can be deployed flexibly through cloud-based Software as a Service (SaaS) or on-premises and offer Banking Operations outsourcing through our Business Process as a Service (BPaaS) model. Avaloq is a subsidiary of NEC Corporation, a global leader in the integration of IT and network technologies.
İşbank offers products and services to its customers in corporate, commercial, SME, retail and private banking areas with its around 22 thousand employees, nearly 1,200 domestic branches and approximately 6,400 ATMs by the end of 2021, together with its advanced digital banking channels. İşbank also operates abroad with its branches abroad located in the Turkish Republic of Northern Cyprus, England, Kosovo, Iraq and Bahrain; 100% owned subsidiaries in Germany, Russia and Georgia; and with its representative offices in China and Egypt. The Bank is the largest private bank in Turkey in terms of total assets, loans, deposits and shareholders’ equity, number of branches and ATMs.