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PART I: INTRODUCTION
Improvements in product range and service
offer led to successful results in Cash Management
products in 2015.
System upgrade activities continued in 2015
and new upgrades were carried out in response
to changing market trends, working conditions
and the applicable legislation. Improvements in
product range and service offer led to successful
results in Cash Management products in 2015.
In the field of corporate collections, which
allow firms and individuals to pay their taxes,
SSK/Bağ-Kur premiums, tuition fees as well
as power, water, phone, nature gas and ADSL
bills via VakıfBank, new protocols were signed
and infrastructure upgrades were effectuated
in 2015. Important public sector projects such
as title deed and tax payments for Turkish Coal
Enterprises, Turkish Atomic Energy Authority,
Türksat E-Payment scheme were intermediated
by the Bank. As a result of improvements
to collection diversity, service quality and
infrastructure, corporate collections rose by
27% over the year 2014. In two of the most
important accounts in corporate collections,
tax and social security collections, transaction
volumes grew by 37% and 48% respectively.
VakıfBank made intense efforts to market
Gümkart, which enables export and import firms
to effectuate their payments in swift, secure
and productive way in 2015 and acquired new
customers, increasing Gümkart collections
by 20% over the prior year. Designed in due
consideration of competitive market conditions
and customer demands and needs as an
alternative to current customs tax payment
methods, the “Customs Tax Payments via SMS”
project was completed in 2015 and customers
started to pay their customs tax with SMS via
mobile phones.
The processing infrastructure of the Direct Debit
System (DDS), which ensures the swift and
secure collection by parent companies of their
receivables from customers, gained a very
functional structure upon the overhaul of the
Bank’s IT infrastructure. As a result there was a
33% increase in collections via DDS.
Playing a significant role in supply chain
financing, the Dealer Collection System
(DCS) exhibited a significant growth over
the previous year, as volume of collections
rose by 7% and number of customers in
collections by 134% in 2015. The General
Directorate of Forestry (OGM) was added
to the network of the DCS as a parent
company and through intensive marketing
efforts in 2015, the OGM Kart, designed
specially for the directorate, came to play
an important role in DCS collections.
There was a rise in the total active customer
number of the Mass Payment System, which
reduces the operational overhead of both
banks and customers by effectuating automatic
payments for customers who have a large
money transfer and EFT transaction volume,
as well as that of the Mass Cheque Collection
System, which makes it easier for firms to
monitor their cheques, and automatizes
data entries for cheque performance by the
accounting or finance departments.
There was a ten-fold increase in the number
of customers enjoying electronic receipt
issue, dispatch, receiving and archiving
services from the Bank as part of its E-Invoce
Special Integrator Services. Upgrades for the
E-Transformation projects continued in 2015.
The Bank finalized its preliminary work on the
E-Ledger meant to swiftly meet regulatory and
customer needs, and initiated its software and
archiving services for the E-Ledger. Another key
upgrade in 2015 concerned the automatization
of the entry of E-Invoice data to the accounting
software.
PROJECTIONS FOR 2016
Accordingly, in 2016 the Bank will continue to
develop all of its cash management products
in response to competitive market conditions
and customer needs, and view product quality
and customer satisfaction as its number one
priority. The Bank plans to design and roll out
new products in line with customer needs and
technological advancements.
CASH MANAGEMENT
