VKF_FRAE_2018_uyg11

60 Section I: Introduction Gümkart, an award-winning VakıfBank product, continued to be used at an increasing rate among customers who make customs duty payments. In 2018, VakıfBank mediated in the collection of 48% of total customs duties in Turkey. Furthermore, the Bank posted a 46% increase year-on-year in the number of customers who use the Customs Duty Payment by SMS service, offered to VakıfBank customers as an alternative payment method. In 2018, VakıfBank signed new agreements and upgraded its systems infrastructure as part of corporate collections. The Bank recorded a 5% increase in the number of institutions whose collections are mediated by VakıfBank. Major public sector projects, such as Transportation Card, Zoning Reconciliation and Paid Military Service, were included in the collection system. VakıfBank boosted its market share in Social Security Institution (SGK) and tax collections – two of the most important categories in corporate collections – with year-on-year increases of 30% and 9%, respectively, in terms of volume. Cash Management has actively pursued close cooperation with digitalization and financial technology (Fin-Tech) companies as a strategic objective. As a result, VakıfBank has established integration with many electronic money companies. Furthermore, with the collaboration between VakıfBank and ComPay Payment, the Bank presented its customers with the opportunity to use online money transfers on 21 e-commerce sites, as an alternative to credit cards. VakıfBank closely monitors technological advances in cash management and introduces innovative products and services in line with its goal of being the strength on the side of its customers and stakeholders. VakıfBank manages its retail and commercial customer relations with a strategic focus on loyalty and customer focus and produce tailor-made solutions for its customers. As it does every year, in 2019 as well, the Bank aims to expand its customer base further with new products shaping the market and further enrich its partnerships with existing customers. Performance in 2018 VakıfBank completely upgraded the IT systems infrastructure of the Direct Debit System (DDS), one of the most widespread products in supply chain finance; as a result, DDS has acquired a functional structure that is more responsive to customer needs. Since the Bank’s DDS offering is especially important to the commercial and corporate segments, it was actively marketed to these customer groups. In 2018, the Bank recorded a 19% increase in parent company acquisitions and a 14% increase in dealer/ customer acquisitions. VakıfBank’s Dealer Collection System (DCS), offered to customers as an alternative supply chain financing product, continued to grow at an accelerating pace in 2018. The number of customers registered in the system jumped 59% while the volume of collections soared 110%. Cash Management Cash Management has actively pursued close cooperation with digitalization and financial technology (Fin-Tech) companies as a strategic objective. As a result, VakıfBank has established integration with many electronic money companies. VakıfBank is on your side with innovative services shaping the market... REVIEW OF OPERATIONS IN 2018