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VAKIFBANK
ANNUAL REPORT 2014
39
cooperative foundation in line with the loyalty principle. In
2015, VakıfBank aims to expand its customer portfolio and
strengthen its cooperation with its existing clients with
new products and product development.
CASH MANAGEMENT
As part of system upgrade activities launched in 2013
and continued in 2014, Cash Management products were
updated and reorganized under a new structure in line
with the needs and demands of customers. Customer-
specific integration solutions were created for clients,
mainly for public projects. Significant increases were
achieved in all products through effective marketing.
In 2014, the Bank took important steps to rank among
the leading banks in meeting the preference criteria of
commercial and corporate customers by adopting the
latest electronic developments in the finance area. To this
end, VakıfBank entered the market with the e-receipt as
the fourth special integrator bank and signed agreements
with numerous companies for special integratorship
service at the end of 2014 by increasing the number of
cash management products.
The number of customers using Gümkart among customs
duty paying companies continued to increase and the
share of payments made with Gümkart amounted to
45% in the foreign trade tax revenues announced by
the Revenue Administration in 2013. The number of
customers registered in the Gümkart system increased
by 9% at year-end 2014 compared to a year earlier.
Furthermore, in 2014, to be able to serve our customers
with different application demands, the Bank carried out
initiatives for the “Customs Tax Payments via SMS” project
under the competitive market conditions; the project is
expected to be completed in 2015.
The processing infrastructure of the DDS, one of the
most important supply chain financing products offered
by VakıfBank, was completely reconfigured in line with
customer needs and gained a functional structure. The
Direct Debit System (DDS) continued to be marketed
heavily in 2014 for its prime role for commercial
and corporate segments. As a result, new customer
acquisitions increased 28% among corporate and
commercial parent companies and 25% among dealers.
The General Directorate of Forest Establishments was
added to the network of the Dealer Collection System
(DCS); the collection of commodity sales was conducted
via the Bank’s Dealer Collection System. Under the Fee
and Tax Collection of Debt Collection Agencies initiative
launched at the end of 2012 with the infrastructure of the
DCS product, the Bank facilitated the collection of large
sums in 2014; the number of customers in collections
increased by 11% in 2014 and collections were up 80%
over the same period of the previous year.
Within the Institution Collections segment, the number of
institutions VakıfBank mediated collections for increased
by 8% in 2014. In two of the most important accounts in
corporate collections, social security and tax collections,
market shares increased as transaction volumes grew by
24% and 17%, respectively.
The transaction volume of the Mass Payment System,
which reduces the operational overhead of both banks
and customers, increased 129% while the number of
transactions rose 257%. This was mainly due to the fact
that via full integration of the online MPS infrastructure
with the National Judiciary Informatics System (UYAP),
banking transactions at debt collection agencies were
transferred to the electronic environment. In addition,
lawyers who had Barokart were able to transfer money
and use the system in their transactions for UYAP within
the framework of the cooperation with the Union of
Turkish Bar Associations.
Thanks to these developments, income from Cash
Management Products in 2014 increased by 50% over the
previous year.
50%
Income from Cash
Management Products
increased 50% in 2014.