Hamburg, Germany, January 25, 2016 – Surecomp®, the leading global provider of trade finance solutions for banks and corporations, announced today that Isbank AG, the European arm of Turkey’s leading bank Türkiye Is Bankasi A.S., has commenced production with DOKA 5, Surecomp’s configurable back-office solution for documentary trade finance.
Headquartered in Frankfurt, Isbank leads its parent company’s international expansion plans, and promotes close commercial ties between Turkey and Western Europe. Recognizing that trade finance is vital to building strong international operations; Isbank was interested in improving upon its manually operated trade finance services. It also required a trade finance system that could interface with its Avaloq Core Banking System.
After licensing DOKA 5 in Q2/2015, Isbank rapidly went live with the advanced trade finance system
“We recognize the value for our corporate customers of operating a state-of-the-art trade finance solution," said Uzay Ersin, Corporate Operations Manager at Isbank. "The DOKA 5 system meets our specific need for a comprehensive bank back-office trade finance solution that simplifies the administrative workload, optimizes processes, and saves time and money for both Isbank and our corporate clients. In today’s financial environment, the importance of real-time control and monitoring is paramount, and DOKA 5 helps us achieve these goals as well.”
“DOKA 5 provides a market-ready operational environment that enables banks to better manage their trade finance portfolios, achieve greater workflow control, and gain improved visibility into cash flows, risk exposure and asset management," said Eyal Hareuveny, Surecomp President. "Built on a flexible and scalable platform, DOKA 5 also delivers on-demand reporting across multiple entities and business units, giving Isbank greater insight into their trade finance activities.”
About Isbank AG
Işbank AG was founded in 1992 as a wholly owned subsidiary of Türkiye İş Bankası A.Ş., Turkey’s leading bank. Headquartered in Frankfurt am Main, Işbank AG is the European arm of Türkiye İş Bankası A.Ş. As one of the most well-respected and experienced Turkish banks headquartered in Germany, Isbank AG plays a key role in implementing its parent company’s international expansion plans. Işbank AG is currently one of the leading financial institutions with a Turkish capital interest in Europe, and serves key trading and financial markets across the continent. Isbank AG maintains a network of 13 branches in Germany and four additional branches in the Netherlands, France, Switzerland and Bulgaria. For additional information, visit www.isbank.de.
About DOKA 5®
DOKA 5® is a configurable back-office trade finance solution for local and regional banks. Integrating all major trade finance functions upon delivery, DOKA 5 features comprehensive tool-kit options enabling easy customization based on user preferences. Modular and highly scalable, DOKA 5 carries out daily processing on a transaction-type basis, automatically executing all necessary working steps within each transaction. Featuring an intuitive graphical user interface (GUI), users have access to all transaction screens, the information system, and full online documentation at all times. A SWIFT-certified application, DOKA 5 handles the full range of trade finance transactions.
Surecomp is the leading global provider of trade finance solutions for banks and corporations. A market pioneer for over 25 years, Surecomp maintains a proven track record delivering innovative solutions worldwide. With a global network of regional offices and six state-of-the-art development centers, Surecomp successfully supports hundreds of installations in over 80 countries. Surecomp's integrated portfolio of trade finance and supply chain finance solutions streamlines the transaction lifecycle to minimize costs and maximize profits. For additional information, visit www.surecomp.com.