In Turkey, Kuveyt Turk operates as a participation bank, recruiting other banks to participate and share risks and profits. It conducts business in five segments: retail, small business, commercial, corporate; and treasury, international, and investment banking, and wanted to efficiently increase trading volumes and its customer base.
“Our objectives were to integrate our platforms and internal systems and transform to algorithmic trading,” says Senior Trader Abdulkerim Ozcan. “We had four basic decision-making points (user friendly interface, less code development, cost, and customer support) that we compared for two vendors, Oracle and TIBCO. Oracle was the first option because we had history. But our industry challenges included continuously changing and emerging markets and increasing requirements for pricing, volumes of data and transactions, and speed. And we lacked industry standards. We analyzed both companies using the four criteria and decided on TIBCO.”
Read about the successes Kuveyt Turk Bank had with its TIBCO systems, including a 2X increase in FX volumes and customers, new efficiencies, and reduced costs.
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