KuveytTürk Bank Streams to Double Customers
and Increase Profit
First to algorithmic trading, reduced cost,
increased efficiency and skills
CHALLENGE
“We were first to use
streaming analytics
software in Turkey, which
enabled us to integrate
different platforms—data
from up to 25 institutions—
into one real-time big data
stream. With the help of
TIBCO StreamBase, we
increased FX volume, and
we became the first bank
in Turkey to provide a Gold
Exchange market.”
—Abdulkerim Ozcan,
Senior Trader
“Investment banking in Turkey transitioned into electronic trading in the last
couple of years, and KuveytTurk was the first bank to transform its investment
banking tools to electronic trading,” says Senior Trader Abdulkerim Ozcan. “We
were searching to increase trading volumes and our customer base in an efficient
way, as well as to increase profits. Our objectives were to integrate our platforms
and internal systems and transform to algorithmic trading.
“Our top challenges were IT and workforce limitations and a reluctance to try
something new. We didn’t have a broad IT background, so we needed a userfriendly solution to accomplish our goals. If we couldn’t meet these challenges,
we would stay at the same level. We wouldn’t be able to increase our customerbase, revenues, and profits.
SOLUTION
“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.
SUCCESS STORY | 2
DETAIL
500 TO 600
MILLION
PER DAY
Increase in trading volumes,
from 250 million
KUVEYTTÜRK
KuveytTurk operates as a
participation bank in Turkey
with five segments: retail, small
business, commercial, corporate;
and treasury, international, and
investment banking.
FAST FACTS
Founded: 1989
Domestic branch offices: 385
Assets (2016): TL48.5B
Profit (2016): TL542M, up 22%
“We heard about TIBCO from another investment bank and began the relationship
three years ago. TIBCO provided a demonstration, and TIBCO Professional
Services provided training on the software, which made us feel comfortable with
it, and with troubleshooting. TIBCO personnel helped us use the software in a
more effective way.
BENEFITS
FIRST TO INTRODUCE TRADING ADVANCEMENTS IN TURKEY
“We were first to use streaming analytics software in Turkey, which enabled us to
integrate different platforms—data from up to 25 institutions—into one real-time
big data stream. With the help of TIBCO StreamBase®, we increased FX volume,
and we became the first bank in Turkey to provide a Gold Exchange market. With
StreamBase®, we can write and deploy an algorithm that has the ability to respond
to a volatile market in real time.
DOUBLED CUSTOMERS AND TRADES
“We increased our customer base more than 100%. In terms of trading volumes, it
also increased by more than 100%. We went from maybe number 10 in Turkey to
now number three or four. We were trading around 250 million a day, and now it’s
between 500 and 600 million a day.
REDUCED COST, INCREASED EFFICIENCY AND SKILLS
“Using StreamBase, we reduced cost, increased trading efficiencies, and because
of the user interface, we were able to engage our workforce and allow them to
focus on trading areas. We were able to establish a team that otherwise would
not be possible to put in place.
FUTURE
“KuveytTurk plans to continue to use StreamBase to integrate trading platforms
into a trading system, increase algorithmic trading projects, and for different
applications in the bank: CRM, pre- and post-trade risk, market data management,
market surveillance, transactional cost analysis.”
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+1 800-420-8450
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03/07/17