EXIMBANK put its Digital Transformation into practice through VeriBranch Omnichannel Platform Turkish EXIMBANK
As a government entity structured to support Turkish exporters and cover insurance and credit needs in 1987, Eximbank established a strong online payment infrastructure, while transferring its manual insurance and SOIK (Pre-shipment Finance Credit) operations into internet channel. Eximbank preferred VeriPark expertise and VeriBranch banking infrastructure for Insurance Internet Branches, Online Payment Infrastructure and SOIK (Pre-payment Finance Credit) Internet Branch projects which were respectively put into practice within one year from the second half of 2014.
As the government entity supporting Turkish exporters with credit, guarantee and insurance operations with no profit motive, Eximbank decided to transfer its insurance and SOIK (Pre-shipment Consumer Credit) operations into internet channel which were being practiced manually before. Realizing the projects of Insurance Internet Branch, Online Payment Infrastructure and SOIK Internet Branch with VeriPark expertise and VeriBranch infrastructure one after another in one year from second half of 2014; Eximbank increased both operational productivity and customer satisfaction thanks to this progress.
SUPPORTER OF TURKISH EXPORTERS: EXIMBANK
Developed by regulations structured in 1987 looking over its real world examples, occurred in the banking legislation in time having a binding force for all banks, Eximbank operates with the purpose of developing export, increasing exporters' trade in international trade, providing needed support in their enterprises, and bringing competitive power and assurance into international markets. Turkish Eximbank, the only principal incentive for corporate export in Turkey, supports exporters, export oriented manufacturers, off-shore building contractors and entrepreneurs with short, medium and long term cash and non-cash credit, insurance and guarantee programs. Moving its head office to Istanbul in 2012, Eximbank assembled credit, guarantee and insurance operations under the same roof differently from many other developed countries' state-sponsored export credit institutions; and this enables Eximbank to form completeness with all services offered to exporters. Turkish Eximbank provided totally 31,1 billion dollar support to export sector in 2014 of which 20,1 billion dollar was cash credit and 11 billion dollar was insurance/guarantee facility. This amount corresponded approximately to 19,7% of Turkey's export. On the other hand, they are also aiming to support 20,4% of Turkey's export by increasing it to 35,7 billion dollar with totally 14% rise of which 21,7 billion dollar will be cash credit and 13,7 billion dollar will be insurance/guarantee facility by the end of 2015.
INTERNET BRANCH FOR INSURANCE OPERATIONS
Eximbank brought the products into online use in June 2014 which was previously offered to its insurance customers under the titles of "Policy Application", "Policy Tracking", "Customer Limit Application", "Customer Limit Tracking", "Delivery Application and Monitoring", "Overdue Receivable Application and Tracking" and "Notifications". Firstly used by a test group among selected exporters, internet channel was then opened gradually to all exporters by revising in line with feedbacks.
INCREASE IN ONLINE PAYMENT DEMANDS
Following insurance internet branch opening, customers also started demanding for online payment. Thus, online payment infrastructure was put into service in Jan, 2015 and policyholders started paying their debts online according to the insurance coverage.
SOIK (Pre-shipment Consumer Credit) IS NOW AT SMES' SERVICES
Eximbank has a customer portfolio including 5 thousand exporters which corresponds to 12% of 60 thousand registered exporters in Turkey. Placing great importance to support Smes, Eximbank is contributing to growth of these institutions for outside markets thanks to pre-shipment export credits.
Head of Eximbank Information Technologies Department, Ismail Cicek is emphasizing that they are much closer to Turkish Exporters than ever and they can reach their contributions to larger masses.
Following insurance operations transfer into internet and online payment system establishment, Eximbank prepared SOIK (Pre-shipping Export Credits) internet branch infrastructure together with Veribranch solution and VeriPark team. The titles of "SOIK Credit Application", "Credit Tracking", "Demand Withdrawal", "Utilization Cancellation", "Commitment Closure" "Commitment Term Extension Demand", "Commitment Penalty Demand", "Tracking Commitment", and "View Bank Receipt" were completed within the scope of SOIK Project. It was got into use as an application where banks are intermediary. Head of Eximbank Information Technologies Department, Ismail Cicek says that they will start working for sections in 2016 where banks are not intermediary.
EXIMBANK INTERNET BRANCH WAS DEVELOPED WITH VERIPARK EXPERTISE.
Head of Eximbank Information Technologies Department, Ismail Cicek indicates that they are impressed by working discipline and VeriPark expertise, and they see on each project step that they made a right decision by working with VeriPark team.
INCREASE IN OPERATIONAL PRODUCTIVITY AND CUSTOMER SATISFACTION WITH VERIBRANCH…
Ismail Cicek, Head of Eximbank Information Technologies Department, particularly emphasizes that number of insurance customers increased up above 2 thousand, and he conveys his opinions about putting internet channel into use on insurance side in the second half of 2014 and about changes they have had through this progress: "While we were performing our operations manually, number of our customers was half as much of today. Despite this, we were having trouble in carrying out operations. We had deficiencies especially in some controls. Operations both require so much effort and work load and they were prone to human error. While we put internet channel into use, we had chance of revising our operations again and we gained a serious productivity by closing the gaps in controls. Most importantly, errors and wrong data inputs went away. We prepared a flow to be easily tracked by the customer."
Head of Eximbank Information Technologies Department, Ismail Cicek said "Our internet branch is of prime importance as it raised the quality of our communication with our customers" and adds explaining they will continue their profit oriented investment increasing internet service quality in the upcoming period: "We examine customer feedbacks closely in order to increase and improve our application quality. Our services will have a bigger impact on exporters with the progress we will make in the upcoming period."
Ismail Cicek also states that insurance operation durations have 40% decrease over its annual averages after internet branch and online payment is put into practice, and this progress reached up to 60% in the last quarter of the year. Cicek attracts attention to strong effect of both internet transition and infrastructure improvement works on this progress.
INTERNAL USERS ARE PLEASED WITH INCREASE IN PRODUCTIVITY
Eximbank Recipient Risk Monitoring Manager, Ismail Karadag, touches on the benefits of the service offered online: "Customer feedbacks are very important for us. Because listening to them offers an insight into continuous development of our service. Our customers welcomed our internet services quite warmly. Some of our customers wanted to send their demands via email during manual period. However, they used to have problems to send their demands both via email and postal route. They had losing risk in the postal route. There wasn't any healthy method that would help customers to track operations. There would be errors arising in access process, and this would have negative impacts on customer satisfaction. For this reason, customers are now quite satisfied with online applications and online process steps monitoring. We tried to overcome difficulties encountered in the adaptation process by providing help desk. Customer Relationship Department stepped in this subject. They helped company employees with this action by directing and teaching how to proceed over the phone. Today both our work productivity and customer satisfaction increased at this point." Operation and Reporting Manager, Nezihi Ates expresses "online process monitoring" opportunity is effective with the increase in customer satisfaction and adds: "People cannot break their habits easily. We made a pilot practice with its awareness and we established a help desk. Our phones never stopped ringing a while. And most of our customers started making their applications and payments online after getting used to internet channel in a short while. We are making routine meetings focusing on customer satisfaction. We are gaining valuable information at these meeting regarding system developments. Companies are especially pleased with process monitoring. We are receiving names of people who will have authority to take action and monitor processes. We define user name and passwords to these people. Active user is doing the application and payment processes. For example, Finance Manager, Export Manager and others are also having the authority to monitor the process. Thus, they can easily monitor a process and learn if the application is completed and premiums are paid or not. Transactions are performed more easily and faultlessly compared to methods applied on excel platform. Our customers and users often state they are quite comfortable with this system."
Credit Allocation Manager Şenol Çelik also informs about benefits of SOIK's internet use for their own interior processes besides customer satisfaction. He also says "we achieved a serious labor and time saving in the management of SOIK processes carried by intermediary banks along with internet transition; we also removed the risk of losing papers." Senol Celik also adds "There were four people we appointed for SOIK processes in the past and this team was working quite busy. Although number of processes increased compared to past, and three people are enough in this department and we can benefit from the fourth person with other works. When we put new credit system project into use, I believe that these benefits will increase productivities and cost for saving purposes. Contributions to customer satisfaction are of course very important. Both interior users and customers are quite pleased with this situation. Banks are expressing their satisfaction about internet transition at our visits and also providing their feedbacks which will develop system."