Standing out with its innovative products and services and leading participation bank in Turkey, Kuveyt Türk attended Sibos, one of the most prestigious events of the world in banking and FinTech. Kuveyt Türk that has been participating in Sibos uninterruptedly since 2010, which is held every year in a different country and where there are a limited number of Turkish banks, has attended this year’s event held in London between September 23-26, together with its main partner Kuwait Finance House (KFH), its Bahrain Branch Office, Germany-based KT Bank AG, a wholly-owned subsidiary and Architecht Technology, which develops software products.
“We have further strengthened our bank’s perception in the global arena”
Dr. R. Ahmet Albayrak, Executive Vice President in Charge of Treasury and International Banking at Kuveyt Türk briefed about their participation in Sibos. Pointing out that the fair is one of the most prestigious organizations in the banking sector, Mr. Ahmet Albayrak, was quoted as saying "We have been continuing our activities in Turkey successfully for 30 years. We offer quality banking services to the clients in 197 countries in six continents through our correspondent banks. We take care to maintain healthy relationships and establish new relationships with financial institutions abroad for all our international transactions, especially our foreign trade and treasury products. By offering us such an opportunity every year, Sibos further strengthens our Bank's positive perception in the international arena. This year, we participated in the fair very strongly with our main partner KFH and our two subsidiaries KT Bank AG and Architecht Technology. Our Bahrain Branch also played important roles in the fair. We have met 83 entities from 32 countries at the meetings held prior to the fair. During the event, we also had the opportunity to meet many other entities. We have provided quality information flow to financial institutions by representing not only our bank but also our country in Sibos in the best way.”
New products and services introduced to the international banking sector
Kuveyt Türk participated in Sibos this year with its main partner Kuwait Finance House, its subsidiary KT Bank AG in Germany and Architect, its subsidiary in the field of technology. In addition to the meetings and bilateral talks organized by it, the Bank also met with correspondent banks and provided information on various products and services, particularly in the field of foreign trade and treasury. In this context, letters of credit, letters of guarantee used in connected import and export transactions in Turkey and Vostro account services as part o foreign trade in Turkish Lira have been explained in detail.
Kuveyt Türk, which has a serious network of relationship in the Gulf Region thanks to its main partner KFH, carries out a significant portion of such relations through its Bahrain Branch. Kuveyt Türk Bahrain Branch also held important meetings in Sibos with a number of financial institutions, especially Gulf banks.
KT Bank AG, which was established as the first participation bank of continental Europe with 100 percent participation of Kuveyt Türk, introduced its product, EUR Clearing, in Sibos. Architecht, a technology company that exports products and services developed in Kuveyt Türk's R & D centers, had the opportunity to introduce various software products, particularly the BOA Banking Platform.
Ney (reed) performance from Kuveyt Türk’s musicians in Sibos
In addition to the promotion of its products and services, Kuveyt Türk also held a very special event in Sibos. Kuveyt Turk music team performed ney concert at Sibos fairground. Kuveyt Türk team, who mastered five works of names ranging from Yunus Emre to Ömer Faruk Tekbilek, won the great appreciation of the participants from all over the world.