According to Avaloq, Isbank’s will operate the Avaloq Banking Suite as its new core banking system in a deployed mode, in line with its group policy.
By migrating to Avaloq, the bank will benefit from a good innovation rate as well as community synergies.
Avaloq Central and Eastern Europe general manager Klaus Rausch said: "Within the Avaloq community, investments in the development of standardised regulatory solutions can be shared.
"Isbank AG is our first customer from the retail segment in Germany, and the seventh customer in Germany overall. This will further increase Avaloq’s footprint in the country, supporting our continued growth in 2015 and beyond."
Isbank CEO Burak Seyrek commented: "The introduction of the Avaloq Banking Suite will contribute significantly to Isbank’s future growth through the increase of efficiency and agility.
"We will improve the data quality in our core banking system while facilitating access to data, even between different countries."
The flexibility of Avaloq Banking Suite will help the bank to adapt to changing requirements in terms of reporting, market conditions or regulations at a faster pace.
The corporate and retail bank Isbank is the European subsidiary of the Turkish bank and industrial corporation Türkiye Is Bankasi and has a broad client base in Germany as well as in France, Switzerland, Bulgaria and the Netherlands.
