ZiraatBank - Digital Merchant Platform
It's time to change the game in SMEs: ZiraatBank Digital Merchant Platform
Ziraat Bank is one of Turkey's oldest and largest banks with 30 million customers, 1,800 branches and 7,000 ATMs, constantly works to offer innovative products to their clients and upgrade its existing product family with no sign of slowing down. The bank was looking to improve its relations with merchant customers, increase their loyalty and attract new customers by building a special platform that would facilitate merchants’ operations. The goal of this transformation was to digitalize many transactions performed by the 100,000 merchants the bank serves to streamline transactions and increase their productivity.
Ziraat Bank “My Merchant” Platform Built on VeriChannel
Ziraat Bank has been a user of VeriPark’s VeriChannel solution for Internet & Mobile Banking services which runs on the existing bank infrastructure. After evaluating potential solutions, Ziraat Bank decided to build on their existing relationship and continue working with VeriPark. Not only would this make it possible to be up and running quickly, it would also enable them to build on their existing investments to deliver new innovative services.
Since the main goal of the project was to increase the loyalty level of existing clients and onboard new merchants by offering a range of useful services for managing POS systems and placing purchase orders, all information relevant to them is stored in VeriChannel solution used by Ziraat Bank. This situation was made to accelerate deployment, drive adoption and achieve comprehensive integration with the existing infrastructure used by Ziraat Bank. Thanks to this approach, VeriPark was able to complete the project in record-breaking three months.
We knew clearly what we wanted to do - create an innovative platform to provide services to our member businesses over the internet, speed up daily processes within our bank and receive reports and information. We had all the data, but we did not have much time for a solution that would integrate with our existing bank system to deliver the data through a visual platform and offer the features we required. We shared our project with VeriPark, taking into account the VeriPark solutions we used in our bank infrastructure already, said Gökay Darcan, a Senior Project Manager in Ziraat Technology.
Integration, Early Blockage Release and Detailed Reports
Ziraat Bank wanted its clients to be able to access all services using a single account which brought about several technical challenges since the Merchant Platform and other services had some modules that needed to run independently as well as integrated modules. VeriPark delivered on this requirement with their Single Sign-on application that enables merchants to easily access the new platform with a single click after logging into their online bank accounts. This approach drives adoption and improves customer satisfaction, since users do not have to remember and enter multiple passwords.
The Merchant Platform essentially enables merchants of Ziraat Bank to manage their existing POS systems and makes it much easier to place purchase orders for consumables online using the portal and to quickly create a failure record in the event of a failure. However, the project delivers additional features that far exceed these basic requirements.
For example, it is possible to ‘Release Blockage’ early on all credit card transactions performed for merchants via Ziraat Bank Merchant Platform. Therefore, bank’s merchant customers can rapidly approve commission rates required for early collection of their receivables following sale transactions without contacting bank representatives. They can also release the blockage over their receivables early and make sure that payments relating to their sales transactions are transferred to their accounts. Thanks to this platform feature, merchants can greatly increase their revenues and have the chance to manage their cash flows more efficiently and quickly. So far, the adoption and satisfaction among the bank’s customer has been great. On an average day, there are 5,000 logins, 14,000 report views and 1,000 early blockage release requests.
Ziraat Bank Merchant Platform Delivers Advanced Analytical Features
The Merchant Platform also delivers additional information and reports. For example, commercial users can see anonymized turnover figures for the top five companies with the highest revenue in their respective industries, based on their field of activities. This is coupled with information about companies ranking in terms of turnover as it compares to their peers. Users can also access demographic reports and competition analysis to facilitate their planning.
These reports are prepared efficiently to deliver added value to the merchants using the platform. These reports provide merchants with another tool as they navigate the increasingly competitive business world. Analyses and reports delivered through Ziraat Bank Merchant Platform facilitate transparent flow of information among users while protecting the commercial privacy of businesses.
Digitalize many transactions performed by the 100,000 merchants
Early blockage release requests everyday