Taylor Wessing has advised VakifBank International on the implementation of a core banking system.
According to Taylor Wessing, VakifBank International is a subsidiary of VakifBank. VakifBank was founded in Turkey in 1954 and, with its more than 900 branches and subsidiary VakifBank International, is the second largest state-owned Turkish bank.
"The bank opted for a strategic changeover to a CBS, a software that will support the bank's core processes and frequent transactions," commented Taylor Wessing Vienna Partner Andreas Schuetz. "We reviewed the relevant contracts for Austria and Hungary, provided the bank with strategic support, and accompanied the preparations for any negotiations with providers/parties involved."
The Taylor Wessing team included Schuetz, Vienna-based Counsels Carmen Redmann-Wippel and Tugce Yalcin, and Associate Tereza Gruendvaldska.
