Forty-eight banks, represented by The Banks’ Association of Turkey (TBB), have upgraded their financial messaging infrastructure using Logica’s messaging system. The Logica platform has been successfully rolled out across 10 international and 38 Turkish banks in just two months.
The migration to the new Logica financial messaging platform enables the banks to increase straight-through processing (STP) rates by automating validation and allowing them to develop their own message validation rules. This increases the reliability of the network, as fewer messages are rejected while optimised testing improves the quality and time to market of new financial instruments. The need for manual intervention is also reduced resulting in lower costs for the banks.
The Turkish banks have been Logica clients since 1992 and decided to modernise their messaging infrastructure as part of a broader project to upgrade their hardware platform. Logica’s close partnership with Turkey’s banking community ensured a smooth migration.
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