Garanti BBVA has announced the establishment of Garanti BBVA Technology, marking a significant step forward in digital banking within Türkiye. With an investment of over $5 billion in the last 25 years, the bank has consistently led the way in technological advancements within the industry.

The unveiling of Garanti BBVA Technology hailed as the largest tech centre in the Turkish banking sector, underscores the bank’s commitment to innovation and technological evolution. The initiative aims to provide a dedicated space for technology management, recognizing the pivotal role of technology in driving the bank’s progress.

At the recent event held at the Technology Campus, attended by key stakeholders and reporters, Garanti BBVA CEO, Recep Baştuğ, emphasized the vital role of technology in the bank’s growth strategy. He highlighted the bank’s agility, innovative culture, and robust infrastructure as driving forces behind its transformative journey. Baştuğ reiterated the bank’s commitment to investing in technology to deliver seamless, personalized experiences for customers.

Regarding Garanti BBVA’s technology vision and banking strategy, the CEO pointed to the key role played by technology in the bank’s growth, with technological developments calling for a transformation in the way business is done. “At Garanti BBVA, we are leading this transformation thanks to our agility, innovative working culture and strong technological infrastructure,” he added. In that sense, Bastug reminded us that the bank continues to invest heavily in technology, so “we can offer our customers a seamless and highly personalized experience. All of our subsidiaries stand to benefit from this new technology and operations centre and can pass on the benefits to their customers.”

Meanwhile, İlker Kuruöz reflected on how technology can affect banking services and how this process unfolds at Garanti BBVA: “The fintech ecosystem has been growing rapidly not only in Türkiye but worldwide and our new Garanti BBVA Technology is a fine example of this,” he said. BBVA’s Turkish unit unveiled Garanti Technology back in 1998, anticipating that technology would be key to the future of the banking industry and this ecosystem has been the driving force behind the transformation of all subsidiaries, especially Garanti BBVA. “Garanti BBVA Technology plays a crucial role within the sector by harnessing technology to develop new business models and enabling our bank to grow,” he added.

Relentless technological progress and digital transformation have been a dominant force within the banking sector and changing customer expectations are hugely important, as innovations such as mobile banking apps, online banking platforms, and digital payment systems have radically changed the banking experience among customers, Kuruöz shared with reporters. “We are constantly renewing and improving our IT processes in response to changing customer needs and making huge investments in infrastructure. Ultimately, we always use technology for the benefit of our customers, intending to create value and make life that bit easier for them,” he asserted.

Garanti BBVA Technology General Manager Fatih Bektaşoğlu explained that this new unit —the ‘tech factory’ of Garanti BBVA and all its subsidiaries— is committed to designing the very future of banking with its immense engineering staff of 2,400 people. Furthermore, he noted that 41 percent of tech employees (with an average age of 34) are women and “this makes us very proud. Without question, our greatest asset at Garanti BBVA Technology is our human team,” he said.

The bank also acts as an ‘Academy Company’ within the financial sector, as it aims to train technology leaders and skilled engineers while honing the skills of all employees through ongoing talent and development initiatives. Regarding customers, Bektaşoğlu stressed that they are at the center of Garanti BBVA’s business. One solid example of that excellence in customer experience is the customer experience design team created over a decade ago. “Thanks to our strategy, our Garanti BBVA Mobile and BonusFlaş apps have achieved the highest customer satisfaction scores,” he noted.

As for future initiatives in the technological arena, the executive underlined that in the last 18 months or so, Generative Artificial Intelligence (GenAI), and especially ChatGPT, has taken the world by storm. “GenAI adds intelligence and efficiency to everything it touches while allowing us to personalize all sorts of products and services. It is also an excellent opportunity for us to become more adept at software development by relying on co-pilot technology,” he concluded.