Case Studies

Management of New Bank Build in Istanbul

After a troubled start by the client to establish a new bank in Istanbul – the first new banking licence to be granted by the Turkish regulator in thirteen years, RedCompass was invited to recover the systems implementation which was by this time well behind schedule and suffering from significant quality issues.

Part of a wider programme to create a new independent subsidiary of operational and control functions, RedCompass’ remit was to get the systems implementation back on track for inspection by the Turkish regulator to meet the publicly announced opening date.

Turkish banking requirements specify that systems and data must remain in country, creating the added challenge for the client of managing the specifications and delivery of unfamiliar systems and vendors.