About
In this project, limit, risk and collateral information subject to intelligence in banks will be shared with banks thanks to the blockchain infrastructure.
Innovation presentation
Blockchain technology, whose popularity has increased rapidly today, has started to be used frequently in the financial sector. Vakif Participation Bank's R&D Center has accumulated knowledge on this technology with various research studies and project ideas have been developed on issues where inadequacy in the current technology has been identified.
One of the most fundamental issues of banking is the collection of loans, and the first condition to ensure that loans are collected without delay is to provide the right loan to the right customer. During the credit evaluation phase, the most critical data that will shed light on the allocation authorities are obtained through intelligence inquiries. Intelligence data is usually obtained from central institutions such as the Risk Center and the credit bureau. However, the data provided by these authorities cannot currently meet all the needs.
In this study, limit, risk and collateral information, which is the subject of intelligence, will be shared with banks thanks to the blockchain infrastructure. A bank adds the intelligence information of a customer to which it has made a loan in detail in the appropriate format, to the blocks in the blockchain network. This data is instantly visible on other networks. If this customer wants to work in another bank, he can access this information by being included in the blockchain network. In this context, every bank that wants to access intelligence information is also expected to be a network that provides data. The sum of the intelligence information added by each bank is made available to all banks involved in the blockchain network. This total data is kept synchronously on each bank's side separately.
Uniqueness of the project
Vakıf Katılım attaches great importance to Digital Transformation with its vision of “Growing with Technology”. In this context, it has set itself the goal of continuously strengthening and renewing its technology infrastructure, increasing digital and analytical maturity, automation in operational processes, and developing innovative products in the field of banking-finance.
The data provided by the credit bureau and risk centers to banks by query is a data set collected from financial institutions and consolidated on a model. Financial institutions can take risks, limits, checks, guarantees, etc. belonging to their customers. It shares its data monthly with the risk center via FTP (File Transfer Protocol) or online. The risk center develops this data on a model and provides the infrastructure that will enable both individuals and financial institutions to make inquiries online. In this way, many data that a bank will need for a customer are provided through the risk center. However, the collateral information in these data is insufficient. The data provided by RM includes the customer's collateral type, amount and the date it was taken into collateral. However, there is no information about what the guarantee is given in return and at what rate. Providing this data paves the way for a more accurate intelligence study for the customer.
By using the blockchain infrastructure in the project, the credit risks of the customer will be determined more clearly, reliably and quickly, and the customer loan allocation process will be accelerated. According to our research, such a project has never been done before in the world or in Turkey.
