Qorus Banking Innovation Awards 2023

VARS – VakifBank Risk Solution

25/09/2023 Banking Innovation


Our bank used an external application to calculate expected credit losses for future potential risks. However, the external application could not provide effective solutions tailored to our bank's needs. Leveraging our bank's robust technological infrastructure and human resources, we developed and implemented our own calculation application called "VakıfBank Risk Solution (VARS). The VARS application, which has been developed and put into use by the IT teams of our bank with the innovative approach, technological development and result-oriented concepts included in the goals of our bank, allows the fast, reliable and most accurate calculation of provisions for financial instruments.

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