Innovation that carries school payments and collections into the future with guaranteed Qorus-Infosys Finacle Banking Innovation Awards 2024

In 2022, VakıfBank launched “Vinov,” a brand created from the abbreviation of “VakıfBank Innovation,” which is a digital, innovative, and flexible payment and collection ecosystem that can be used 24/7 and offers VakıfBank guarantees for future payments. Created by combining banking experience with digital experience, Vinov is an innovative, reliable, and digital product that provides VakıfBank guarantees for future payments and collections as an alternative to methods such as credit cards, overdrafts, DBS, BTS, checks, promissory notes, and letters of guarantee in the market. Our customers can control their cash flow by managing their transactions securely with Vinov. With its technological infrastructure and ability to be used for all types of payments and collections, Vinov offers flexible and fast solutions for different customer needs, appealing to a wide target market, including corporate, commercial, SME, and individual customers.

To expand Vinov's usage network and enable its use in a 360-degree manner, a digital platform called "Vinov İş Yeri" was launched shortly after the product was introduced. This platform is for businesses that want to receive payments with Vinov and create a Vinov collection record under VakıfBank’s guarantee by setting their own conditions with the debtor. Vinov İş Yeri can be used 24/7 from anywhere with internet access. On the collection side, our customers can create collection records individually or in bulk in Excel format as payees through the Vinov İş Yeri Portal and list and report their receivables instantly. Additionally, with the enhanced rich API options we offer, Vinov and Vinov İş Yeri APIs have been made compatible to work with companies' ERP systems. Each process related to Vinov Kampüs, such as Instruction Creation, Instruction Detail Viewing, Instruction Cancellation, Vinov Payment Discount, and Vinov Payment Transfer, has its own separate API, enabling quick and easy integration. Companies can monitor their collection processes without leaving their ERP systems, and the product can be used without dependency on the portal, providing great flexibility and ease of use. In this way, companies are provided with data security, organized workflow, and real-time reporting capabilities. Companies can access the APIs related to Vinov Kampüs through the Vakıfbank API Store (vakifbank.com.tr) link.

The flexible structure of Vinov and its ability to be instantly adapted to the needs of the sector led our bank to evaluate the demands and needs of the education sector. To increase our market share in the education sector, attract high-income customers from white-collar segments, expand the usage network of Vinov limits, and popularize the use of Vinov, we launched the Vinov Kampüs application in January 2024, inspired by the Vinov and Vinov İş Yeri setup.

The Vinov Kampüs project was designed to address existing difficulties and needs in the education sector, such as collection challenges, limited guarantee features in collection methods, the need for secure payment and collection, the time-consuming and costly nature of commonly used paper-based and manual processes, the need to visit bank branches, document submission requirements for limit allocation, limited payment options, and payment plan difficulties.

Vinov Kampüs aims to provide a permanent solution to the issues in existing school collection methods by offering a completely digital, flexible, and guaranteed school collection system that allows private school fees to be paid with a special Vinov limit assigned to the parent. The project aims to meet the speed, guarantee, and digitalization needs of the education sector by securely digitalizing school collection processes, offering a seamless payment and solution experience for both parents and schools, and facilitating payment processes for schools and parents to increase operational efficiency and provide more flexibility in financial management.

Projects and application examples offering digital collection and payment solutions worldwide and in Turkey have helped shape the strategies of our Vinov Kampüs project. Traditional methods such as credit cards, overdrafts, checks, bank transfers, and education loans are commonly used for education payments in the market. However, Vinov Kampüs stands out with its completely digital, easy, fast, and user-friendly product combined with VakıfBank’s guarantee and reliability. With its unique advantages, Vinov Kampüs has gained a competitive position by focusing on private school payments and offering specialized solutions in this area.

The digital transformation trends of today, the challenges faced by educational institutions and parents regarding payment processes, and financial management needs, along with feedback from educational institutions and parents, have influenced the development of our Vinov Kampüs project.

In the process, the Cash Management Marketing Department, Product Development Department, Cash Management Application Development Department, and other stakeholder Application Development Departments, Individual Loans Department, Corporate, Commercial, SME, and Individual Banking Marketing Departments, and Sales Coordination Departments participated in the Vinov Kampüs project.

So far, Vinov Kampüs has yielded significant positive results in terms of user satisfaction, operational efficiency, financial security, growth and expansion, and technological adaptation. Feedback from educational institutions and parents using Vinov Kampüs has been positive. Users indicate that payment processes are easier and faster, the digital platform is user-friendly, and operational efficiency has increased. School administrations report significant improvements in their processes thanks to the ease of integration and the potential to reduce operational costs provided by Vinov Kampüs. The elimination of the need to visit bank branches and the availability of digital payment options have positively affected their time management. Thanks to the guarantee feature provided by Vinov Kampüs, educational institutions have followed a more reliable path in their collection processes, safeguarding their receivables. This has given them more control over their financial management. With the success of the project, the potential for growth is observed with the increasing use of Vinov Kampüs and the preference of new educational institutions for this solution. This increases the project's acceptance and impact in the market. Vinov Kampüs is recognized as an example that adopts technological innovations and accelerates digital transformation in the education sector. As a result, other institutions in the sector are also inclined to evaluate similar technological solutions.

These key results demonstrate the successful implementation of Vinov Kampüs in the education sector and its positive impact on users.