The Innovators 2015 - Transactions Services, is Global Finance's annual listing of key innovations in treasury and transaction services.
Akbank for e-Invoice Platform
Category of Innovation | Product/Process
Due to recent regulatory restrictions, banks in Turkey must check and collect original invoices from suppliers before processing an invoice discount transaction.
Akbank, given Ministry of Finance Revenue Administration approval as an “integrator bank”, launched its Akbank e-Invoice platform, which is embedded into Akbank Direkt Online Banking, to allow clients to generate, send, receive and archive electronic invoices.
Suppliers can select invoices submitted by buyers and initiate a discount request without physically submitting an original invoice.