Intertech is a Turkey-based core banking system supplier which is part of Denizbank, one of the country’s largest private banks. Denizbank was part of Dexia until it was sold to Sberbank in 2012, and Intertech’s bank ownership has been a determinant of where its business has come from over the last few years, although it has also scored wins from outside its group. The core system sold by Intertech is now known as Inter-face, after a name-change from Inter-next due to copyright reasons. It was originally developed on Microsoft technology for Denizbank from around 2005 to 2007, when Denizbank went live. The process mirrored similar ventures by other large Turkish banks. Finansbank, a private bank which was acquired by National Bank of Greece in 2006, launched its own IT subsidiary, IBTech. Garanti Bank, another of Turkey’s largest banks, made plans to market its in-house developed core system through its own captive IT firm, Garanti Technology, in 2010. The general manager of Garanti Technology, Hüsnü Erel, was also one of the founders of Intertech. Of these initiatives, Intertech has made the most visible progress. Denizbank extended its use of Inter-face to Austria, Bahrain, Cyprus and Germany in 2008 and the first wins outside the group
came in 2009. These were at two banks located in Turkey, investment bank Dilerbank and Eurobank Tekfen (which is now part of Burgan Bank).
