Şişecam Group sets up a global digital barrier against fraud in payments

July 6, 2020 Company News0

Şişecam Group, a global player in glass and chemicals production, continues to break new ground in addition to its main fields of operation. Being the first company in Turkey to carry out a foreign trade transaction through blockchain technology, Şişecam has added yet another initiative in working towards its goal of "End-to-end Digital Treasury Management". Şişecam became the first company in Turkey to establish and operate a “Digital Fraud Detection and Control System” in relation to payments. "As Şişecam Group, we regard the concept of digitalization as an integrated approach that covers the entire value chain, ranging from supply chain to customer experience. We are also successful in being a pioneer with our competences outside of our main fields of operation, such as Treasury Management. We have introduced model practices such as foreign trade transactions through blockchain technology and the Digital Fraud Detection and Control System in scope of our digital roadmap. In line with our goal of End-to- end Digital Treasury Management, we will soon launch the Global Supplier Financing System, another first, in order to support our suppliers, who are a vital part of our ecosystem", Prof. Ahmet Kırman, Şişecam Group Vice Chairman and CEO, said.

30.06.2020 – Şişecam Group, a global player in glass and chemicals production, continues to break new ground in addition to its main fields of operation. Being the first company in Turkey to carry out a foreign trade transaction through blockchain technology, Şişecam has added yet another initiative in working towards its goal of "End-to-end Digital Treasury Management". Şişecam became the first company in Turkey to establish and operate a “Digital Fraud Detection and Control System” for payments made through banks. Şişecam manages its banking transactions via “Kyriba”, one of the most effective software solutions in its field, by means of SWIFT (Society for Worldwide Interbank Financial Telecommunication), a global money transfer and financial communication system. The company became the first in Turkey to transfer a bank payment order with a high level of security and without the need for any manual processes, subsequent to online fraud audit and blacklist company scans. Thanks to the Digital Fraud Detection and Control System Şişecam commissioned based on the most widespread fraud scenarios across the world, the company aims to prevent increasing fraud cases in relation to payments made by corporate companies. In the scope of the digital payment approval system, any payments that are reviewed in the framework of fundamental rules such as "payment approval limits per person", “sensitive changes in payment information", "new bank accounts with first incoming/outgoing payments", and "payments made to countries on sanction lists" are automatically stopped in the event that any breach is detected. “We are also successful in being a pioneer with our competences outside of our main fields of operation, such as Treasury Management." Stating that the company regards the concept of digitalization as an integrated approach that covers the entire value chain, ranging from supply chain to customer experience, Prof. Ahmet Kırman, Şişecam Group Vice Chairman and CEO, pointed out that the route to success for companies depends on outlining digitalization roadmaps that will help innovate their business models through technology. He continued, “At Şişecam, we conduct production activities in 14 countries across four continents, and offer products to customers in more than 150 countries. Rather than adopting a narrow approach of merely equipping the production line with digital competences, we approach the concept of digitalization as a 360-degree integrated notion that covers the entire value chain, ranging from supply chain to customer experience. One of our priorities is to disseminate all our digital transformation projects to the regions in which we operate, in an integrated and end-to-end manner. In times when quick and accurate decisions have become crucial, we are engaging in practices that enhance our efficiency and strengthen our competence towards taking decisions based on data. We are also successful in being a pioneer with our competences outside of our main fields of operation, such as Treasury Management. In the scope of our digital roadmap, we have introduced model practices such as foreign trade transactions through blockchain technology and Digital Fraud Detection and Control System”. Expressing that the company approaches digital transformation as an ongoing journey, Kırman added, “In line with our goal of End-to-end Digital Treasury Management, we will soon launch the Global Supplier Financing System, another first, in order to support our suppliers, who are a vital part of our ecosystem. We are about to complete the Turkish phase of our endeavors. Through our system, suppliers across the globe will be able to access any financing opportunities linked to their sales to Şişecam Group by means of a single global platform. Thus, by uniting suppliers all around the world under a single platform, we will also break new ground in Turkey in this field”.

About Şişecam Group

One of the most established enterprises in Turkey, Şişecam Group is a global actor in business fields including all main areas of glass industry, i.e. flat glass, glassware, glass packaging and glass fiber, as well as soda and chromium chemicals. Today Şişecam, the world’s leading supplier of chromium compounds and the 8 th largest soda ash producer in the world, is the 3 rd largest glassware, the 5 th largest glass packaging and flat glass manufacturer globally.

The Group, which has 42 production facilities in total, operates in Turkey, Germany, Italy, Bulgaria, Romania, Slovakia, Hungary, Bosnia-Herzegovina, the Russian Federation, Georgia, Ukraine, Egypt, India and the USA. With its 85 years of experience, 22,000 employees, production in 14 countries, and sales in 150 countries, Şişecam is a group at international scale and continues on its journey to become one of top three global producers in its all-main business fields.

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