Turkish private sector lender Türk Ekonomi Bankas? (TEB), strategic partner of BNP Paribas, has partnered with Monitise to launch a new digital banking service as part of its branchless banking strategy.
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The new mobile branch named CEPTETEB (Turkish for "TEB in your pocket"), will incorporate simplified authentication process, the ability to live-chat with customer service representatives, and a QR wallet with functions including sending money to any mobile phone number, shopping via ‘click to buy’ e-commerce sites and withdrawing cash from TEB ATMs without a debit or credit card.
The new banking experience will also allow users to open a CEPTETEB account and will offers smart search function, powered with a recommendation algorithm to find and perform new and past transactions.
The service, developed by TEB’s long-standing mobile banking partner Monitise, will be available for iPhone and Android smart mobile devices.
TEB assistant general manager of retail and private banking group Gökhan Mendi said: "As a part of the technology revolution, smartphones, tablets and wearables have changed customer behaviour. We need to adapt to these changing customer needs and offer a digital banking service that suits their ultra-connected lifestyles.
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By GlobalData"At TEB, we have given strategic importance to digital banking technologies and improved them day by day. With CEPTETEB, we are aiming to be a pioneer in Turkish digital banking sector."
