Turkey’s Yap? Kredi Bank has joined hands with Monitise, a mobile money major, to offer Nuvo, a ‘branchless banking’ service with mobile commerce capabilities.
Nuvo enables customers to open accounts and complete all their transactions using mobile and internet banking, thereby eliminating the need to visit a branch.
Nuvo offers competitive interest rates, free account transactions and money transfers, and perks such as Yap? Kredi’s World Gold or Play Card loyalty programmes.
Apart from offering banking convenience, Nuvo provides exclusive shopping benefits to its users, including discounts and reduced delivery costs.
Monitise MEA CEO Fatih ??becer said, "Monitise is thrilled to continue its long-standing partnership with Yap? Kredi bank, a leading innovator in the Mobile Money space in Turkey, with the introduction of Nuvo."
"With nearly half of Turkish internet users now banking via mobile, today’s consumer values a seamless, secure, and enjoyable banking experience. This new service is a fantastic example of how this can be achieved."
Yap? Kredi which serves ten million customers said that Nuvo is currently available on iOS and Android, in both Turkish and English.
The private lender expects that Nuvo will have more than 300,000 customers in its first year, with one million active users within five years.