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.
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.
"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."