Yapi Kredi Bank, Turkey’s fourth-largest private bank, has launched Nuvo, a branchless banking and mobile commerce service powered by mobile money specialist Monitise.
Under the partnership, the bank’s customers will be offered Nuvo, which allows them to open accounts and complete transactions via mobile and internet banking, removing the need to ever visit a branch.
Monitise, formerly Pozitron, has been working with Yap? Kredi since 2010, developing its core banking app for eight platforms. Yap? Kredi, whose main shareholders include UniCredit Group, maintains a leading position in value-generating services and products leveraging innovative banking technologies.
Nuvo is currently available on iOS and Android, in both Turkish and English. Yap? Kredi estimates that Nuvo will have over 300,000 customers in its first year, with one million active users within five years.
Commenting on the collaboration, Fatih ??becer, chief executive (CEO) of Monitise MEA, 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.”
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