İşbank expands its open banking application

Following the decision of the Central Bank of the Republic of Turkey (CBRT), İşbank also launched the service of following the accounts of its individual customers in other banks.

According to the statement made by the bank, in addition to commercial customers of Türkiye İş Bankası, individual customers can also view their accounts in different banks via İşCep and Internet Branch, in line with the open banking regulation.

In line with the CBRT’s open banking regulations, individual and commercial customers with accounts in different banks can monitor their bank accounts through the applications/websites of other banks or licensed payment service providers, and manage their money transfer processes from their accounts.

İşbank launched the example of open banking in Turkey with TekCep in 2019. The bank’s commercial customers can see their accounts in other banks in a single application via TekCep and can quickly follow their banking processes. With the TekPOS feature, which was introduced in 2020, once again a first in commercial banking, it was possible to monitor the POS movements in other banks on a daily basis.

With the new open banking service that İşbank has also made available in personal banking, customers can track their current accounts and overdraft accounts at different banks and manage their money transfer processes via İşCep and İşbank Internet Branch.

“With open banking, the branch has become more competitive and innovative”

İşbank Deputy General Manager Sezgin Lüle, whose views are included in the statement, stated that the financial sector has become more competitive and innovative thanks to open banking applications, and that consumers can access financial services with a more convenient and personalized experience.

Lüle stated that they started the first open banking service in the banking department in Turkey in 2019, within the scope of our vision to provide the newest and the first by anticipating customer needs. Thanks to the CBRT’s open banking regulation, we have been able to offer this service to our individual customers as well. Now, both our commercial and personal customers will be able to track their accounts in different banks from İşCep and the Internet Branch, and have the opportunity to transfer money.” she used her words.