Akbank mobile application ‘best in the world’

ISTANBUL

Turkish lender Akbank’s mobile application has been named the “Mobile Application of the Year,” encouraging the sector that has been betting on technological developments to reach more consumers.

Akbank’s Direkt Mobile Application was the winner of its class in the 2014 Global Mobile Awards, it has been announced.

“While putting technology to the service of our customer, as the first Turkish bank to receive this award, we will continue setting the example for our rivals and to shape the direction of the sector with our vision that cares about the customer,” said Orkun Oğuz, the Akbank Deputy CEO responsible for Akbank Direkt Banking.

Akbank has been hoping to increase its 15 percent share in the Internet and mobile banking market and acquire the top spot in the sector by consolidating all alternative banking arms under a new core unit.
The bank’s decision to bring the mobile and Internet banking services, which it calls “Akbank Direkt,” to the forefront, just next to the conventional banking services, fits into a wider, global trend in which the Internet and smart phones have become key to banking.

There are currently 1.5 million Internet banking users in Turkey. Akbank, which invests an average of $100 million in technology every year, currently controls 15 percent of the market, but it is aiming to increase its share to 18 percent. Mobile banking will most likely be the focus of the drive, as the platform grew 10 times quicker than Internet banking, suggesting it could be at the core of banking operations within five years