A first in Turkey

A first in Turkey

Turkey’s largest bank Isbank and its tech partner Monitise have launched a money transfer service via Apple’s iMessage – a first in the republic.

Using Isbank’s new mobile banking app, IsCep, users are now able to request and send money through iMessage. As Banking Technology reported in January, IsCep also allows “for the first time” banking and stock exchange transactions through one application with real-time data.

Before the first money request or transfer through iMessage, IsCep users are prompted once to define the banking account to be used for transactions. Money transfers can be a maximum of TRY 300 ($81) per transaction.

The Iscep app supports English and is also available for all foreign Isbank customers in Turkey.

UK-based Monitise made inroads into Turkey three years ago with the acquisition of an Istanbul-based mobile money software vendor, Pozitron.

This is Isbank

The bank was established in 1924, a year after the founding of the Republic of Turkey.

Earlier this month, Isbank launched a new P2P money transfer service, called “social account”, available for the “first time” in the country.

Isbank’s European operations span Germany, France, Switzerland, Bulgaria and the Netherlands. It has become the first bank in Germany focused on retail and corporate banking to opt for Avaloq Banking Suite.