Turkish banks are known across Europe for their advances in digital banking. This is often attributed to a relative lack of legacy IT infrastructure, but it’s also due to early investments in digital banking, as well as factors such as a younger retail base in the home market.
This year, Isbank stood out and is central and eastern Europe’s best digital bank. Isbank’s app, IsCep, allows customers to categorize expenses in a way that gives them exceptionally rich insights into their spending habits. Customers can set a maximum spending limit on their credit card, apply it to a category of their choice and they are informed when they come close to these limits or exceed them. They receive weekly reports of their spending, including an analysis of changes.
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Other new features on IsCep include the ability for customers to gain access to their accounts through ID scanning and facial recognition.