Technology storms local banking system

Newsroom 18/11/2013 | 06:00

Fatih Arpas, director of alternative delivery channels & IT at GarantiBank, says the lender is looking to further enhance its internet banking system and alternative payment platforms due to a highly responsive local market.

Ovidiu Posirca

Are Romanians early adopters of alternative banking platforms?

In the past, Romanians were reluctant to use such platforms, but in recent years they have started to be more and more interested in them, as dynamism and mobility are nowadays the key words in everybody’s daily life. People choose solutions that allow them to move fast and meet their needs.

Romania is taking advantage of its high internet connectivity, ranking fifth in the world in terms of internet speed. Also, the public is getting more and more eager to have smart phones – the market is expecting to register sales of approximately 1.5 million smart phones by the end of 2013. These give people non-stop access to their bank accounts and translate into greater comfort for the customers. There is no doubt that technology is taking the Romanian banking area by storm as well.

How do you decide what technologies to implement on the local market?

As technology evolves and the urban lifestyle tries to avoid time-consuming processes, banking transactions and commerce will be carried to another level. Social media usage is still on the rise and banks will soon be learning to connect social profiles with banking profiles. So, we will see more and more new e-commerce sites, and mobile phones and tablets will spread to more households.

We benefit from the full support of our mother bank, Turkiye Garanti Bankasi (TGB), the most profitable and the second largest private bank in Turkey, in terms of assets. We also have a specialized company, Garanti Technology, in Turkey, which has launched some of the most innovative financial products recognized and awarded globally. Some of them have already been made available here in Romania, for all business segments, such as: the first contactless payment system in Romania, the first credit card with chip – Bonus Card; the widest network of smart ATMs in the country – over 260, iLoanU – the first online real-time loan application; and Garanti Online, probably the most secure and advanced internet banking system in Romania. And in October, GarantiBank, in partnership with Seamless, debuted another innovation on the market – SEQR, a simple, fast and safe mobile payment solution.

Are new banking technologies posing additional challenges from the vantage point of data security?

For sure, and this is exactly why we are constantly investing in technology, in order to continue providing our customers with the safety that they are already used to when using our products and services.

Does GarantiBank plan to roll out new banking technologies next year?

Innovation is part of our DNA and we will continue to build on it in the coming years, as a main differentiator in the market, focusing on innovative products, as well as high quality customer service.

In 2014 we are planning some developments in our internet banking service – Garanti Online – introducing new menus, in order to continue offering our users the best online banking experience and remain a top performer in Romania. The list will continue with innovative projects, which will be announced at the right time.

We will continue to stay close to our customers, offering competitive products and services, tailored to their needs.

ovidiu.posirca@business-review.ro

BR Magazine | Latest Issue

Download PDF: Business Review Magazine March (II) 2024 Issue

The March (II) 2024 issue of Business Review Magazine is now available in digital format, featuring the main cover story titled “BAT DBS Romania Hub: A Vibrant New Office For An Employee-Centric
Newsroom | 27/03/2024 | 17:32
Advertisement Advertisement
Close ×

We use cookies for keeping our website reliable and secure, personalising content and ads, providing social media features and to analyse how our website is used.

Accept & continue