Akbank, Turkey's largest privately owned bank, has implemented Fair Isaac's decisioning technology to support a new service that allows customers to apply for mortgages and loans using their mobile phones.
The bank says it introduced a new mobile phone-based service in response to growing application volumes.
The service called CepKredi, allows customers to apply for mortgages, general purpose credit and auto loans using their mobiles and enables the bank to pre-approve loans using interactive voice response technology or SMS text messages.
The vendor says its Enterprise Decision Management (EDM) technology will enable the bank to automate and speed up approval of loan applications made via mobile phones. The EDM system has been integrated into Akbank's account origination processes to enable the bank to pre-approve consumer loans within 20 minutes of the customer's call.
The applicant is notified of the pre-approval offer via an IVR call or SMS text message, which includes interest rate and repayment details.
Akbank says it now receives 40% of personal loan applications via the mobile phone service.
"Just a few months after rolling out CepKredi, this delivery channel is already accounting for 15% of Akbank's total daily credit assessments," adds Zafer Kurtul, Akbank's CEO.