The Banking Regulation and Supervision Company (BDDK) has instructed banks in Turkey to ship account statements of their prospects on cellular apps as a substitute of emails.
The watchdog has restricted banks to ship the statements by way of e-mail as a result of safety issues, Turkish media agency Every day Sabah reported.
As a substitute, BDDK has urged the banks to advertise the usage of cellular banking apps and e-banking web sites for accessing account info.
The banks will direct their prospects to the net channels out there, to allow them to entry their bank or account statements and EFT receipts, the report added.
Nonetheless, prospects who want to obtain their monetary particulars on the e-mail can select to use with their respective banks.
This transfer comes after BDDK introduced a brand new set of rules just lately.
In accordance with these rules, efficient 1 July 2020, banks can’t use Google, Hotmail or every other foreign-sourced e-mail providers to share monetary particulars to their prospects.
The watchdog intends to maintain the delicate monetary info of the Turkish prospects throughout the nation’s borders with these rules.
The order can also be aimed toward bolstering the cybersecurity of banking and monetary establishments. Since cellular banking apps provide two-factor authentication, they’re mentioned to be safer for storing delicate buyer info.
The authentication requires prospects to login with a password together with a single-use code despatched by way of e-mail, name or textual content.
Turkey has considerably adopted the usage of cellular banking providers previously few years.
In accordance with Deloitte’s EMEA Digital Banking Maturity 2018 report, 65% of shoppers use cellular banking apps within the nation.
21% use web banking and solely 14% nonetheless depend on bank branches.