Corporations may want the same kind of fast, technologically advanced banking solutions as consumers do, but corporate banking also has more demanding thresholds for security and tokenization. One mobile business banking firm is tapping into the power of the QR code to meet those needs.
Reports on Wednesday (Jan. 20) said Yapi Kredi Corporate Internet Banking, based in Turkey, is rolling out a new feature to its service, one that uses the quick response code to ease friction for corporate banking customers when logging into online banking from a mobile phone.
The QR codes can also be scanned to complete a transaction on a mobile wallet and other functions of mobile banking, the company said.
“We added the login with QR code feature, a first in the banking sector, to our renewed corporate Internet banking,” stated Yakup Dogan, assistant general manager for Yapi Kredi, in a statement. “Our customers will be able to log in to our corporate Internet banking more easily and quickly with this new application.”
Reports said the rollout is part of a collaboration with digital data security company Kobil. Together, the companies sought a solution to allow online banking access without the need for a single password or a multi-step login process.
Yapi Kredi said it hopes to offer corporate users of its online banking service the ability to complete more transactions in less time. The rollout of the QR code solution coincides with the company’s overhaul of its website as well, according to reports.
Turkey is in the midst of efforts to combat a rise in shadow banking in the nation, and part of federal officials’ plans to do so is to increase electronic banking and procurement activity, according to government announcements made last year.
We’re always on the lookout for opportunities to partner with innovators and disruptors.
Learn More