Standing out with its environmental sustainability efforts, Kuveyt Türk's 'Paperless Branch Banking' program won the 'Innovative Customer Interaction and Experience' award at the PSM Awards 2021, organized by the well-established magazine of the payment world, Payment Systems Magazine. PowerFactor Saas Transformation at Architecht, a 100% subsidiary of Kuveyt Türk, was awarded in the same category.
The PSM Awards, which have been held since 2018 in order to support innovative products and services aimed at the development of the finance and technology sector, and to promote the sharing of business models by highlighting innovative projects, was held in Istanbul yesterday.
Turkey's leading participation finance institution, Kuveyt Türk was deemed worthy of the 'Innovative Customer Interaction and Experience' award for its 'Paperless Branch Banking' program. Technology company Architecht, a 100 percent subsidiary of Kuveyt Türk, won the award in the 'Innovative Customer Interaction and Experience' category with the 'PowerFactor Saas Transformation' project, a multi-factor authentication (MFA) solution that provides simple and secure authentication for mobile applications. The award given to Kuveyt Türk was presented to Dr. Selman Ortaköy, Strategy and Innovation Group Manager, and to Ökkeş Emin Balçiçek, Assistant General Manager of Architecht.
Acting with the understanding of "We grow with our values", Kuveyt Türk aims to contribute to environmental sustainability by reducing the use of paper in financial processes as part of its Paperless Branch Banking program. As part of the program, which has achieved 16 million mobile approvals and 1 million digital signatures in the last eighteen months, 86 tons of paper has been saved. The Paperless Branch Banking program covers projects such as mobile document validation, digital signature on tablet and adding documents from digital platforms.
“We will accelerate our paperless banking activities”
Attending the award ceremony, Kuveyt Türk Strategy and Innovation Group Manager Selman Ortaköy said, “We receive approvals from digital channels for many transactions we carry out in branches, by making improvements to the extent permitted by legal regulations, with the studies we have carried out as part of the Paperless Branch Banking program and in this way, we reduce paper usage. With this program, we both accelerate the experience we offer to our customers and benefit the environment. Thanks to the applications we developed as part of the Paperless Branch Banking program, we saved 86 tons of paper. In the coming period, we will increase our sustainability-oriented works and accelerate our paperless banking activities to reduce the amount of waste.”
Focusing on the issue of environmental sustainability, Kuveyt Türk realized the "Global Sustainable Tier 2 Subordinated Sukuk Issuance" for the first time this year in Turkey and in the world, in line with the principles of participation finance. Prioritizing financing projects that produce environmentally friendly renewable energy, Kuveyt Türk also undertakes many afforestation projects. Acting with the approach of “Our paper savings turn into trees”, Kuveyt Türk plants trees instead of saplings in nature, not only with its approach to creating green spaces, but also thinking about the benefit of living creatures. Kuveyt Türk contributes to the rapid greening of the environment by bringing 7-8 year old trees together with the soil instead of 1-2 year old saplings.