AfE 2024
All banks invest heavily in their digital products and services, but the return on that investment can vary widely.
One bank that has got it right, offering a successful model for other banks in central and eastern Europe, and beyond, is Turkey’s Akbank.
While a domestic champion, the level of sophistication in Akbank’s products across business lines is such that there are very few banks across the region that can match it.
Indeed, based on the bank’s year-on-year digital customer engagement and growth numbers alone, the firm stands out from its CEE peers.
Its active digital customer base hit 11.2 million last year, up 2.4 million on 2022. More than 60% of its new-to-bank customers in 2023 were acquired via digital onboarding, now its primary acquisition channel. The bank’s mobile login frequency hit a record high of 37 times a month. Its young adult customer base (18 to 26 year olds) grew by over 40% year on year.