Earthport signs Turkish bank

Aktif Bank has chosen Earthport to provide international payments transaction services, helping its corporate customers trade internationally. The collaboration also enables retail customers of Aktif Bank’s Universal Payment Transfer (UPT) service to make more cost effective cross-border payments.

Aktif Bank is expected to go live with Earthport’s international payments service in the coming months. The largest privately owned investment bank in Turkey offers retail, investment and regional banking services. Since 2012 it has been Earthport’s banking partner, providing local bank payments clearing in Turkey. Now, Earthport’s expertise has been selected by Aktif Bank to increase international payments processing automation, supporting the bank’s growth plans through enhanced products that offer cross-border payments in local currencies.

Through Earthport’s service, fees and foreign exchange (FX) rates are known upfront and payment timescales are predictable. These features will help Aktif Bank operate efficiently and support its customers’ needs for cost-effective international trade.

CEO of Aktif Bank, Dr. Önder Halisdemir, said: “Earthport’s ability to provide international payment clearing services locally to many markets around the globe, together with sophisticated validation services, predictable settlement dates and transaction reporting was an attractive proposition. It gives us scope to build services we believe our customers will find compelling.”

Hank Uberoi, Chief Executive Officer of Earthport plc, commented: “Aktif Bank is a solutions-focused bank and the market leader in the fast developing Turkish market. As part of our expanding global client base, we are delighted to partner with them as our first client in Turkey. We look forward to supporting their customers’ needs for predictable, cost-effective international trade payments and person-to-person remittances.”

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