Industry News

Turkish consumers apply for real estate loans via cell phone

Fair Isaac technology does the trick

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Consumers in Turkey can now apply for real estate loans from the country's largest privately owned bank via their cell phones thanks to Fair Isaac technology, the company said today. Akbank, Turkey's largest privately owned bank, is using "CepKredi" (English translation: "Speedy cell credit"), a service that allows consumers to apply via cell phone for mortgages, general purpose credit and auto loans, Fair Isaac said. The service is powered by Fair Isaac's decision engine for account origination, which applies advanced analytics and segmentation decision rules to help Akbank automate and streamline origination decisions and improve customer service, the company said. The lender can preapprove consumer loans within 20 minutes or less of the applicant's call, Fair Isaac said, because Fair Isaac's enterprise decision management technology works with the bank's account origination processes to handle the application. The applicant is notified of Akbank's pre-approval offer via an interac...