Company: BELBİM AŞ, Istanbul, Turkey
Company Description: BELBİM Electronic Money and Payment Services Inc. is the founder of the R&D intensive 'Electronic Fare Collection System', which has been in service in the Istanbul public transportation system since 1987. BELBİM transformed into an electronic money institution and by transforming the existing system into an electronic money system.
Nomination Category: Product & Service Categories - Business Technology Solutions
Nomination Sub Category: FinTech Solution
 Nomination Title: BELBİM Company's New and Innovative Services and Processes in İstanbulkart Mobile
- Which will you submit for your nomination in this category, a video of up to five (5) minutes in length about the achievements of the nominated organization since 1 January 2022, OR written answers to the questions for this category? (Choose one):
Written answers to the questions
- If you are submitting a video of up to five (5) minutes in length, provide the URL of the nominated video here, OR attach it to your entry via the "Add Attachments, Videos, or Links to This Entry" link above, through which you may also upload a copy of your video.
- If you are providing written answers for your submission, you must provide an answer to this first question: If this is a brand-new product, state the date on which it was released. If this is a new version of an existing product, state the date on which the update was released (up to 200 words):
Total 7 words used.
The update was released on January 2024.
- If you are providing written answers for your submission, you must provide an answer to this second question: ODescribe the features, functions, and benefits of the nominated product or service (up to 350 words):
Total 330 words used.
With the smart city vision we adopted when Istanbul Metropolitan Municipality Mayor Ekrem İmamoğlu took office in 2019, we set out to offer many projects focused on digital transformation to Istanbulites. Our priority was to move the transportation card Istanbulkart, which is a physical, plastic card, to digital. We launched Istanbulkart Mobile as an application that will meet the financial needs of Istanbulites. The first step of Istanbulkart Mobile's fintech journey began by moving all transportation payments to mobile phones. With Istanbulkart Mobile, we offered Istanbulites an infrastructure where Istanbul transportation can be paid end-to-end with QR. We became the only city in Europe that allows transportation payments to be paid 100% with a QR code!
In March 2022, we took the first step to transform BELBİM from a fintech company to a company offering digital banking services with the new version of Istanbulkart Mobile. We started to provide micro loan services with interest-free, fee-free or low interest options within our application. In order to facilitate the daily life of Istanbulites and improve the quality of life in the city, in 2023, we added two new financial services that make transportation hassle-free, in addition to cash support: automatic top-up order and instant limit features. This year, we started our new 5-year duty with the new decision made by Istanbulites! In March 2024, we built another row of the pyramid in Istanbul's rise to a smart city with the money transfer feature via Istanbulkart Mobile. Istanbulites can now transfer money between their own Istanbulkarts or to the Istanbulkart of any user they wish, free of charge, via Istanbulkart Mobile. With this regulation, which is an important step in the transition to digital banking, an IBAN is defined for everyone who downloads Istanbulkart Mobile. With FAST, you can transfer money between other banks and payment institutions free of charge 24/7. With the remote identity verification method, we define users' identity information in 5 minutes via Istanbulkart Mobile without going to any branch.
- If you are providing written answers for your submission, you must provide an answer to this third question: Outline the market performance, critical reception, and customer satisfaction with the product or service to date. State monetary or unit sales figures to date, if possible, and how they compare to expectations or past performance. Provide links to laudatory product or service reviews. Include some customer testimonials, if applicable (up to 350 words):
Total 250 words used.
Istanbulkart Mobile is an application that brings all the capabilities of Istanbulkart to digital and It is an important building block of our digital transformation journey. Today, it has been downloaded 13 million times and has maintained its place in the top 10 among the most downloaded financial applications in application markets since the day it was launched. We opened the curtains of the second 5-year period with money transfer via Istanbulkart Mobile.
In March 2024, we built another row of the pyramid in Istanbul's rise to a smart city with the money transfer feature via Istanbulkart Mobile. To date, nearly 50 thousand money transfers have been made via İstanbulkart Mobile. Thanks to the technology we have developed, Istanbulites can now transfer money between their own Istanbulkarts or to the Istanbulkart of any user they wish, free of charge, via Istanbulkart Mobile. Money transfer with FAST/KOLAS (easy address identification): With this regulation, which is an important step in the transition to digital banking, an IBAN is defined for everyone who downloads Istanbulkart Mobile. At the same time, with the KOLAS feature, the IBAN number can be transferred to the user's mobile phone, e-mail address or T.R. It is defined by its identification number. 13% of the 144 thousand transactions made are made as easy transfer to address (KOLAS). We are ranked 1st in the industry in sending money with KOLAS. We are ranked 2nd in receiving money with KOLAS. With the feature we implemented in February, 13% of our users identified easy addresses. Since February, an average of 233 thousand users per month have been able to use their Istanbulkart Mobile accounts as a fintech application by switching to an approved account.
- You have the option to answer this final question: Reference any attachments of supporting materials throughout this nomination and how they provide evidence of the claims you have made in this nomination (up to 250 words):
Total 135 words used.
Istanbulkart Mobile plays a key role in transforming our fintech company into a company that offers digital banking services. We are adding new services to our application every day. We will continue to offer digital banking services that will make the lives of Istanbulites 360 degrees easier with our application and take new steps for our development. Our strategy is to move approximately 25 million card users digitally with a mobile application and offer them fintech services! In the near future, we will launch a project to expand to the world with Istanbulkart. With our Istanbulcard with a new scheme, Istanbulkart Plus, payments can be made all over the world, first with virtual cards, domestically and abroad, and then with physical cards. We will also offer the opportunity to shop at POS via Istanbulkart Mobile.
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