Telenor last week announced the opening of its first wholly-owned financial institution, Telenor Banka in Serbia, providing customers with mobile and online banking services. The digitization of cash payments and the convenience of online and mobile banking are expected to stimulate financial and economic growth in Serbia, where some 80 percent of transactions are currently performed in cash.
Via an agreement with MasterCard, consumers in Serbia will be able to access the bank's own and other ATMs for money withdrawals and deposits. Telenor Banka customers will be able to open their account at Telenor service shops across Serbia and all transactions can be handled via an app on mobile phone, tablet or PC. According to Kjell-Morten Johnsen, EVP and Head of Region Europe, the group is evaluating the establishment of financial services in other Telenor markets in Europe. Read more in Telenor´s own pressrelease here.