Future of Fintech in Turkey
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In this presentation, we take a look at the Fintech landscape in Turkey in comparison with the global market. We discover that there are a lot of opportunities in Turkey for Fintech startups to develop, but it is not without roadblocks. Turkish banks will play a central role in removing roadblocks and nurturing this ecosystem. A lively Fintech ecosystem will create sustained innovation vital for the growth of Turkish banks.
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Future of Fintech in Turkey
- 1. Future of Fintech in Turkey
- 3. Our Team Yazılım Tasarım Pazarlama Andaç Türkmen CTO Barış Gümüştaş YAZILIMCI Oytun E. Yücel YAZILIMCI Tuğçem Yalçın YAZILIMCI Emre Kutlu YAZILIMCI Nergis Sungur PAZARLAMA DİREKTÖRÜ Sena Yallagöz PAZARLAMA UZMANI Fahri Özkaramanlı TASARIMCI L. Daniel Swakman TASARIMCI Strateji ve Yönetim Sean X Yu CEO
- 4. What is Fintech Fin·Tech noun : an economic industry composed of companies that use technology to make financial systems more efficient. Wharton FinTech Club
- 6. History of Money Method Technology Enabler In the beginning: Barter Speech 9000-6000 BC: Cattle Animal husbandry & agriculture 1000 BC: Metal & coins Bronze age 500 BC: Modern coinage Iron age, metallurgy 800 AD: Paper currency (China) Printing 1950s: Credit cards Digital technology 1980s-90s: Online (electronic) banking Internet Today? Mobile, Cloud, Encryption, Internet of Things, …
- 7. Bank as Money Intermediary Mortgage Savings Shopping Credit Insurance Investment Deposits Working Capital Payroll Wire Transfers Invoice Factoring Capex
- 8. Areas for Partnering with Startups Landscaping UK Fintech, E&Y
- 9. Enablers • Haphazard systems/regulations giving way to systematic systems/regulations • Existing infrastructure allows/requires even more innovations • New technologies allows cheaper delivery of solutions & hardware (esp. to the underserved) • Pressure on finance industry to reduce costs, abide regulations, & innovate • Consumers increasingly demand better experience
- 10. Fintech Today
- 11. Each Subsector Is Immense
- 12. Fintech Touches All Sectors
- 14. Notable Companies: Simple Simpler, smarter, better online banking. Acquired by BBVA for $117mm
- 15. Notable Companies: Dwolla Faster, cheaper payments. Partners with credit unions and banks.
- 16. Notable Companies: Plaid API allows developers to build banking apps, in hours.
- 17. Enablers in Turkey • Robust banking infrastructure • E-Şirket • Peculiarities of Turkish regulations and taxation (+/-) • High internet penetration & growing mobile penetration
- 18. Turkey Fintech Today Lending / Credits SME Finance Personal Finance / Consumer Banking Payments P2P / Crowdfunding Banking Infrastructure Remittances / Money Transfer Investments ? ?
- 19. Payments are Hot
- 20. Limitations • Banks traditionally do not outsource / partner • Turkish regulations are tough • Capital needs beyond capabilities of Turkish startups • Takes sector expertise to spot opportunities But where there are big, challenging, overlooked problems, there lies huge opportunities
Editor's Notes
- E&Y Landscaping UK Fintech