future of fintech in turkey
DESCRIPTION
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.TRANSCRIPT
![Page 1: Future of Fintech in Turkey](https://reader033.vdocuments.us/reader033/viewer/2022060200/559939e01a28ab0d178b4856/html5/thumbnails/1.jpg)
Future of Fintech in Turkey
![Page 2: Future of Fintech in Turkey](https://reader033.vdocuments.us/reader033/viewer/2022060200/559939e01a28ab0d178b4856/html5/thumbnails/2.jpg)
What is Paraşüt
![Page 3: Future of Fintech in Turkey](https://reader033.vdocuments.us/reader033/viewer/2022060200/559939e01a28ab0d178b4856/html5/thumbnails/3.jpg)
Our Team
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
Yazılım Tasarım Pazarlama
Sean X Yu
CEO
Strateji ve Yönetim
![Page 4: Future of Fintech in Turkey](https://reader033.vdocuments.us/reader033/viewer/2022060200/559939e01a28ab0d178b4856/html5/thumbnails/4.jpg)
What is Fintech
Fin·Tech noun : an economic industry composed of companies that use
technology to make financial systems more efficient.
Wharton FinTech Club
![Page 5: Future of Fintech in Turkey](https://reader033.vdocuments.us/reader033/viewer/2022060200/559939e01a28ab0d178b4856/html5/thumbnails/5.jpg)
In the Beginning
![Page 6: Future of Fintech in Turkey](https://reader033.vdocuments.us/reader033/viewer/2022060200/559939e01a28ab0d178b4856/html5/thumbnails/6.jpg)
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, …
![Page 7: Future of Fintech in Turkey](https://reader033.vdocuments.us/reader033/viewer/2022060200/559939e01a28ab0d178b4856/html5/thumbnails/7.jpg)
Bank as Money Intermediary
Mortgage
Savings
Shopping
Credit
Insurance
Investment
Deposits
Working Capital
Payroll
Wire Transfers
Invoice Factoring
Capex
![Page 8: Future of Fintech in Turkey](https://reader033.vdocuments.us/reader033/viewer/2022060200/559939e01a28ab0d178b4856/html5/thumbnails/8.jpg)
Areas for Partnering with Startups
Landscaping UK Fintech, E&Y
![Page 9: Future of Fintech in Turkey](https://reader033.vdocuments.us/reader033/viewer/2022060200/559939e01a28ab0d178b4856/html5/thumbnails/9.jpg)
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
![Page 10: Future of Fintech in Turkey](https://reader033.vdocuments.us/reader033/viewer/2022060200/559939e01a28ab0d178b4856/html5/thumbnails/10.jpg)
Fintech Today
![Page 11: Future of Fintech in Turkey](https://reader033.vdocuments.us/reader033/viewer/2022060200/559939e01a28ab0d178b4856/html5/thumbnails/11.jpg)
Each Subsector Is Immense
![Page 12: Future of Fintech in Turkey](https://reader033.vdocuments.us/reader033/viewer/2022060200/559939e01a28ab0d178b4856/html5/thumbnails/12.jpg)
Fintech Touches All Sectors
![Page 13: Future of Fintech in Turkey](https://reader033.vdocuments.us/reader033/viewer/2022060200/559939e01a28ab0d178b4856/html5/thumbnails/13.jpg)
Fintech Financing
![Page 14: Future of Fintech in Turkey](https://reader033.vdocuments.us/reader033/viewer/2022060200/559939e01a28ab0d178b4856/html5/thumbnails/14.jpg)
Notable Companies: Simple
Simpler, smarter, better online banking. Acquired by BBVA for $117mm
![Page 15: Future of Fintech in Turkey](https://reader033.vdocuments.us/reader033/viewer/2022060200/559939e01a28ab0d178b4856/html5/thumbnails/15.jpg)
Notable Companies: Dwolla
Faster, cheaper payments. Partners with credit unions and banks.
![Page 16: Future of Fintech in Turkey](https://reader033.vdocuments.us/reader033/viewer/2022060200/559939e01a28ab0d178b4856/html5/thumbnails/16.jpg)
Notable Companies: Plaid
API allows developers to build banking apps, in hours.
![Page 17: Future of Fintech in Turkey](https://reader033.vdocuments.us/reader033/viewer/2022060200/559939e01a28ab0d178b4856/html5/thumbnails/17.jpg)
Enablers in Turkey
• Robust banking infrastructure
• E-Şirket
• Peculiarities of Turkish regulations and taxation (+/-)
• High internet penetration & growing mobile penetration
![Page 18: Future of Fintech in Turkey](https://reader033.vdocuments.us/reader033/viewer/2022060200/559939e01a28ab0d178b4856/html5/thumbnails/18.jpg)
Turkey Fintech Today
Lending / Credits SME Finance Personal Finance / Consumer Banking
Payments
P2P / Crowdfunding Banking Infrastructure Remittances / Money Transfer
Investments
??
![Page 19: Future of Fintech in Turkey](https://reader033.vdocuments.us/reader033/viewer/2022060200/559939e01a28ab0d178b4856/html5/thumbnails/19.jpg)
Payments are Hot
![Page 20: Future of Fintech in Turkey](https://reader033.vdocuments.us/reader033/viewer/2022060200/559939e01a28ab0d178b4856/html5/thumbnails/20.jpg)
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