Future of Fintech in Turkey
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Transcript of Future of Fintech in Turkey
Future of Fintech in Turkey
What is Paraşüt
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
What is Fintech
Fin·Tech noun : an economic industry composed of companies that use
technology to make financial systems more efficient.
Wharton FinTech Club
In the Beginning
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, …
Bank as Money Intermediary
Mortgage
Savings
Shopping
Credit
Insurance
Investment
Deposits
Working Capital
Payroll
Wire Transfers
Invoice Factoring
Capex
Areas for Partnering with Startups
Landscaping UK Fintech, E&Y
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
Fintech Today
Each Subsector Is Immense
Fintech Touches All Sectors
Fintech Financing
Notable Companies: Simple
Simpler, smarter, better online banking. Acquired by BBVA for $117mm
Notable Companies: Dwolla
Faster, cheaper payments. Partners with credit unions and banks.
Notable Companies: Plaid
API allows developers to build banking apps, in hours.
Enablers in Turkey
• Robust banking infrastructure
• E-Şirket
• Peculiarities of Turkish regulations and taxation (+/-)
• High internet penetration & growing mobile penetration
Turkey Fintech Today
Lending / Credits SME Finance Personal Finance / Consumer Banking
Payments
P2P / Crowdfunding Banking Infrastructure Remittances / Money Transfer
Investments
??
Payments are Hot
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