Future of Fintech in Turkey

Hack-ing.io 2014
By: Sean Yu / Paraşüt

Transcript

1. Future of Fintech in Turkey
2. What is Paraşüt
3. Our Team
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
5. In the Beginning
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
13. Fintech Financing
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