Startups And Banking Sector In Turkey
Immediately, on the one hand, while there are traditional banks in Turkey that adright here to laws, provide a wide range of products and services and work with profitability, on the other hand, they are progressing focused on growth, benefiting from synthetic intelligence, big data and Open APIs, making selections in a short while, taking big investments, There are aggressive startups that wouldn't have the pressure of profitability. In this case, banks in Turkey manage to survive, but since technology is unimaginable to resist, the inevitable finish for banks in Turkey is to lose customers.
Such selection and the main target of Turkey on banking sector attracts the intention for foreigners to deposit their funds to Turkish banks. Due to this fact many corporations across the opening a commercial bank account in Turkey
Startups, fintech and pass 190 billion dollars of the total valuation of the new generation banks and the most important bank of Turkey's $ 55 billion valuation to have found the StartUp pointing to a strong position.
The fact that the startups can earn cash regardless of the rate of profit by providing the service offered by the banks as a consequence of certain prices with different earnings fashions shows that the bell bells are ringing for small and medium-sized institutions.
But awareness has not spread over a wide space yet. Large firms similar to Amazon and Facebook haven't only established fintech startups that pivoted different branches, but have turn into a rising risk for banking with hundreds of years of history by constantly buying revolutionary fintech startups.