TurkishBank Chairman Hakan Börteçene: We Aim to Bridge Fintech Startups to International Markets
Hakan Börteçene, Chairman of the Board of TurkishBank, emphasized that open banking is often considered under a single category in the market, but in fact, it consists of three sub-categories: borrowing, payments, and savings evaluation. Speaking on Bloomberg HT’s Financial Technologies program, Börteçene highlighted the rapid progress in payments, while noting that borrowing remains the weakest area. He pointed out that in terms of evaluating savings, Turkey is one of the fastest-moving countries, saying, “I believe our infrastructure in this area is far ahead of Europe, especially TEFAS is a very good infrastructure.”
The Market Place Concept Will Be Seen More Frequently in the Future of Banking’
Börteçene mentioned that with the Open Investmentconcept, they have been implementing open banking in the wealth management market for two years now and have been progressing at full speed. He stated, “In this area, the amount of assets we advised on has doubled each year in the last two years. Open Investment is currently the largest entity within our group, involving four banks, and it just turned one year old.” Börteçene emphasized their intent to educate consumers in this area, noting that they aim to create a marketplace where individuals can freely purchase products from any bank at the same price and from a single point without physically going to the bank. He added, “Many institutions in the market are preparing in this direction. I believe this marketplace concept will be seen more frequently in the future of banking.”
‘We Will Be a Bridge for Fintech Startups to Expand Internationally’
Börteçene explained that to achieve their targeted leap, they established T-Gate, with the initial goal of targeting 30-40 fintech startups. He reminded that until now, the successes of Technoparks and Technocities have been well recognized, but for the first time, legislation has been passed to allow smaller-scale technology centers (TEKMER) to be established under business leadership. Börteçene said, “We are working diligently to establish the first specialized TEKMER. I hope we get the necessary permits, but we have been working on it very meticulously for a long time. KOSGEB has been very supportive and encouraging, constantly expanding our vision and contributing significantly. We see great benefits from working closely with them. The members of the TEKMER we will establish under T-Gate will provide the innovation we need. It is exciting that an organization of our size will establish such a center for the first time, which will be connected to London, Nicosia, and have an investment club alongside it.” He mentioned that significant partners like Sistem Global and Supercharger have joined the project. “Sistem Global is a multidisciplinary organization that can add value to the entrepreneurs and investors who will come to T-Gate with tax, engineering, legislation, risk management, financial applications, patents, R&D, and more, working with over 300 experts. Another key partner, Supercharger, will play a vital role in the international leg of T-Gate. They have extensive experience in creating incubation centers and acceleration programs and have been operating for many years in both Hong Kong and London. They have also worked in countries like Singapore, Malaysia, and France, particularly in developing economies, where they are experienced in building ecosystems. They are very familiar with the London fintech and edtech markets, and their graduates have a muchhigher success rate than their peers, including one unicorn.” Börteçene underlined that they have started working closely with Kadir Has University on this project. He noted that they initially aim to target 30- 40 companies, but if they feel their capacity can exceed this, they might add another 20 companies in the second phase. “Our infrastructure is ready for this. We are targeting fintech companies that are ready to expand internationally in this project. Our bank has been operating in the UK for 45 years. We will leverage our network of relationships there. This bridge is very important,” he added.
‘The Technology Sector Will Eventually Integrate with BIST’
Börteçene praised the efforts of angel investors and venture funds in developing Turkey’s entrepreneurial ecosystem but noted that after a certain point, traditional financing methods need to come into play. He stated, “Entrepreneurial firms, whether they want to or not, must have the option of accessing bank loans, bond issuance, and going public.” Speaking on Bloomberg HT’s Financial Technology program, Börteçene emphasized that the total value and number of technology firms on Borsa Istanbul (BIST) is currently less than 1%, compared to over 30% in South Korea. He expressed his belief that the technology sector will eventually integrate with BIST, saying, “This will happen faster than we expect in 2021. We expect 2021 to be a year of IPOs, with 30-40 companies going public.”
TurkishBank UK, a member of the 118-year-old TurkishBank Group, which operates in 3 countries, Turkey, Cyprus and the UK, has been operating in London for 45 years. Providing banking services primarily to the Turkish community in London, TurkishBank UK has 7 branches in London.
SIBOS, hosted by SWIFT in London on September 23-26, is a very important event for financial institutions and startups, showcasing the financial technologies and services of the future. The SIBOS Conference brings together 8000 business leaders, decision-makers and experts from around the world. Attendees include a wide range of financial institutions, infrastructure manufacturers, multinational companies,aand technology partners. SIBOS is also the meeting point for large financial institutions and startups.
We Want to Open 30-40 Fintechs Abroad
TurkishBank Chairman Hakan Börteçene: We Aim to Bridge Fintech Startups to International Markets
Hakan Börteçene, Chairman of the Board of TurkishBank, emphasized that open banking is often considered under a single category in the market, but in fact, it consists of three sub-categories: borrowing, payments, and savings evaluation. Speaking on Bloomberg HT’s Financial Technologies program, Börteçene highlighted the rapid progress in payments, while noting that borrowing remains the weakest area. He pointed out that in terms of evaluating savings, Turkey is one of the fastest-moving countries, saying, “I believe our infrastructure in this area is far ahead of Europe, especially TEFAS is a very good infrastructure.”
The Market Place Concept Will Be Seen More Frequently in the Future of Banking’
Börteçene mentioned that with the Open Investmentconcept, they have been implementing open banking in the wealth management market for two years now and have been progressing at full speed. He stated, “In this area, the amount of assets we advised on has doubled each year in the last two years. Open Investment is currently the largest entity within our group, involving four banks, and it just turned one year old.” Börteçene emphasized their intent to educate consumers in this area, noting that they aim to create a marketplace where individuals can freely purchase products from any bank at the same price and from a single point without physically going to the bank. He added, “Many institutions in the market are preparing in this direction. I believe this marketplace concept will be seen more frequently in the future of banking.”
‘We Will Be a Bridge for Fintech Startups to Expand Internationally’
Börteçene explained that to achieve their targeted leap, they established T-Gate, with the initial goal of targeting 30-40 fintech startups. He reminded that until now, the successes of Technoparks and Technocities have been well recognized, but for the first time, legislation has been passed to allow smaller-scale technology centers (TEKMER) to be established under business leadership. Börteçene said, “We are working diligently to establish the first specialized TEKMER. I hope we get the necessary permits, but we have been working on it very meticulously for a long time. KOSGEB has been very supportive and encouraging, constantly expanding our vision and contributing significantly. We see great benefits from working closely with them. The members of the TEKMER we will establish under T-Gate will provide the innovation we need. It is exciting that an organization of our size will establish such a center for the first time, which will be connected to London, Nicosia, and have an investment club alongside it.” He mentioned that significant partners like Sistem Global and Supercharger have joined the project. “Sistem Global is a multidisciplinary organization that can add value to the entrepreneurs and investors who will come to T-Gate with tax, engineering, legislation, risk management, financial applications, patents, R&D, and more, working with over 300 experts. Another key partner, Supercharger, will play a vital role in the international leg of T-Gate. They have extensive experience in creating incubation centers and acceleration programs and have been operating for many years in both Hong Kong and London. They have also worked in countries like Singapore, Malaysia, and France, particularly in developing economies, where they are experienced in building ecosystems. They are very familiar with the London fintech and edtech markets, and their graduates have a muchhigher success rate than their peers, including one unicorn.” Börteçene underlined that they have started working closely with Kadir Has University on this project. He noted that they initially aim to target 30- 40 companies, but if they feel their capacity can exceed this, they might add another 20 companies in the second phase. “Our infrastructure is ready for this. We are targeting fintech companies that are ready to expand internationally in this project. Our bank has been operating in the UK for 45 years. We will leverage our network of relationships there. This bridge is very important,” he added.
‘The Technology Sector Will Eventually Integrate with BIST’
Börteçene praised the efforts of angel investors and venture funds in developing Turkey’s entrepreneurial ecosystem but noted that after a certain point, traditional financing methods need to come into play. He stated, “Entrepreneurial firms, whether they want to or not, must have the option of accessing bank loans, bond issuance, and going public.” Speaking on Bloomberg HT’s Financial Technology program, Börteçene emphasized that the total value and number of technology firms on Borsa Istanbul (BIST) is currently less than 1%, compared to over 30% in South Korea. He expressed his belief that the technology sector will eventually integrate with BIST, saying, “This will happen faster than we expect in 2021. We expect 2021 to be a year of IPOs, with 30-40 companies going public.”
TurkishBank UK, a member of the 118-year-old TurkishBank Group, which operates in 3 countries, Turkey, Cyprus and the UK, has been operating in London for 45 years. Providing banking services primarily to the Turkish community in London, TurkishBank UK has 7 branches in London.
SIBOS, hosted by SWIFT in London on September 23-26, is a very important event for financial institutions and startups, showcasing the financial technologies and services of the future. The SIBOS Conference brings together 8000 business leaders, decision-makers and experts from around the world. Attendees include a wide range of financial institutions, infrastructure manufacturers, multinational companies,aand technology partners. SIBOS is also the meeting point for large financial institutions and startups.
Source: https://www.bloomberght.com/30-40-fintech-i-yurtdisina-acmak-istiyoruz-2271610
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