Turkey debate: Digital revolution opens new horizons for Turkish financial innovators

Turkey’s economy has been slow to go digital but increasing smartphone penetration is offering unparalleled growth opportunities for banks, mobile operators, e-commerce platforms and a host of new generation players. Striking a balance between competition and collaboration will be key as aspiring innovators face up to the challenges posed by big data, regulation and security.


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Executive summary

• Consumers well disposed to new technology

• Big east/west divide in financial infrastructure

• E-commerce is small but growing

• Greater use of data is increasing sales opportunities

• Older generation starting to participate

• Mobile users now outnumber online at Akbank

Euromoney How important is direct banking as a source of growth and profitability for banks in Turkey?

Orkun Oğuz (OO), executive VP, direct banking, Akbank

OO, Akbank In the early days, the main purpose of online banking, and digital in general, was generating cost efficiencies by moving transactions to digital channels and serving customer needs outside of branches.

Turkey debate: Digital revolution opens new horizons for Turkish financial innovators

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Turkey debate: Digital revolution opens new horizons for Turkish financial innovators

Thanks for your interest in Euromoney!To unlock this article:

Rebuilding banks from the inside out in the digital age

Eastward bound: Why Gulf banks are tapping Asia’s capital markets

The flat-pricing revolution for inclusive SME finance in Asia

Culture and code: rewiring corporate banking for the digital age

Thanks for your interest in Euromoney!
To unlock this article: