Türkiye’s main e-commerce platform, Trendyol Group, drone large Baykar, Abu Dhabi’s sovereign fund ADQ and Ant International have agreed to discover a possible joint fintech enterprise providing digital monetary providers in Türkiye, the businesses stated on Wednesday.
The 4 events signed a memorandum of understanding (MoU) to kind a platform that would offer providers together with digital funds, loans, deposits, investments and insurance coverage. The launch can be topic to regulatory approvals.
“Following approval from the relevant regulatory authorities, this strategic partnership will enable the development of a platform that provides a comprehensive range of integrated financial services, including digital payments, retail and SME (small and medium-sized enterprise) loans, deposits, investment products, and insurance,” an announcement from Trendyol stated.
The signing ceremony was attended by Çağlayan Çetin, President of the Trendyol Group; Erdem Inan, CEO of Trendyol Group; Haluk Bayraktar, CEO of Baykar; Michael Evans, President of Alibaba Group; Mansour AlMulla, Deputy Group CEO of ADQ; and Yi Zhou, CFO of Ant International.
Powered by the world-class AI, e-commerce and fintech experience of the companions, the brand new enterprise goals to boost the effectivity of monetary transactions for people and small companies throughout Türkiye, each inside and past the Trendyol ecosystem, in response to the assertion.
The firms stated the platform would goal people and small companies, with a selected deal with Trendyol’s community of sellers.
“The project aims to combine Trendyol’s e-commerce infrastructure, Baykar’s AI and cybersecurity tools, and Ant’s experience in financial technology,” an announcement stated.
Bayraktar, finest recognized for its top-class drones, stated the initiative would depend on home infrastructure and purpose for top safety requirements.
The platform is deliberate to be launched within the coming months following the approval of official establishments.
Digital transformation, availability
“We believe this unique alliance will accelerate Türkiye’s digital transformation and set an exemplary model for technology-driven financial solutions,” Çetin stated.
“Our ambitions are simple: We want to make financial services more accessible initially to our 250,000 SMEs to support their e-commerce and e-export potential with our strong data-analysis capabilities and to continue contributing sustainably and significantly to our country’s economic growth,” he added.
Bayraktar acknowledged that Baykar grew to become a stakeholder on this cooperation to supply added worth to the sector of monetary applied sciences by combining their world-class synthetic intelligence and cybersecurity experience with Trendyol’s e-commerce expertise and Ant’s world data in fintech.
“Through this partnership, we are combining Baykar’s AI solutions and robust infrastructure with Trendyol’s extensive user base and fintech experience. With a focus on high standards in risk management and security, we will build a fully domestic fintech infrastructure,” Bayraktar stated.
Evans stated that this strategic cooperation, which is a testomony to their confidence in Türkiye, will deliver a precious funding and an modern monetary know-how platform to Türkiye.
“We believe that smart, accessible digital financial services offered to individual and corporate customers in Türkiye will not only improve daily life, but also contribute significantly to the sustainable growth of Türkiye’s economy and the development of its financial ecosystem,” he added.
AlMulla emphasised that Türkiye’s dynamic financial system and rising digital surroundings proceed to supply important alternatives for all sectors.
“This proposed collaboration brings together strong partners with complementary capabilities, reflecting shared interest in advancing innovative financial solutions that support the country’s broader digital transformation,” he stated.
Yi talked about that Türkiye holds a precious place in world digital ecosystems with its younger and digitally oriented inhabitants, in addition to its well-developed e-commerce sector.
“We are excited to work with like-minded partners and develop inclusive digital financial solutions for this vibrant digital economy with our cutting-edge technologies, including AI and blockchain,” he stated.
Source: www.dailysabah.com