Onur Kartal, Chief Commercial Officer at KOBIL, a global technology company focusing on secure digital identity and all-in-one multi-sided platform technologies, shares his profound insights into the evolving landscape of digital finance and fintech within the region. Amidst a backdrop of technological innovation and shifting market dynamics, Turkey’s journey in digital banking presents a unique case study in both its achievements and challenges.
Kartal’s expertise sheds light on the critical need for agility, sustainability, and security in advancing digital finance. He explores the burgeoning potential of local fintech innovations, the transformative power of superapps, the paramount importance of financial identity security, and the essential role of financial literacy in empowering society.
How has digital transformation affected the finance industry in your country?
Turkey, once a forerunner in digital banking within our region, has seen a notable deceleration in its digitalization journey over the past two years. This contrasts with the continued rapid advancement in neighboring countries. This trend suggests an urgent need for a reevaluation of strategies, calling for stakeholders and governments to adopt a more agile approach while firmly maintaining focus on long-term impacts and sustainability. At KOBIL, we closely monitor these shifts, ensuring our digital security solutions not only adapt to immediate market needs but also support the broader, evolving landscape of digital finance. Our role is to be a steady yet dynamic partner in this journey, providing the security backbone that supports both rapid innovation and enduring trust in digital banking.
What are some unique local fintech innovations that you would like to highlight?
The local fintech landscape is brimming with potential, demonstrated by several significant achievements in areas such as streamlined online payments and advanced digital banking services. As our founder, Ismet Koyun, vision the future of payment and financial solutions lies in their integration into broader platform models. This shift is essential to foster rich, interconnected ecosystems, enhancing user experiences and expanding service capabilities. KOBIL is a hub at the center of this transformation, providing the secure infrastructure necessary for these complex, integrated platforms to thrive. Our expertise in digital security and identity bound interactions is a critical component in enabling these platforms to evolve while ensuring the best tailored protection of user data and transactions.
Are there any outstanding or unique initiatives and trends that you are proud of from your country?
In line with global trends highlighted by industry leaders like Gartner, superapps are gaining traction in our region, revolutionizing the delivery and experience of financial services. These comprehensive platforms are transforming the banking landscape, offering users a unified interface for embedded services. KOBIL’s role in this evolution is pivotal – we are the architects of security for these superapps. Our solutions ensure that these platforms are not just convenient and user-friendly but also impenetrably secure, safeguarding every interaction and transaction within these expansive digital ecosystems.
Where do you see the greatest opportunities for collaboration in your region within finance and fintech?
Today’s digital landscape demands robust identity security across all sectors, especially in finance. Whether you are a multinational corporation or an individual user, the security of your digital identity is paramount. KOBIL’s solutions are specifically designed to address this universal need. We offer a range of products that cater to the diverse requirements of our clients, ensuring that every digital identity managed through our systems is protected with the highest level of security. Our approach is to provide comprehensive yet flexible solutions, adaptable to the unique challenges and needs of each client, while maintaining a user-friendly experience.
What is the level of financial literacy in your country in general?
Financial literacy is more than a skill – it’s a crucial component of economic empowerment and sustainability. Our country, like many others, is on a path to improve financial education, especially among the younger generation. This effort is vital to ensure that as our society becomes increasingly digitized, individuals are equipped to make informed financial decisions. KOBIL supports this educational journey by creating secure, intuitive financial tools that can be easily utilized by people of all ages. Our goal is to make financial management accessible and secure for everyone.
The future of banking is inclusive, catering to the specific needs of diverse demographics, including families. We are observing a growing demand for financial products that address the unique needs of family units and small communities. In response, KOBIL is at the forefront of developing innovative, niche solutions in this area. These solutions emphasize ease of use, robust security, and educational components, making them ideal for families looking to enhance their financial management practices.
Conclusion
Reflecting on the insights provided by Onur Kartal, it’s evident that the journey of digital finance is as much about innovation as it is about inclusion, security, and education. The landscape in Turkey, characterized by a pause in its rapid digitalization, calls for a strategic reassessment to continue its path as a digital finance leader. Kartal’s perspective emphasizes the importance of secure, integrated platforms and the role of superapps in redefining financial services delivery. As financial literacy and tailored banking products for families become more crucial, KOBIL’s initiatives are poised to support a more inclusive, secure, and informed digital financial ecosystem.
(Cover photo: Depositphotos)
