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Year 2019, Volume: 8 Issue: 4, 188 - 197, 30.12.2019

Selim Yazici

Abstract

References

  • Alt, R., Beck, R., Smits, M.T. (2018). FinTech and the Transformation of the Financial Industry. Electronic Markets. 28(3): 235-243. DOI: 10.1007/s12525-018-0310-9
  • Arjunwadkar, P.Y. (2018). FinTech: The Technology Driving Disruption in the Financial Services Industry. Boca Raton: CRC Press.
  • Arner, D.W., Barberis, J., Buckley, R.P. (2015). The Evolution of FinTech: A New Post-Crisis Paradigm?. University of Hong Kong Faculty of Law Research Paper, No. 2015/047. DOI: 10.2139/ssrn.2676553
  • Arner, D.W., Barberis, J., Buckley, R.P. (2017). FinTech, RegTech, and the Reconceptualization of Financial Regulation. Northwestern Journal of International Law & Business. 37(3): 371-413.
  • Arslanian, H., Fischer, F. (2019). The Future of Finance: The Impact of FinTech, AI, and Crypto on Financial Services. Switzerland: Palgrave, MacMillan.
  • Blakstad, S., Allen, R. (2018). FinTech Revolution: Universal Inclusion in the New Financial Ecosystem. Switzerland: Palgrave, MacMillan.
  • Brooks, O. J. (1986). Economic Development Through Entrepreneurship: Incubators and the Incubation Process. Economic Development Review. 4(2): 24-29.
  • CB Insights. (2019). 2019 FinTech Trends to Watch. (Report).
  • Chishti, S., Barberis, J. (Eds.) (2016). The FinTech Book. Chichester: Wiley.
  • Chuen, D.L., Teo, E.G.S. (2015). Emergence of Fintech and the LASIC Principles. The Journal of Financial Perspectives: FinTech. 3(3): 1-17. DOI: 10.2139/ssrn.2668049
  • Deloitte. (2017). A Tale of 44 Cities: Connecting Global FinTech: Interim Hub Review 2017. (Report).
  • Engel, J.S. (2015). Global Clusters of Innovation: Lessons from Silicon Valley. California Management Review. 57(2): 36-65. DOI: 10.1525/cmr.2015.57.2.36
  • Gimpel, H., Rau, D., Röglinger, M. (2018). Understanding FinTech Start-ups – A Taxonomy of Consumer-oriented Service Offerings. Electronic Markets. 28(3): 245-264. DOI: 10.1525/cmr.2015.57.2.36
  • Gupta, P., Tham, T.M. (2019). FinTech: The New DNA of Financial Services. Boston: Walter de Gruyter.
  • Jamil, F., Ismail, K., & Mahmood, N. (2015). A Review of Commercialization Tools: University Incubators and Technology Parks. International Journal of Economics and Financial Issues. 5(Special Issue): 223-228.
  • Micklin, M., Poston, D.L. (Eds.) (1998). Continuities in Sociological Human Ecology. New York: Springer.
  • Nicols, J.P. (2016). The Fintech Grief Cycle for Bankers. Retrieved from jpnichols.com: http://jpnicols.com/2016/07/12/fintech-grief-cycle-bankers/
  • Nicoletti, B. (2017). The Future of FinTech: Integrating Finance and Technology in Financial Services. Switzerland: Palgrave, MacMillan.
  • Schueffel, P. (2016). Taming the Beast: A Scientific Definition of FinTech. Journal of Innovation Management. 4(4): 32-54.
  • Sironi, P. (2016). FinTech Innovation: From Robo-Advisors to Goal Based Investing and Gamification. West Sussex: Wiley.
  • Skinner, C. (2016). ValueWeb: How FinTech Firms are Using Mobile and Blockchain Technologies to Create the Internet of Value. Singapore: Marshall Cavendish Business.
  • Startups.Watch (2019). Turkish FinTech Ecosystem Map. Online: https://startups.watch/
  • Thompson, B.S. (2017). Can Financial Technology Innovate Benefit Distribution in Payments for Ecosystem Services and REDD+?. Ecological Economics. 139: 150-157. DOI: 10.1016/j.ecolecon.2017.04.008
  • Wilson, J.D. (2017). Creating Strategic Value through Financial Technology. New Jersey: Wiley

THE ANALYSIS OF FINTECH ECOSYSTEM IN TURKEY

Year 2019, Volume: 8 Issue: 4, 188 - 197, 30.12.2019

Selim Yazici

Abstract

Purpose – The purpose of this study is to analyze the dynamics of creating a wealthy FinTech Ecosystem. The state of the Turkish FinTech Ecosystem will be used as a case to determine the components of a healthy FinTech Ecosystem.
Methodology – This paper is designed on a self-reflection methodology. The author is the co-founder of FinTech Istanbul Platform, which is acting as a FinTech Hub to gather all the building blocks of the Ecosystem in Turkey since 2016. The reflections are based on the experience of the author gained both from Turkey and international hubs.
Findings – The main components of a FinTech Ecosystem consist of 8 elements: New technologies and tools that enable innovations; telecom and technology companies that create infrastructure for distribution; startups that create innovative business models; government and regulators that define the rules of the game; financial institutions that cooperate with startups; customers and users who benefit from innovations; investors, incubation centers and accelerators that enable both financial aid and space for innovators.
Conclusion – To create a wealthy FinTech Ecosystem, all players and stakeholders must work together and try to create synergy in order to sustain competitive advantage.

Keywords

FinTech financial technologies ecosystem Turkey ecosystem evaluation

References

  • Alt, R., Beck, R., Smits, M.T. (2018). FinTech and the Transformation of the Financial Industry. Electronic Markets. 28(3): 235-243. DOI: 10.1007/s12525-018-0310-9
  • Arjunwadkar, P.Y. (2018). FinTech: The Technology Driving Disruption in the Financial Services Industry. Boca Raton: CRC Press.
  • Arner, D.W., Barberis, J., Buckley, R.P. (2015). The Evolution of FinTech: A New Post-Crisis Paradigm?. University of Hong Kong Faculty of Law Research Paper, No. 2015/047. DOI: 10.2139/ssrn.2676553
  • Arner, D.W., Barberis, J., Buckley, R.P. (2017). FinTech, RegTech, and the Reconceptualization of Financial Regulation. Northwestern Journal of International Law & Business. 37(3): 371-413.
  • Arslanian, H., Fischer, F. (2019). The Future of Finance: The Impact of FinTech, AI, and Crypto on Financial Services. Switzerland: Palgrave, MacMillan.
  • Blakstad, S., Allen, R. (2018). FinTech Revolution: Universal Inclusion in the New Financial Ecosystem. Switzerland: Palgrave, MacMillan.
  • Brooks, O. J. (1986). Economic Development Through Entrepreneurship: Incubators and the Incubation Process. Economic Development Review. 4(2): 24-29.
  • CB Insights. (2019). 2019 FinTech Trends to Watch. (Report).
  • Chishti, S., Barberis, J. (Eds.) (2016). The FinTech Book. Chichester: Wiley.
  • Chuen, D.L., Teo, E.G.S. (2015). Emergence of Fintech and the LASIC Principles. The Journal of Financial Perspectives: FinTech. 3(3): 1-17. DOI: 10.2139/ssrn.2668049
  • Deloitte. (2017). A Tale of 44 Cities: Connecting Global FinTech: Interim Hub Review 2017. (Report).
  • Engel, J.S. (2015). Global Clusters of Innovation: Lessons from Silicon Valley. California Management Review. 57(2): 36-65. DOI: 10.1525/cmr.2015.57.2.36
  • Gimpel, H., Rau, D., Röglinger, M. (2018). Understanding FinTech Start-ups – A Taxonomy of Consumer-oriented Service Offerings. Electronic Markets. 28(3): 245-264. DOI: 10.1525/cmr.2015.57.2.36
  • Gupta, P., Tham, T.M. (2019). FinTech: The New DNA of Financial Services. Boston: Walter de Gruyter.
  • Jamil, F., Ismail, K., & Mahmood, N. (2015). A Review of Commercialization Tools: University Incubators and Technology Parks. International Journal of Economics and Financial Issues. 5(Special Issue): 223-228.
  • Micklin, M., Poston, D.L. (Eds.) (1998). Continuities in Sociological Human Ecology. New York: Springer.
  • Nicols, J.P. (2016). The Fintech Grief Cycle for Bankers. Retrieved from jpnichols.com: http://jpnicols.com/2016/07/12/fintech-grief-cycle-bankers/
  • Nicoletti, B. (2017). The Future of FinTech: Integrating Finance and Technology in Financial Services. Switzerland: Palgrave, MacMillan.
  • Schueffel, P. (2016). Taming the Beast: A Scientific Definition of FinTech. Journal of Innovation Management. 4(4): 32-54.
  • Sironi, P. (2016). FinTech Innovation: From Robo-Advisors to Goal Based Investing and Gamification. West Sussex: Wiley.
  • Skinner, C. (2016). ValueWeb: How FinTech Firms are Using Mobile and Blockchain Technologies to Create the Internet of Value. Singapore: Marshall Cavendish Business.
  • Startups.Watch (2019). Turkish FinTech Ecosystem Map. Online: https://startups.watch/
  • Thompson, B.S. (2017). Can Financial Technology Innovate Benefit Distribution in Payments for Ecosystem Services and REDD+?. Ecological Economics. 139: 150-157. DOI: 10.1016/j.ecolecon.2017.04.008
  • Wilson, J.D. (2017). Creating Strategic Value through Financial Technology. New Jersey: Wiley
There are 24 citations in total.

Details

Primary Language English
Subjects Finance, Business Administration
Journal Section Articles
Authors

Selim Yazici 0000-0001-7953-2496

Publication Date December 30, 2019
Published in Issue Year 2019 Volume: 8 Issue: 4

Cite

APA Yazici, S. (2019). THE ANALYSIS OF FINTECH ECOSYSTEM IN TURKEY. Journal of Business Economics and Finance, 8(4), 188-197.

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