Tech company Trendyol partners with Baykar, Ant, and ADQ to initiate AI-driven Fintech project within Turkey.
In a strategic move to streamline access to finance for individuals and small businesses, both within and beyond the Trendyol ecosystem, a joint venture has been announced by Trendyol Group, Baykar, ADQ, and Ant International in Turkey. The partnership aims to create an advanced fintech platform offering a comprehensive range of integrated financial services.
The new venture, set to operate on domestic infrastructure, will provide digital payments, retail and SME loans, deposits, investment products, and insurance solutions. Trendyol Group, a leading e-commerce company in Turkey, has emphasised its focus on serving individuals and small businesses, particularly those within its e-commerce ecosystem.
Leveraging world-class AI, e-commerce, and fintech expertise from the partners, the platform will enhance the efficiency of financial transactions. The initiative is expected to benefit both individuals and businesses, improving the daily financial lives of citizens and supporting long-term economic growth.
The partnership brings together global expertise in cybersecurity, artificial intelligence, e-commerce, and financial infrastructure. Michael Evans, President of Alibaba Group, expressed support for the project, calling it a "valuable investment."
Mansour AlMulla, Deputy Group CEO of ADQ, highlighted Turkey's dynamic economy and rapidly evolving digital environment as key drivers of opportunity. Yi Zhou, CFO of Ant International, highlighted Turkey's young, digitally literate population and developed e-commerce sector as key strengths.
Baykar CEO Haluk Bayraktar underlined a commitment to high standards in risk management and security for the fintech platform development. Trendyol President Caglayan Cetin emphasised that the alliance would contribute to Turkey's broader digital transformation and economic development.
The collaboration reflects a shared interest in creating innovative financial solutions that contribute to Turkey's digital transformation goals. Bayraktar noted that the cooperation combines Baykar's AI capabilities with Trendyol's e-commerce experience and Ant's global fintech know-how to establish a fully domestic fintech infrastructure.
The planned platform will be powered by artificial intelligence (AI) and fintech solutions developed in Turkey. The fintech platform is scheduled for rollout in the coming months, pending approval from Turkey's financial regulatory institutions. The partnership is in the early stages and requires approval from Turkish regulatory authorities to proceed.
- The joint venture, comprising Trendyol Group, Baykar, ADQ, and Ant International, will establish a fintech platform in Turkey, offering digital payments, retail loans, SME loans, deposits, investment products, and insurance solutions to individuals and businesses.
- Trendyol Group, a prominent e-commerce company in Turkey, sees this partnership as an opportunity to serve individuals and small businesses, particularly those within its online marketplace.
- With world-class AI, e-commerce, and fintech expertise from the partners, the platform aims to improve the efficiency of financial transactions, benefiting both individuals and businesses while supporting long-term economic growth.
- The partnership's success is attributed to its global expertise in cybersecurity, artificial intelligence, e-commerce, and financial infrastructure, as Michael Evans, President of Alibaba Group, and Mansour AlMulla, Deputy Group CEO of ADQ, have both shown support for the project.
- Baykar CEO Haluk Bayraktar ensures a commitment to high standards in risk management and security for the platform's development, while Trendyol President Caglayan Cetin highlights the alliance's contributions to Turkey's broader digital transformation and economic development. The partnership's planned fintech platform will be powered by AI and fintech solutions developed domestically, awaiting approval from Turkey's financial regulatory institutions for its upcoming rollout.
