Turkish Firms Sign MoU to Develop Fintech Platform

(MENAFN) On Wednesday, Türkiye’s foremost e-commerce giant, Trendyol Group, joined forces with Baykar, the global leader in unmanned aerial vehicle manufacturing, sovereign investor ADQ, and global digital payments and financial technology leader Ant International.

Together, they signed a memorandum of understanding (MoU) to create a strategic venture dedicated to launching a next-generation fintech platform tailored specifically for the Turkish market.

"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," said a statement from Trendyol.

The MoU signing ceremony was graced by prominent individuals such as Caglayan Cetin, president of 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.

Leveraging the cutting-edge AI, e-commerce, and fintech knowledge of the collaborating partners, the venture aims to streamline and improve the efficiency of financial transactions for both individuals and small businesses across Türkiye.

The platform will serve users both within and outside the Trendyol ecosystem, as noted in the statement.

The project will integrate advanced artificial intelligence and financial technologies developed locally in Türkiye, thereby enhancing the accessibility of financial services for individuals and SMEs throughout the country.

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