Türkiye is home to a well-developed banking infrastructure that actively supports digital banking, helping to foster the enormous market potential for the sector.
In Türkiye, within the scope of the guidelines published by the Banking Regulation and Supervision Agency (BDDK) the majority of banking processes can be performed digitally without going to a physical branch.
Banks are therefore able to offer branch-free banking services to their customers by verifying the customer’s identity through video calls. This infrastructure provides customers with faster and easier access to banking services, in turn offering a real opportunity for the banks in Türkiye to gain new customers, through a more attractive service proposition. The same regulation that supports branch-free banking also paves the way for neo-banks, a new kind of bank that operates exclusively online.
Thanks to its well established and strong digital infrastructure, the Turkish banking system has continued its growth over the last couple of years, responding quickly to shifting customer needs and international expectations during the pandemic. With its youthful population (aged 15-24) of 13 million and nearly 66 million active digital banking customers as of 2020, Türkiye stands out as a market that is maintaining its long-term growth potential across the digital banking sector.
The IFC offers a platform that promotes collaboration across the financial ecosystem in all areas, including agility, scalability, and customer experience. Unsurprisingly the center will therefore be home to many of the sector’s leading organisation’s largest office facilities and physical bank branches.