ISTANBUL, TURKEY, Feb 25, 2021 - (ACN Newswire) - Insha Ventures, a subsidiary of Albaraka Turk, is by many considered Turkey's first fintech venture builder. Now it is joining forces with Ozan Electronic Money Turkey, which offers next generation financial services to individuals and businesses. The strategic open banking cooperation integrates Albaraka API Platform infrastructure into Ozan SuperApp, allowing Ozan SuperApp users to perform a variety of services such as 24/7 money transfer, purchase of commodities such as gold, foreign exchange transactions and bill payment, just to name a few.
The Pioneer of Banking as a Service in Turkey
Meliksah Utku, the General Manager of Albaraka Turk, commented on the cooperation between Ozan Electronic Money Turkey and Insha Ventures:
"Albaraka Turk continues to be the pioneer of open banking and Banking-as-a-Service (BaaS) in Turkey thanks to the Albaraka API platform that started with 'Let's build together the digital products of the future!' motto. I believe that the cooperation between Insha Ventures and Ozan Electronic Money Turkey will contribute a lot to the ecosystem of financial technologies and I find that very exciting."
Omer Suner, the CEO of Ozan Electronic Money Turkey, said:
"With Ozan SuperApp, we aim to offer our users in-house developed financial services that are run on the rails of our industry-leading business partners. Following our Visa membership that we announced last week, our strategic partnership with Insha Ventures aligns with our vision of growth through long-term partnerships."
A Bridge to The Development of the Fintech Ecosystem
Yakup Sezer, the General Manager of Insha Ventures, emphasized that Insha Ventures served as an important bridge to the development of the fintech ecosystem in Turkey, and added:
"Insha Ventures supports super applications by offering them APIs-based services such as payment accounts, investment products, bill payments, and money transfer. Our comprehensive cooperation with Ozan SuperApp is a very important step to make contributions to the financial services industry in Turkey. Thanks to this cooperation, our Albaraka Open Banking Platform will provide Ozan SuperApp a great range of integrated financial services, representing the latest technology within open banking the world."
Dr. Ozan Ozerk, founder of Ozan SuperApp, highlights the impressive level of Turkish financial technologies of today, by commenting on the incredible journey of Turkey's banking technology sector:
"Since early 2000 Turkish banking industry has been joining forces with telecoms, ISPs, technology companies and other key players leapfrogging into the future. Private and government initiatives have pushed competition to the highest level, bringing Turkish financial technologies to become a global leader. Ozan SuperApp aims to benefit from this ecosystem as its launches globally."
About Ozan Electronic Money Turkey
Founded by Dr. Ozan Ozerk, Ozan Electronic Money Turkey is a new generation financial technology initiative, established to bring individual users together with SMEs on financial services.
Ozan Electronic Money Turkey, which obtained electronic money license from the Banking Regulation And Supervision Agency (BRSA) in accordance with law no. 6493, has been serving under the supervision and surveillance of the Central Bank of Turkey (CBRT) since January 2020.
Ozan SuperApp services include physical and virtual debit card services, multi currency e-money accounts, domestic and international money transfer, QR code payment, local and international bill payment and purchasing game code safely and instantly. In addition to these consumer facing B2C services, Ozan SuperApp also provides SMEs B2B financial services such as payment accounts, FX services, Virtual POS and Mobile POS products.
CEO, Ozan Electronic Money Turkey
Dr. Ozan Ozerk, Founder of Ozan Electronic Money Turkey
Ozan Electronic Money Turkey
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