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Turkey’s TEB calls for fintech start-ups

By Antony Peyton for Banking Technology

TEB (Türk Ekonomi Bankası) in Turkey has launched a fintech programme and wants the nation’s entrepreneurs and start-ups to get in touch.

Why? TEB says: “Because the day will arrive when a technology giant will come from Turkey too.”

TEB will provide start-ups with its infrastructure, experience, financial support for their first project, and “even their first customer”.

As part of its ambitions it is inviting start-ups to join the TEB FinTech Future Four Programmes – which is run in partnership with France-based BNP Paribas. (In March 2005, TEB signed a joint venture agreement with the bank. The two parties have been collaborating for many years and BNP Paribas part owns TEB.)

There are four categories open to applicants:

  • Customer first – Know Your Customer (KYC) and data security;
  • Digital consulting services – robo-advisory and virtual customer relationship management;
  • Big data – real-time marketing and new payment / merchant technologies;
  • Artificial intelligence (AI) – loyalty / gamification.

TEB’s timeline:

  • 30 September 2016 – Google Hangouts meeting – “project team answers your questions”.
  • 20 October 2016 – Last day on which submissions may be made through
  • 4 November 2016 – Three finalists will be selected from each of the four project categories and feedback will be provided.
  • 18 November 2016 – The twelve finalists will meet with and make their presentations to the selection committee.
  • 2 December 2016 – One finalist team will be selected in each of the four categories. Each team will sign an agreement and will be paid seed capital.
  • 2 December 2016 – 2 March 2017 – Product development and project acceleration stage.
  • 2 March 2017 – Demo/alpha product assessment.
  • 16 March 2017 – Finalisation of the bank’s purchase and investors’ buy-in decisions and signature of contracts followed by corporate incubation graduation ceremony.

First appeared at Banking Technology

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