The global record growth in financial technology investments continues to whet the appetite of international companies. The support of the banking system, the increase in the financial assets of domestic investors and the digital banking steps expected to be taken at the beginning of 2022 make Turkey the focus of attention of foreign actors. The international fintech company dxFeed, which distributes Borsa İstanbul market data, aims to increase its share in the Turkish market, which it entered 6 years ago.
The development in data processing and information technologies, one of the main tools of the financial sector, increases the value of financial technology (fintech) companies. According to the report prepared by KPMG Turkey, global investments in the fintech sector broke a record with $29.8 billion in the first quarter of 2021. When we look at the local reflections of the increase, Turkey ranks 18th in Europe with a funding of 139 million dollars in 2020, and 3rd when only the Middle East countries are taken into account. The fintech sector in Turkey is growing with a significant momentum due to the strong support of the banking system and the increasing need for speed and security with new technologies. According to the data of the Turkish Capital Markets Association, the financial assets of domestic investors increased by 21 percent in the last year. All these developments make Turkey the center of attention of international companies.
“The fintech market in Turkey is growing very fast”
Oğuzhan Karakoç, CEO of dxFeed Turkey, a financial data provider that has been serving the Turkish market since 2015, said, “We see that the fintech market in Turkey is growing very rapidly and we are planning to expand our service scope even more. We have been distributing Borsa İstanbul market data for a long time. We work with important institutions such as Global Securities, Osmanlı Investment, Işık Menkul. Our goal is to set a standard for market data in the Turkish market and to offer non-local technologies and services with our global knowledge.” Karakoç continued his words as follows: “As a leading data provider, we are a company with worldwide and extensive experience in information exchange. Our technology is used for data volumes that significantly exceed the Turkish market. We are able to guarantee multiple reliability and scalability. With our 6 years of experience in the Turkish market, we have adapted all our services to take local factors into account.”
Detects fraudulent transactions
International fintech company dxFeed has more than 6 million end users and more than 2.5 million instruments (stocks, futures, options, indices, currency, crypto) directly and through B2B2C relationships. Standing out with the widest range of data services offered under a single roof in its field of activity, the company provides users with protocol mechanisms for advanced compression, storage, data extraction and broadcasting. The most prominent feature of dxFeed, which was selected as the “Best Highly Commended Data Provider” at The Fund Intelligence Operations & Services Awards this year, is the quality and speed of the data it provides.