ForInvest CTO Abidin Sunar, ForInvest Marketing and Growth Director Çağlar Sak, Minted Connect Co-Founder & COO Engin Tüm and Merchants Investment, Investment Products attended the panel titled ‘Investment Wallet: Strengthened by Innovation, Rising through Collaboration’ held at ForInvest InvestTech Summit 2024. and Strategies Group Director Ülgen Köse attended.
Answering the questions at the panel, ForInvest Marketing and Growth Director Çağlar Sak stated that ForInvest is Turkey’s first investment application and that they positioned the investment wallet within this application some time ago. Noting that they obtained important findings from the research they conducted jointly with FutureBright, the results of which will be shared with the public very soon, Sak said, “We see that people who invest invest in an average of 4 different instruments at the same time. ‘What advantages does the ForInvest Investment Wallet offer in this sense?’ When we look at it; We set out with the vision of placing multiple investment instruments such as gold, silver and stocks in our wallets. “We attach great importance to offering an extremely modern, user-friendly and simple interface, and we plan to take the experience here to even higher levels with the new version.” he said.
Stating that another advantage offered by the Investment Wallet is fast and flexible liquidity management, Çağlar Sak said: “There are two separate accounts in the investment wallet, the cash account and the investment account. You can make transactions by sending a TL balance in Wallet, and you can also buy and sell physical gold and silver with a credit card. Thus, we enable transfer of money between different investment accounts and cash accounts in a very fluid manner. Again, we enable people to quickly invest 24/7 in instruments that are bought and sold regardless of market hours. To give an example; An investor who has a gold certificate at Borsa Istanbul can quickly convert it into physical gold or silver. Afterwards, for example, they may receive funds very quickly. We aimed to offer our investors a very fast and effective transaction platform with our innovative technology infrastructure and our business partners. “Our cold users can now carry out their transactions quickly and safely.”
“We will enrich the content and expand the range”
Caglar Sak; “According to our research with FutureBright, investors at all levels expect to access multiple instruments from a single application and to have this application presented with an easy and understandable interface. They also demand trust and transparency, expecting us to be just a click or a call away. We have planned a product very parallel to these insights. In the coming period, we will continue to enrich the content in terms of instruments and further expand the range. Foreign stocks, foreign exchange and funds will also be included on the platform and we will create a platform for smooth transition between all assets. We also give a lot of thought to user experience and are very sensitive about it. Because everyone, regardless of their level of financial investment literacy, demands a very simple application and a simple interface. “We will continue to develop the Investment Wallet in this direction.”
Stating that it is extremely important for personalization and artificial intelligence to come to the Investment Wallet, Çağlar Sak stated that they define this as ‘the smartening of the wallet’. Sak continued as follows: “In the coming period, algorithms that will use productive artificial intelligence and machine learning will be included in the platform and will share artificial intelligence-supported, personalized, customized analyzes according to everyone’s own watch list, investment, portfolio and trends and can guide them. Additionally, according to another research output; People expect us to guide and assist their journey. In this sense, we actually have a product in our current application that includes smarter notifications, warnings and pinpoint market-oriented news. We will also ensure that this speaks to the Investment Wallet. We will make improvements in the background to offer personalized training content. Finally, today at our summit we are talking about ecosystem and cooperation. Therefore, we want to develop our current collaborations and see more business partners and more instruments in our wallet.”
“We moved the physical to the digital and provided a new expansion”
Minted Connect Founder & COO Engin Tüm also reminded that they made their first collaboration with ForInvest last year in Turkey, where they started their operations after England; He noted that they have developed a hybrid model that brings together the innovative and the traditionalist and brings the physical to the digital. Explaining that they have created a platform where even the smallest savings can be delivered to the address and liquidity can be provided 24/7, Tüm stated that they are happy to be the first Investment Wallet to do this. Noting that they have actually provided a new expansion to the Investment Wallet with ForInvest’s user base, Engin Tüm continued as follows: “With the regulation on the digital assets side, we think there will be a lot of development on the Digital Real World Assets (RWAs) side. There will also be developments on precious metals and all other commodities. With ForInvest, we will soon add commodities such as digital gold, silver, platinum and palladium, as well as agricultural commodities, in addition to physical gold and silver. We will be presenting a model that does not exist. “In addition, with various machine learning and artificial intelligence, we will move to a structure that will provide better technologies and experience and provide recommendations.”
“There will be 5.4 billion digital wallet users in 2028”
Merchants Investment, Investment Products and Strategies Group Director Ülgen Köse said that with the increase in needs and the removal of digital borders, the digital wallet concept is starting to move towards the investment wallet concept. Stating that the digital wallet scenario, which started in Asia Pacific 10-15 years ago, has now spread all over the world and there will be 5.4 billion digital wallet users in 2028, Köse continued: “When we look at the digital wallet use in Turkey, we see 3 parameters. E-commerce with cash or credit card usage, financial account usage and ownership rate. In places where the cash rate is higher and the number of e-commerce and financial accounts is relatively low, digital wallets replace cash. In geographies such as Türkiye, where the number of financial accounts and e-commerce is high, the place where the digital wallet winks is not the place of cash, but the place of credit cards. Thus, we are coming to the point where daily financial needs begin to be met, not only with ease of payment, but also with increasing daily needs. This is actually where we and ForInvest stand right now.”
Noting that there is a significant growth in investment account ownership in Turkey, Köse said, “The locomotive of this growth actually comes from young investors. It grows twice as fast as the other side. At the point where we see that these investors are flexible, know what they want and can act very quickly, investment wallets should continue their way as investment wallets that can meet all kinds of needs of investors. “In the coming period, we will move forward with the motto ‘every investor is special’ in the field of finance, especially with the introduction of artificial intelligence, rather than private banking, individual banking, individual segment, private banking segment.” he said.
Source: www.dunya.com
