Aşağıda yayınladığımız yazılar, Prof. Dr. Selim Yazıcı’nın Özyeğin Üniversitesi, Financial Engineering and Risk Management (FERM) Yüksek Lisans Programında vermiş olduğu Financial Technologies dersinde öğrencilerin bitirme ödevi olarak hazırladıkları çalışmalardan oluşmaktadır. Yazılar kendilerinden izin alınarak yayınlanmaktadır.

Disruptive Banking is Coming…

Hazırlayan: Dinçer Yıldırmaz

All over the word, the banking system is in the process of transformation with technological developments. Traditional banking, along with technological developments, will turn into a wreck in which destruction begin. It may be necessary to briefly mention the word “disruptive” before Disruptive Banking. Disruptive is defined as what could lead to devastating, but we will use the word disruptive for a different purpose. I can express disruptive that, little resource and technology have a fundamental change in existing business processes and triggering new business processes. I can also say that the word of disruptive is replacing the new technology or waving the sector.

Every time that technological revolutions take place in our lives, a disruption is taking place and something new is happening. The first effects began in the industrial revolution and later started with the use of mobile phones, the presence of ATMs in our lives and the differentiation of the needs and expectations of the market after the crisis.

Before looking at disruptive banking, it is necessary to look at the disruptive process that paves the way for this process;

– The invention of the computer,

– Explore the Internet

– Developments in the telecommunication sector,

– Mobile phones that enter our lives,

– Widespread use of Cloud system in the sector.

It is possible to talk about the disruptive that brought many more innovations. These developments in the banking sector improve the banking system and bring new needs.

In banking sector, it is possible to see the effects of decreasing the number of branches, increasing automation, making transactions faster and easier with less manpower and managing cost factor effectively. In time, it will be inevitable that bank branches will be closed more and financial technology opportunities will increase. A disruptive process begins with the above-mentioned transformation in financial technologies.

To give an example, the development of existing products, providing customers with the opportunity to provide faster and easier needs, the removal of unnecessary obsolete applications in the process more effective application of the situation is one of the main reasons for the disruptive process is needed.

FinTechs, which are referred to as Financial Technology Companies, have created many disruptive systems including many changes in the payment system developments for those who do not use the banking sector. The advanced techniques such as blockchain technologies, artificial intelligence, machine learning and deep learning are used.

With the developments in financial technologies and the opportunities of digitalization since the startups started to enter our lives, there are serious cost advantages in operational transactions in banks. Thanks to new technologies, it threatens the banking sector and creates new opportunities. Along with technological efficiency, transactions can be made faster, and on the other hand, they can make employees unhappy about decreasing the number of personnel.

Today, by using mobile phones and internet banking, bank transactions such as remittance, EFT, invoice payments, personal credit and credit card transactions, fund management can be made without going to the branch. With the development of digital banking, ease and speed of transactions have been achieved and mutual satisfaction has been created by both the customer and the banking side. Many people do not want to lose time by going to bank branches to send money. This time can spend more time to spend more effectively. On the other hand, banks spend time on their customers for different and special transactions and profitability is lowered from relatively lower transactions. Therefore, it would not be wrong to say that the most important reason for satisfaction is the costs after speed.

The question of what are the biggest disruptive in the banking sector today is the question of where the banking sector will be in the future.

– Real-time payment methods & payments

– Cognitive technologies and the mobile-first experience

– Blockchain

– Big Data

– Open API and Clouds

– Artificial Intelligence and robo-advisory services

– Internet of Things

– All-in-one kiosks

– Social Integration

– Regulation

– Credit and credit scores

– Money Transfer

Let’s look at what some of the above terms mean. Real time payment is offer an instant, 24/7, interbank electronic fund transfer service that can be initiated through one of many channels: smart phones, tablets, digital wallets, and the web. The goals of Cognitive Technology by developing methodological tools with which to describe, analyze, and predict the cognitive impact that existing artifacts and artifacts under design will have on their human users. The internet of things, or IoT, is a system of interrelated computing devices, mechanical and digital machines, objects, animals or people that are provided with unique identifiers (UIDs) and the ability to transfer data over a network without requiring human-to-human or human-to-computer interaction. An open API (often referred to as a public API) is a publicly available application programming interface that provides developers with programmatic access to a proprietary software application or web service. APIs are sets of requirements that govern how one application can communicate and interact with another.

The banking industry is experiencing disruption at an increasing speed. A basic example of a FinTech offering is the mobile banking services that most traditional banks offer. FinTech refers to financial offerings such as PayPal and Starling Bank, Monzo and Revolut in the U.K.

I can say that one of the biggest disruption is the blockchain technology. Behind the use of financial technologies, artificial intelligence, machine learning and deep learning are the most important parts of this work and shape the future of the banking sector. There are a lot more banks working within multiple technology & service providers to integrate blockchain. For example, ALFA Bank from Russia, Yes Bank from India, UOB (United Overseas Bank) from Singapore, LatiPay from New Zealand are a few banks that have collaborated with a US based blockchain company. The Federal Bank from India & Lulu Exchange have partnered with a Bengaluru based fin-tech company. Axis Bank, RAK Bank, & Standard Charter Bank have connected with another blockchain network. Kotak Bank, which enables blockchain based trade finance operation, partnered with Deloitte & JP Morgan Singapore.

These banking innovations give us a glimpse at the future of finance. All of the above developments shed light on shaping the future banking sector with the finance sector.

Developments in FinTech’s disruption have helped customer expectations, funds, ease of access to the sector and speed of technological evolution. The devastating Banking and profitable and positive devastation in the developments in the field of FinTech is the subject of this article. We are not really talking about the negative destruction of the market, but it is possible that some distributors do not meet the expectations and produce negative results. Furthermore, it is not possible for every disruptive innovation to achieve success. In addition, the development of the balance and controls of the regulators that we do not focus on is of critical importance.

There will be many innovations that will make our lives easier and exciting with destructive banking. The increase of these innovations over time is ensured by the developments in Financial Technologies. I think that the destructors that contribute positively to our startup and derivative sector and life, which are part of this process, should be increased and supported over time.

In light of all this, it would not be wrong to say that every disruptive event is the beginning of a new disruptive event.


Andrew W. R. (2014). Banking without banks: Exploring the disruptive effects of converging technologies that will shape the future of banking — Journal of Securities Operations & Custody Volume 7 Number 1

Albrecht E., & Tawfik J., & Andreas K., & Harald H.(2006). The relativity of disruption: e-banking as a sustaining innovation in the banking industry — Journal of Electronic Commerce Research, vol 7, no.2, 2006

Cognitive Dimensions of Notations: Design Tools for Cognitive Technology, Alan.Blackwell@cl.cam.ac.uk














This paper was prepared as a class work for Financial Technology course given by Prof. Selim YAZICI at Ozyegin University, Graduate School of Business, Financial Engineering and Risk Management Program.

İstanbul Üniversitesi, Siyasal Bilgiler Fakültesi, İşletme Bölümü öğretim üyesidir. Ayrıca, Marmara Üniversitesi, Bankacılık ve Sigortacılık Enstitüsü'nde, Sigortacılık Bölümü'nde 2009-2016 yılları arasında misafir öğretim üyesi olarak "E-Sigortacılık" dersini vermiştir. 2019 yılından beri misafir öğretim üyesi olarak Özyeğin Üniversitesi, Financial Engineering and Risk Management (FERM) Yüksek Lisans Programı'nda Financial Technologies dersini vermektedir. Teknolojiye ve teknolojinin yaratacağı fırsatlara inanmış bir akademisyen olarak, 2000'li yılların başında, teknolojideki değişimin finansal kuruluşların üretim, pazarlama, satış, dağıtım ve satış sonrası süreçlerinde yaratacağı etkileri ve e-ticaret olanaklarını değerlendiren araştırmalar yapmış ve sigortacılık sektörüne özel bir envanter oluşturmuştur. Bu çalışmaların sonuçlarını, ortak yazar olarak yer aldığı "Elektronik Sigortacılık" (2002) adlı kitabında yayınlamıştır. Daha sonra, finansal hizmetler dünyasındaki teknolojik değişimi ve müşterilerin dijitalleşmesini gözlemleyerek, özellikle bankacılık ve sigortacılık sektöründe dijital dönüşüme yönelik projeler geliştirmiştir. Teknolojinin finansal hizmetler sektöründe kullanımı ve çevik yapılar olan start-upların bu alandaki girişimcilik faaliyetlerini içeren FinTech ve InsurTech konuları ilgi alanını oluşturmaktadır. Girişimcilik, Finansal Teknolojiler, Dijital Sigortacılık, Proje Yönetimi, İş Sürekliliği Yönetimi, İşletme Yönetimi, Uluslararası İşletmecilik ve Örgütsel Davranış konularında dersler vermektedir. Finansal teknolojiler konusunda girişimcilerin ihtiyaç duyabileceği tüm alanları kapsayan ve ülkemizde ilk olarak FinTech İstanbul tarafından gerçekleştirilen "FinTech 101 Eğitim Programı"nın şekillenmesini sağlamıştır. Öğrenen Organizasyonlar (2001), Elektronik Sigortacılık (2002), E-Öğrenme (2004) ve İş Sürekliliği Yönetimi (2013) başlıklı yayınlanmış dört kitabı bulunmaktadır. TSEV ve TSPB'nin eğitmenlerinden olup bankalar ve sigorta şirketleri için çeşitli konularda eğitim programları düzenlemiştir.