The future of banking was discussed at Uludag Economy Summit

In the "Future of Banking" session held on the second day of the Uludag Economic Summit, it was discussed 'what awaits the banking sector after the pandemic'. The "Future of Banking" session was held on the second day of the Uludag Economy Summit, organized by Capital, Economist, and StartUp magazines. Moderated by Capital Magazine Finance Editor Elcin Cirik, the panel was attended by TBB President and Ziraat Bank General Manager Alpaslan Cakar, Citibank Board Member and CEO Emre Karter, Akbank CEO Hakan Binbasgil, Garanti BBVA Board Member and CEO Recep Bastug, and TEB General Manager Umit Leblebici.

CAKAR: DEMOGRAPHIC ALTERATION WILL CHANGE THE TRADE BALANCE

TBB President and Ziraat Bank General Manager Alpaslan Cakar said, "As globally, our country's economy and banking sector are also dependent on external factors. In the coming period, population and demographic alteration will also change the income and trade balance. Developing countries should invest in young people to prepare for the future.

KARTER: IT SHOULD NOT BE FORGOTTEN FUTURE OF THE BANKING WILL EMERGE BY BANKS FROM THE PAST

Citibank Board Member and CEO Emre Karter said, "There are two main trends in the banking industry: Digitalization and Sustainability. Digitalization has entered our lives much more and our habits have changed. Parallel to all these, banking has also changed, but the pandemic has accelerated them. First of all, it should not be forgotten future of the banks will emerge from the banks of the past.

BINBASGIL: EVERYONE WANTS EVERYTHING INSTANTLY, EVERYWHERE, AT THE FASTEST AND LOWEST PRICE

Akbank CEO Hakan Binbasgil said, "Everyone wants everything instantly, from anywhere, at the fastest and lowest price. All companies need to keep up with these trends for success. Banking is one of the sectors most affected by these trends and our sector is constantly trying to renew itself."

BASTUG: WE ARE READY AS AN INDUSTRY FOR THE FUTURE COMPETITION FROM FINTECH

Garanti BBVA Board Member and CEO Recep Bastug said, "There are different fintech companies now and they can touch every aspect of banking. If we cannot show the same flexibility, we will have difficulty in competition. Banking's most important weapon is our current data. If we can use them well, we will be able to get through the process better."

LEBLEBICI: AS A DIGITAL INFRASTRUCTURE, TURKEY IS IN THE 1ST LEAGUE OF BANKING

TEB General Manager Umit Leblebici said, "There is a perception about Turkey and we think it should change. It is said there is an expansion in digital banking abroad, but in fact, it is the opposite. Turkey is already a world leader in this field."