FINTECH OR TECHFIN?

Fintech, as we all know, is an area where financial services are presented with a better user experience using cutting-edge technology.

...

On the other hand, techfin is used in the sense that a company can use technology to provide brand new financial services. The difference between the two concepts can be explained by example: it is a typical fintech idea for small tradesmen with limited access to POS devices and no access at all to turn their mobile phones into POS devices to collect money. We can explain TechFin by setting up payment companies for mobile operators to provide various services such as mobile payment, prepaid card and Bill Payment With these companies. It can also be considered as an example of techfin, where banks improve their mobile applications and provide different services through these applications. 

What is Techfin, what is not?

To explain the Fintech-techfin difference prominently, it is necessary to open up a bit more whether TechFin is the most: it may seem reasonable to assume that TechFin is simply an extension of fintech, but developments in this area are more complex. On the contrary, it is possible to treat TechFin as a completely new Sunday type. In the field of technology, these structures, which focus on e-commerce environments, are connected to a large number of customers, both consumers and businesses. Too often techfins collate marketing and finance roles based on the data at hand to improve customer experiences.

TechFin example: Financell and Paycell

We can look at Financell and Paycell as examples of techfin with the most up-to-date data we can give from our country. Founded in order to provide flexible payment solutions to meet customers ' smart device needs, Financell has reached 4.3 million ongoing loan contracts and 4.2 billion TL loan portfolio by serving in 3 thousand Turkcell stores. So the 72 percent smart device rate targeted for the end of 2018 was reached a year ago. Paycell, Turkcell's other brand in the techfin area, has reached over 2 thousand member businesses and over 5 million customers. The Paycell app has been downloaded 405 thousand times. In addition to fast and easy payment service with Paycell, secure payment system, bill payment, fuel payment without getting out of the vehicle, Turkcell TL loading and money transfer services were also successfully introduced.


Source