Developed Artificial Intelligence for Fighting Dirty Money
Operating in Istanbul Technical University ARI Technocity, Fineksus develops end-to-end solutions for the prevention of dirty money in global and local finance transactions. Ahmet Vefik Dinçer, the General Manager of the Company, stated that they recently added artificial intelligence to the works being conducted in this area and said: “We were established in 2002. In the financial world, from payment transactions to the prevention of dirty money, we provide end-to-end solutions and a customer-focused service concept that makes a difference in the sector. We have a structure that continuously invests in R&D. Our goal is to sell our domestic software to everywhere in the world. In this context, we have signed many studies with Scientific and Technological Research Council of Turkey (TÜBİTAK). But our last project is very important. We have developed and completed a project on the use of artificial intelligence in the pursuit of dirty money. This project has become a study that will make a difference in global financial markets as well as in Turkey. We have developed a very powerful solution for combating money laundering and the financing of terrorism. The fact that ITU ARI Technocity and Scientific and Technological Research Council of Turkey (TÜBİTAK) are behind us has given us a lot of power.”
Converted SWIFT Applications To Local
Fineksus, which continues its way with a hundred percent domestic capital; expanded its business with SWIFT and expanded its operations to 8 new countries in the region as of 2013 and started to manage its operations in the GCC Region from the newly opened Dubai Office in order to provide closer service to its customers in the region. Regarding this issue Dinçer gave the following information: "In 2014 Fineksus, was declared the official "SWIFT Business Partner" of Turkey and MENA (Middle East and North Africa) region. Today, by banks who create more than 95 percent of the SWIFT traffic in Turkey; it is preferred as a business partner for its solution-oriented services, such as its skilled structure, its talented specialists who immediately intervene with the critical and operational problems in the messaging infrastructure of SWIFT, its highly reputable products and its Service Office. We have also made SWIFT applications domestic. In fact, we did not settle for this and we began to export these applications. Our new goal is to become a Global player. In this context, we went to America, and we are working on the Asian market. We have investments in many financial cities, especially in Britain. In five years we will have reached five locations. Because, in every country, certain players have begun to appear. The main objective for Turkish FinTech companies is to increase international cooperation.
Fintech Develops Financial Markets
Stating that background infrastructures will not develop rapidly in international money transfer, Dinçer said: “We think that there will be rapid changes in front ends. In particular, it becomes clear that new players (FinTechs) will enter the money-transfer market from person to person (P2P) and competition will increase. Services will be diversified, new channels and new applications will be added, and the money flow will be tracked at any time.”