LONDON, UK / ACCESS Newswire / January 22, 2025 / In the rapid evolution of financial technology, few companies have made waves quite like Colendi. This Turkish fintech trailblazer has captured international attention, not only for its audacious ambition but for its ability to deliver results that challenge the status quo. With Türkiye's first full digital banking license, a valuation of $700 million, $100 million raised in total, and more than 18 million active users, Colendi is carving out a place among the world's financial technology elite.
A Banking Revolution in Türkiye
Colendi's crowning achievement thus far has been the approval of ColendiBank, Türkiye's first AI-driven digital universal bank, by the Banking Regulation and Supervision Agency (BDDK) in November 2024. The launch of ColendiBank signals a seismic shift in the banking sector. By combining the best of fintech and AI with the discipline of traditional banking, the bank offers a seamless experience for individuals and small businesses alike.
"Our vision for ColendiBank was to create a truly inclusive financial ecosystem," says Bülent Tekmen, Co-Founder and CEO of Colendi, "By combining AI-powered innovation with the fundamentals of banking, we are addressing gaps overlooked by traditional financial institutions."
Deniz Devrim Cengiz, Co-Founder and CEO of ColendiBank, summarises the transformation these seismic signals are set to bring to banking: "We are ready for an AI-driven, frictionless, and seamless banking experience."
Highlighting that AI is employed not only in customer experience but also in operational processes, regulatory compliance, and decision-making mechanisms, Cengiz adds, "As a digital-first bank, ColendiBank designs its processes from scratch to fit the digital world. This gives us speed, agility, and a distinctive edge in customer experience."
Bridging Finance and Technology
What sets Colendi apart from many other fintechs is its unique identity as a "fintech with a balance sheet." This duality enables the company to function as both a licensed bank and a technology innovator. Unlike startups that rely on third-party banking infrastructure and licensing, Colendi has built an integrated ecosystem combining AI, personalized digital experiences, and traditional banking services.
"This balance sheet-driven model gives us a significant advantage, both in terms of flexibility and profitability" Tekmen explains, "It allows us to operate at the intersection of technology and finance, providing end-to-end solutions that are both scalable and sustainable."
Driving Financial Inclusion
Colendi's innovative financial products are a direct reflection of its mission to foster inclusion. Take their Instant Limit credit product, which uses real-time payment and loyalty data to create credit solutions tailored to individual behaviors. This technology is designed to bring sustainable access to credit for those underserved by conventional financial institutions-a bold step toward closing the global financial inclusion gap.
"Financial inclusion isn't just a buzzword for us-it's our purpose," says Tekmen, "Products like Instant Limit are designed to empower people, especially those who have been excluded from the financial system, with the tools they need to thrive."
A Blueprint for Global Expansion
Beyond its home market, Colendi has set its sights on high-growth regions such as the EMEA and Turkic Republics. The company's approach combines technological innovation with strategic partnerships in sectors ranging from telecommunications to retail and energy. By employing a strategic partnership approach with sector leaders, Colendi leverages a unique distribution model that benefits all stakeholders, a model that is ready to be scaled into global markets.
"Our growth strategy is rooted in collaboration," Tekmen notes, "By forming strategic partnerships across industries, we're not just expanding our footprint; we're building ecosystems that benefit all stakeholders involved."
Colendi's ambitions are further underscored by its preparation for a Series C funding round, with Citibank acting as its financial advisor. The funds are expected to fuel international expansion, improve infrastructure, and bring Colendi closer to its goal of becoming one of the top 10 fintech firms globally.
The Power of AI at Scale
At the core of Colendi's innovation is ColendiAI, the company's proprietary artificial intelligence division featuring its groundbreaking AI engine, ColendiMind. Launched in August 2024, ColendiMind leverages advanced machine learning and large language models (LLMs) to revolutionize financial and banking services. From ColendiBank's sophisticated credit scoring to optimizing operational efficiency across the Group, ColendiAI seamlessly integrates with both internal and external data sources, delivering personalized, secure, and efficient financial tools.
Looking ahead, ColendiAI is developing a network of 'metal-collar' AI banking agents-intelligent virtual assistants designed to work alongside human staff. These agents will enhance service levels by providing reliable, round-the-clock support, ensuring that customers receive consistent and accessible assistance.
"AI is the backbone of everything we do at Colendi," Tekmen emphasizes, "With ColendiMind, we are able to offer precise, inclusive, and innovative financial services, reshaping the future of finance both locally and globally."
A New Era for Financial Services
Colendi's story is one of bold vision paired with execution. By bridging the gap between finance and technology, the company is not just reshaping banking in Türkiye but setting a standard for the global industry.
"Colendi's journey is just beginning," says Tekmen, "Our mission is to redefine financial services for a smarter, more inclusive world. We're not just building a company-we're building a future."
With AI and embedded financial solutions as its backbone, Colendi is creating an inclusive, efficient, and accessible financial ecosystem that transcends traditional boundaries. For those tracking the fintech space, Colendi isn't just a company to watch-it's a company to emulate.
Media contact details:
Email: info@colendi.com
Website: www.colendi.com
LinkedIn: https://www.linkedin.com/company/colendi/posts/?feedView=all
SOURCE: Colendi
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