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    5G and banking
    (PressAcademia, 2021-12-31) Teker, Suat; Teker, Dilek; Orman, Irmak
    Purpose- Technological developments in mobile telecommunications have evolved immensely after the transition from analog technologies that were widely used in 1980s to digital technologies connecting to globe with wireless cellular technologies. This study intends to review telecommunication technologies starting 1970s (1G technology) through 2020s (5G technology) and analyze the expected effects of 5G technology on the future of banking sector. In addition, it is envisioned how 5G technology will shape the future of the banking industry. Methodology- The study is conducted by having a comparative review of digital technology developments in the last 50 yearsThis study examines the effects of developments in communication technologies on the banking sector and banking services. The research design of this study is the relationship between the advancements in telecommunication technologies and the future of banking sector. The following section cover the comparison of 1G-2G-3G-4G-5G Technologies. Findings- 5G banking featuring video communication, data protection and digital wallets will create a permanent shift for banking customers and their habits. Globally, bank customers are adopting to digital apps as their primary touchpoint for their banks and this transformation will change the structure of bank branches as well as financial services industry. As a result of the analysis, it has been observed that an important innovation and structural transformation period has been entered in the banking sector with the use of 3G and 4G compared to the year before 2000, which we define as traditional banking era. Conclusion- With the wide use of 5G technology after year 2022, the banking sector is expected to enter a new and disruptive restructuring and service innovation. 5G is expected to carry the banking industry to another level where automation and machine-to-machine communication act as a game changer.
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    Digital payment systems: a future outlook
    (PressAcademia, 2022-07-30) Teker, Suat; Teker, Dilek; Orman, Irmak
    Purpose- This study examines the development of digital payment systems with the evolution of communication technologies, financial institutions and fintech companies. Also, this study analyzes the expected effects of developing payment systems and fintech applications. Methodology- The study defines different types of digital payment systems, compares general characteristics of digital payments, provides a timeline of developments for digital payment systems and compares most used digital payment applications. Findings- The payments market is changing in line with consumer behavior. Cashless economies, mobile banking, instant payments, digital commerce, and the growing impact of regulatory agencies are a few trends affecting the payments market. Contactless payments also make the payment process easier and more convenient for consumers who benefit from shorter lines, cash-on-hand issue elimination, and faster moving queues.The Asia-Pacific region is anticipated to witness significant growth in the market such as China and India. Digital and mobile wallets account for 58% of regional e-commerce payments in the region and are expected to reach 68.2% by 2023. The e-commerce sector is witnessing a spike in demand as consumers order essential items such as food and clothes through e-commerce websites, where most consumers prefer the digital mode of payment.Transition towards the cashless economy, emergence of new online financial institutions, a decentralized monetary governance with the adoption of blockchain and cryptocurrencies are envisioned. Advancements in payment technologies as well as digital payment systems adoption will create momentum and create further investments towards digitalization of monetary exchange. Conclusion- It is concluded that evolution of digital payment systems will extend convenience, return, convergence, cross-border and timelimitless transaction. Inclusion of the unbanked is expected to drive growth and create new opportunities. There is a clear transition towards a cashless economy with the increasing adoption of digital payment systems by all spenders. Speed, privacy, convenience, security and decentralization will mean a wider inclusion for all global citizens; even including some unbanked population. Decentralization and blockchain will mean a blur in distribution of wealth, some money leaving the traditional banking systems. Digital payment systems provide a wide range of transaction options to its users; swiped credit cards, electronic checks, mobile wallets and contactless payment. By 2050s, the circulation of physical money is expected to vanish, leaving its place to virtual currencies changed on digital platforms.
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    International trade between Turkey and China
    (PressAcademia, 2023-02-01) Teker, Suat; Teker, Dilek; Orman, Irmak
    Purpose- This study examines the development of China – Turkey international trade with the comparison of macroeconomic trends, global trade developments, bilateral agreements. Also, this study analyses the expected effects of de-globalization, broken global value chains after the Covid19 pandemic and Russia’s invasion of Ukraine. Methodology- The study provides a macroconomic background for international trade developments between 2000 – 2021, focusing on China and Turkey. By comparing and examining world trade developments, the study sets a numerical background for potential future developments. Findings- The analysis reveals that global developments, changing power structures and trade flows has been re-shaping the world economic outlook and causing few debates around the continuity of “globalization”. Rising political nationalism, repercussions of Covid 19 pandemic, supply/demand mismatches, Brexit and Russia’s invasion of Ukraine has shifted international trade paradigms and Great Powers that has been the cause and pioneers of globalization are now forming new partnerships. As one of the largest and most dominant players in global world trade, China has a pivotal role in determining the changing paradigms of international trade. Turkey also plays a critical role in current re-positioning of the world trade not because of the share it has from international trade like United States, European Union, China or Russia but because of the geopolitical importance it has and because of the bilateral relations it builds with other Great Powers. Conclusion- Turkey’s bilateral trade volume has been growing with China and is set to grow further with all the economic and politic steps taken. Covid19 pandemic and the shutdowns have shown to the world the importance of free trade, uninterrupted supply chains and global stability. The pandemic restrictions are finally over but the effects on worldwide economy and politic instability caused by Russia’s invasion of Ukraine have forced new economic alliances. Turkey, with its proximity to European markets and cheap labor, is becoming a new base of production for international players. Numbers prove that bilateral economic relations have grown with China, but the growth has been mostly fueled by exports from China, causing the trade gap to become wider. As Asia is becoming to be the center of global economic growth, it is certain that Turkey’s international trade with China and it’s partners will grow.
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    Turkiye as a regional hub
    (PressAcademia, 2024-01-15) Dilek, Teker; Teker, Suat; Orman, Irmak
    Purpose- This study examines Türkiye's strategic importance and potential to serve as a pivotal regional hub for businesses. The study alsoinvestigates the various fields of businesses for being a potential hub. A review of common concerns that needs further developments are analysed. Methodology- The study utilizes an analytical literature survey and investigates the various business fields for becoming a regional hub. Findings- Turkiye is the 7th largest economy by GDP in Europe by IMF among 22 countries for the year 2022. Turkiye is ranked as the 1st in ease of setting and welcoming categories at Expat Explorer Index, and 7th in the world in the year 2019. More, Turkish international airports serve for 342 direct flights for 128 countries with Turkish Airlines and proximity to these markets with a total GDP of 46 trillion USD within 4 hours flight. Conclusion- Turkiye's unique geographical position bridges Europe and Asia providing a natural gateway between the East and the West. Proximity to major markets enhances its appeal as a strategic center for trade and commerce. Ongoing investments in infrastructure, including transportation networks and logistics facilities, are positioning Türkiye as a key hub for the efficient movement of goods and services. Modern ports, airports, and road networks facilitate seamless connectivity within the region. Türkiye's growing economy attracts foreign investments, fostering the development of financial services and encouraging multinational companies to establish reg ional headquarters.