Turkish fintech SiPay launched its R&D Center

Sipay, one of the leading companies in the FinTech industry, has put its R&D Center into operation before completing its fifth year. Focusing on developing innovative solutions with its R&D team of 45 people and having 3 international scientific publications in addition to 3 patent applications, Sipay aims to develop global solutions in the coming period.

Sipay, which entered the financial technology sector in the last months of 2018 with the motto of “offering innovative and dynamic solutions in the field of payment systems”, opened the doors of its R&D Center. Developing innovative technologies in the field of finance with its R&D team of 45 people, Sipay aims to develop solutions on a global scale and to be among the pioneering and leading brands in the sector abroad.

Targets at least 1 patent application per year

Commenting on the subject, Sipay CEO Semih Musabak said:

“As Sipay, we are always aware that using existing technologies alone is not enough to gain competitive advantage. Since the day we were founded, we have been focused on innovation and technology. Our projects are developed using technologies such as machine learning, artificial intelligence and data analysis. At this point, our company combines digital wallet infrastructure, card and cardless payment, bank transfer and all other alternative payments under one roof. In this way, we grew by 730% in 2022.

We do not only use ready-made technologies in our projects, we also carry out technology development studies that will contribute to the literature. We have 3 patent applications and 3 international scientific publications obtained from the technologies and projects we have developed. With the commissioning of the R&D Center, our goal is to create at least one scientific publication from each of our R&D projects and to make at least one patent application every year.”

Preparing to serve in England, Dubai and Azerbaijan

Noting that Sipay has determined its vision to be a firm that has a say in the global market in the field of financial technologies, Musabak continued his words as follows:

“Our priority is to be a global brand in the medium and long term, to represent our country abroad in the field of financial technologies and to add value to our geography. Rather than presenting a worldwide innovation to the Turkish market, we aim to find the global needs and bring our technology to a level that can be exported abroad. In order to support our vision of becoming a global brand, we will soon start serving in the UK, Dubai and Azerbaijan locations. Our work continues at full speed to increase the number of countries we serve.”

Universities and industry organizations expand their cooperation

Sipay R&D and Project Manager Zeynep Sandikci emphasized that they work strategically in cooperation with universities within the scope of R&D activities,

“In this context, we have developed cooperation with Beykent and Marmara Universities. In the coming period, we plan to further expand university collaborations. At the same time, as Sipay, we cooperate with many industrial organizations focused on R&D and develop joint projects.”

It has made a name for itself in the sector with the awards it has received

Sipay has been deemed worthy of many awards for its technology-oriented approach in payment systems. Sipay, which is on the list of Turkiye’s 50 fastest growing companies in Deloitte Technology Fast 50 2021, received the “Start-Up of the Year” at the PSM Awards 2020 ceremony, and the “Most Innovative Product” and “Best Infrastructure” awards in 2022. In Rise of Brands, it was named “Emerging Fintech Brand of the Year”.

Source: Egirisim / Prepared by Irem Yildiz

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