Papel Redesigning Finance with Artificial Intelligence and Smart Products

Financial technologies are undergoing a profound transformation driven by artificial intelligence and next-generation security solutions. As one of Turkey’s innovative payment institutions, Papel aims not only to follow this change but also to shape the sector with its own products and forward-thinking approach. The company presents an ambitious vision ranging from user-centric innovative solutions to its RegTech-focused future roadmap.

In this exclusive interview with Papel Chairman Seyhan İbrahim Yıldırım, we discuss the company’s recently developed Face Payment technology, the upcoming AI-based KYC integration, its AI-supported operational and marketing infrastructure, and its 2026 RegTech plans.

Yıldırım shares how these technologies will reshape both user experience and security standards, explaining their role in Papel’s strategy and their impact on the future of Turkey’s fintech ecosystem.

1. Mr. Yıldırım, Papel’s recent technology investments are widely talked about. What vision lies behind such a strong focus on tech?

Seyhan İbrahim Yıldırım:

For us, technology is not just a tool, but a mindset. When we founded Papel, our goal was not merely to develop payment systems; it was to create a financial ecosystem that understands the user and earns their trust. Today, artificial intelligence lies at the heart of this vision. Because users now expect speed, security, and an intuitive experience.

We are gradually bringing solutions to life that meet these expectations. Our recently launched “Face Payment” technology is an important example of this. The Sticker Card, which will soon meet our users, is another innovation designed to make daily life easier. Our work continues to bring to our users innovative products that have never been done before in Türkiye.

2. How does Papel position itself in terms of bringing new technologies to Türkiye?

Seyhan İbrahim Yıldırım:

We position Papel not just as an electronic money institution, but as an innovation platform that guides the development of financial technologies in Türkiye. We care about being one of the pioneering companies that implement global trends in financial payment technologies in the Turkish market. Face Payment, Sticker Card, the Amani integration, and our AI-based operational infrastructures are all results of our vision to bring global trends to Türkiye.

3. You mentioned Sticker Card… What kind of innovation does this product bring to users?

Seyhan İbrahim Yıldırım:

Sticker Card is a new solution we developed to make the payment experience more practical, more personal, and faster. Users can make contactless payments by attaching this card to the back of their phone or any frequently used smooth surface.

This format is not widely used in Türkiye. We are not only “bringing” a new technology; we are reshaping it according to the habits of the Turkish market. For this reason, Sticker Card is not just a product for us; it is a step that redefines the payment experience.

4. You are launching a partnership with Amani in your remote onboarding processes. Amani is known globally and serves major financial brands. What does this partnership mean for Papel?

Seyhan İbrahim Yıldırım:

Amani is not just a solution provider for us but a strategic technology partner. We will soon activate an entirely AI-powered system capable of verifying identities within seconds in KYC processes.

Through this integration, we aim to significantly simplify the user experience and raise our security standards to a higher level. Collaborating with a globally recognized technology partner will elevate Papel’s vision to a global level as well.

5. Speaking of artificial intelligence… this technology is being discussed almost everywhere now. Where will AI make an impact within Papel?

Seyhan İbrahim Yıldırım:

Practically everywhere. We are launching a system in our call center where robot assistants can recognize users, analyze emotional tones, and guide them correctly.
On the operations side, the testing phases of algorithms that monitor processes and learn autonomously are nearly complete. Additionally, on the technology integration side, our AI-supported assistants will make our customers’ integration processes much faster and easier.

In the near future, we will begin using AI not only in operational processes but also actively in growth and marketing. With our data analytics models, we will be able to perform accurate customer segmentation, analyze user behavior, and design personalized campaigns. This will enable us to connect with users at the right time and in more meaningful ways, aiming to make engagement sustainable.

In short, the system will soon transform from merely “responding” into one that “understands and produces solutions proactively.”

6. At this point, security and regulatory compliance are critical. What is Papel’s stance on combating illegal activities?

Seyhan İbrahim Yıldırım:

At Papel, combating illegal activity is of great importance. After the recent electronic money institution closures in the sector, we observed that certain malicious individuals and groups attempted to target our company. However, thanks to the technical and operational measures we take, we quickly identify and separate these individuals from the system and maintain a determined fight for the security of the entire ecosystem. In the past 14 months—especially after the increase in applications received due to developments in the sector—we have closed approximately 45,000 accounts for various reasons and reported these individuals to the relevant authorities as required by law. We have no hesitation in closing accounts; we remain determined in combating illegal activities, unlawful usage, and high-risk transactions.

There will always be critics or malicious attacks; however, statements or actions outside our institution are not our responsibility. In such cases, we are only responsible for reporting necessary information to the relevant authorities. Our main focus is on detecting and preventing potential abuse within the transaction flows of users who enter our system or while they benefit from our products. In this direction, we continuously enhance our security measures and continue on our path with determination.

Attempts at abuse will always exist; however, once they enter our system, these individuals can be certain that they will be identified within a short period and added to our already more-than-45,000 blocked accounts. Papel is among the institutions with the broadest “identified suspicious user pool” in Türkiye’s payment industry. We believe that the measures we implement are among the strictest in the sector, and the numbers clearly show this. For those considering such attempts, let us state clearly: there will always be a place for them on this list. Outside the system, our authority is limited to reporting detected events to regulators, but once inside, transactions are restricted by database-integrated rule sets and are analyzed in real-time by sophisticated software that can instantly terminate them when necessary.

Our doors are open to everyone, and within the confidentiality rules mandated by law, we are open to showing our efforts and results to anyone who schedules a visit.

We believe that this approach—protecting users, the ecosystem, and financial security—raises overall sector security standards.

7. What kind of technical infrastructure and security system do you use while carrying out this extensive fight? How do you detect and prevent abuse attempts?

Seyhan İbrahim Yıldırım:

Any misleading or harmful activity carried out using our name on social media or other malicious platforms is immediately reported to state authorities as a precaution. Within our system, three sophisticated automated compliance software tools—whose names I cannot disclose for security reasons—along with database-integrated transaction restriction rules and two additional tools used by our risk team, detect and take action against such activities.

Additionally, we take pride in being among the fastest-acting institutions in the sector in implementing the illegal-activity detection and monitoring mechanisms required by the Central Bank of Türkiye (TCMB). Although I cannot share details due to confidentiality, Papel was among the fastest to implement and largely adapt to the recommended rule sets in the very month they were issued. Compliance and rule sets are highly sensitive and confidential areas, so I cannot elaborate further.

At the core of this success lies our AI-powered risk engine and the risk and security rules embedded into our digital wallet application. The system is designed to detect potential illegal activities without human intervention and take immediate action. Additionally, to prevent young individuals aged 18–20 from being lured into account-rental-based illegal activity schemes, we launched one of the sector’s first specialized rule and limit sets. We continuously update our rule sets.

8. Let’s talk about RegTech… This concept appears often in your 2026 plans. What is RegTech, and what is Papel aiming for in this area?

Seyhan İbrahim Yıldırım:

RegTech, or “regulation technologies,” is now on the agenda not only of global banks but of the entire fintech ecosystem. It is one of the most important transformational tools that make financial systems more secure, transparent, and sustainable.

At Papel, our aim is to remove compliance processes from manual controls and transform them into an autonomous AI-driven structure. In other words, we are designing a model in which the system identifies a violation or risk situation before a human notices it, issues an alert, and can take action. Thus, both security and regulatory compliance will become entirely proactive.

The Fintech Innovation and Strategy program I completed at Harvard Business School gave me the opportunity to closely observe the international reflections of this field. While many institutions around the world are placing AI at the center of their compliance processes, we aim for Papel to be one of the electronic money institutions implementing this transformation in Türkiye.

By 2026, we aim to complete our AI-powered RegTech infrastructure and create a model example in Türkiye’s fintech ecosystem.

9. Such systems require a strong software architecture. Does AI not also require transparency?

Seyhan İbrahim Yıldırım:

Absolutely. We also plan to build our AI architecture on “explainable AI,” systems capable of explaining their decisions. Thus, the system will be able to explain retrospectively why a transaction was approved or declined.
In a trust-based sector such as finance, this level of transparency is crucial, and we aim to strengthen user confidence further by launching this infrastructure in the near future.

10. How will the integration of call center, operations, and compliance processes empower your organization?

Seyhan İbrahim Yıldırım:

It is essentially an integrated intelligence. AI is no longer just a system that collects data; it analyzes, interprets behavior, and protects the user at every touchpoint. We call this “empathetic technology in finance.”
Our goal at Papel is to ensure that technology is not a cold system, but one that understands the customer and speaks their language.

11. Building such a powerful technology infrastructure is a major step for a fintech. What sets you apart from others?

Seyhan İbrahim Yıldırım:

Our difference is this: we see technology not as a goal, but as a way of creating value.
Some companies build only payment infrastructure, others focus solely on regulations… we plan to combine all of these under one roof with AI in the near future. Our goal is to earn the user’s trust, preserve speed, and remain fully compliant with regulations—this balance is what sets us apart.

12. Finally, what message would you like to give Papel users regarding this transformation?

Seyhan İbrahim Yıldırım:

It’s actually very clear: “We offer you a technology experience that knows you, protects you, and grows with you.”
We will integrate AI not only into our system but into the core of the experience. Because technology only truly gains meaning when it understands people.

Who is Seyhan İbrahim Yıldırım?

Seyhan İbrahim Yıldırım, born in 1980, is a legal professional and fintech entrepreneur from Northern Cyprus. He studied Business at Orpington College in the UK, later at Law with Business Studies at the Faculty of Law, Kingston University in the UK, and graduated with honors in Law in 2003. After becoming a lawyer, he founded his own law firm.

He later expanded into construction in 2006, finance in 2009, and fintech in 2019, establishing Papel Electronic Money and Payment Services Inc. and other ventures in Turkey, Azerbaijan, and the UAE. He currently serves as Legal Counsel to Northern Cyprus's President and Prime Minister and advises on EU and banking laws.

In 2025,  upon successful completion of the Fintech program, he earned a FinTech certificate from Harvard University. Fluent in Turkish, English, and German, he is also active in charitable work and legislative reform.