Timur Turlov – The Founder and CEO of Freedom Holding Corp. has shared his vision for the company’s development strategy for the next several years.
Building close relationships with partners and clients, the ability to collect and analyze big data, global expansion, and visionary thinking – all of these are key ingredients in the recipe for a successful company, the financier said.
During The International Financial System in a New World conference, organized by the company in mid-September in conjunction with the Reinventing Bretton-Woods Committee, Timur Turlov, along with international experts, top managers of central banks and representatives of global exchanges, discussed future perspectives for the development of the global economy and monetary policy, as well as the role of technology in transforming global financial markets.
According to Timur Turlov , the Freedom Holding Corp. currently controls the largest ecosystem of financial services in Kazakhstan, including a bank, two brokerage companies, an insurance business and a payment service. Many of them are leaders in their industries. Furthermore, starting this year, all services for Kazakhstani citizens are available through the Freedom SuperApp, allowing the company to accumulate a massive amount of data about consumers’ behavior and preferences.
“Big data is a very significant competitive advantage. The more we know about our clients, the better we understand their real needs. This information allows us to make more accurate offers and avoid unnecessary and annoying communication,” Timur Turlov explained.
Building trustworthy partnerships is another critical condition for business; it is impossible to do so without clear communication.
“The more transparent we become, the more likely we are to gain support from people who are willing to open their doors for us. We can gain trust from the government if they know that our users, shareholders, and employees trust us as well. This is the only way you can build a company capable of changing the whole industry,” Timur Turlov emphasized.
Erasing boundaries
In today’s world, where boundaries are nearly nonexistent thanks to the internet, a global approach to products is key to the successful development of any company. The businessman pointed to Freedom Broker as an example. The company provides retail investors access to Kazakhstani and leading international exchanges.
As Timur Turlov noted, the majority of companies in Europe do not try to build direct access to exchanges, relying instead on large providers of such services. The problem with this approach is that it requires a lot of resources and lacks flexibility, as it depends heavily on the service provider.
“To be a winner in this highly competitive market, we are compelled to launch various services that are best-in-class and expand our business geographically by entering new markets. This is essential to staying competitive,” Timur Turlov highlighted.
He is also convinced that the current situation in Central Asia is unique. It is a moment of truth for Kazakhstan, which has everything necessary – a technological upper hand in many verticals, a financial center operating within the framework of international law, free capital flow and the highest rating from Moody’s – to become a regional leader.
To illustrate the favorable conditions in the country, Timur Turlov mentioned the partnership between Freedom Holding Corp. and the Astana International Financial Centre’s (AIFC) registered trading platform ITS, aimed at developing the foreign securities market.
“The ITS is a unique gateway for brokerage companies from Kazakhstan, Kyrgyzstan, Uzbekistan, Azerbaijan and Turkey striving to gain access to U.S. securities,” the businessman said, adding that Freedom is ready to serve as a single-entry point, allowing dozens of regional banks, hundreds of brokers and thousands of their clients to connect to trading sessions on Wall Street through ITS.
Ahead of the game
The ability to look ahead and identify low-competition, high-margin niches that others are unaware of is the key competitive advantage of Freedom Holding Corp., according to Timur Turlov.
“We have been working on our ecosystem for more than five years, and I am convinced that we are going to make a significant leap in our business over the next two to three years, thanks to the integrations we are implementing today. Moreover, in five years, we will be almost unchallenged by our competitors,” the financier stated.
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