Credit Card
What Is KKB (Credit Registration Bureau)?
KKB (Credit Registration Bureau) is a private company established in 1995 under Banking Law No. 5411 with nine bank shareholders, sharing credit information among member institutions.
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"information systems"
272 articles found
Fraud
What are data leakage frauds?
Data leakage is the intentional or accidental exposure of sensitive data through any channel where it is stored, processed or transmitted. This post covers its three main causes and the DLP solutions used to prevent it.
Laws & Regulations
Statements Will No Longer Be Sent by Email. So What Happens Now?
Under the regulation on banks' information systems and electronic banking services, from 1 July banks may send statements, receipts and account summaries containing sensitive data only through electronic banking channels, not by email or SMS.
Payment Institutions & E-Money
What Is Electronic Money?
In general, electronic money is monetary value stored on a protected technological device. Turkish law defines it under Law No. 6493 as electronically stored value issued against funds and accepted by third parties as a means of payment.
Payment Institutions & E-Money
Regulation on Payment Institutions and E-Money Institutions Repealed
The new regulation on payment services and e-money issuance, published on 1 December 2021, repealed the 2014 regulation on payment institutions and e-money institutions and the related information systems communiqué. This post summarizes the change and the Article 33 equity requirement.
Payment Systems
Guide on Data Sharing Services in Payment Services Published
Open banking opens financial data, under the regulations and with the customer's explicit consent, to third-party service providers through standard APIs. The CBRT has published a guide on payment initiation and account information services, covering licensing and technical certification.
Laws & Regulations
What are the regulations and legal obligations of payment institutions?
A payment institution is a legal entity that provides payment services for electronic payments through the infrastructure it offers. This article covers the Turkish regulatory framework, licensing, safeguarding, supervision, penalties and taxation.
Open Banking
What are the differences between Banking as a Service and Open Banking?
First, it is useful to briefly recall the concepts of Banking as a Service and Open Banking. Banking as a Service (BaaS) lets interface developers connect directly to service banks' systems via APIs and open banking services to run banking transactions for customers...
Security
What is the First Credential-On-File transaction?
The first transaction made after a customer's card data is stored with a merchant is called the First Credential-On-File transaction. BKM expects it to be flagged with the value "C" in switch message field DE48.PDS86, and BRSA draft rules govern how card data may be stored.
HSM & Security
What is a transaction performed with stored card data (Credential-on-File)?
Non-face-to-face transactions in which the cardholder authorizes the merchant to store card data, and the merchant uses that stored data to carry out the transaction, are called Credential-on-File (CoF) transactions.
Payment Systems
“Draft Communiqué on Remote Identity Verification Methods to Be Used by Banks” Prepared
The BRSA has prepared a draft communiqué setting out remote identity verification methods banks can use for new customer acquisition and identity verification, under Banking Law No. 5411 and the regulation on banks' information systems.
Payment Systems
Can Foreign Payment Institutions Operate in Türkiye?
All payment and electronic money institutions operating in Türkiye fall under the relevant regulation. A license from a foreign authority is not enough; a foreign institution must obtain a license from the Central Bank.