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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...
Open Banking
No. Under the BRSA communiqué on service model banking, service banks can provide service model banking only to interface developers resident in Türkiye.
Laws & Regulations
The articles of the Regulation on the Accessibility of Banking Services are listed below. Published in the Official Gazette on 18 June 2016 (issue 29746), banks must strictly comply with them. PART ONE Purpose...
Laws & Regulations
The Regulation on Information Systems of Banks and Electronic Banking Services sets the minimum procedures and principles for managing bank information systems, providing electronic banking services and managing related risks, along with the required information systems controls.
Open Banking
Under the communiqué, service model banking does not require a separate BRSA license, but the service bank must notify the BRSA in writing before signing a contract with an interface developer.
Payment Systems
Digital Account Checking underpins many innovative banking and FinTech services. In most cases, it is performed by Account Information Service Providers, which supply data from customers' online bank accounts to other banks and third-party providers.
Open Banking
Digital banking is talked about more every day, and with the BRSA's support in defining its scope, it is about to enter our lives. A 'digital bank' is a credit institution that provides banking services mainly through electronic channels rather than physical branches.
Payment Institutions & E-Money
On 7 October 2023, the CBRT amended the Communiqué on Information Systems of Payment and E-Money Institutions and Data Sharing Services of Payment Service Providers, first published on 1 December 2021. Links to the new text, a comparison table and a detailed summary of changes follow.
Laws & Regulations
The CBRT announced that it has launched open banking services in payments, a component of the digital economy roadmap of its liraization strategy, through BKM's Open Banking Gateway (GEÇİT).
Open Banking
Embedded Finance means integrating financial products and services into non-financial platforms, experiences or business processes. In other words, services offered by financial institutions become part of the product or service flows of non-financial organizations.
Laws & Regulations
It is the regulation that sets out the procedures and principles for banks procuring support services, that is, outsourcing. Some services such as catering, legal counsel and advertising are outside its scope.
Laws & Regulations
Digitalization is changing how banks onboard customers. This post covers digital identity, verification methods, what the Turkish ID card offers, and Article 43 of the Regulation on Information Systems of Banks and Electronic Banking Services on remote identity verification and open banking.