FinTech institutions, which place at their core the idea of supporting the financial system with technology, operate in many different fields such as payment systems, money transfer systems, e-money, receivables management and insurance. The FinTech sector, particularly advanced in our country, also touches upon many of the legal developments of the last decade. In this context, building a legal framework compatible with innovative technologies will help keep financial services safe and stable for both users and companies.
Legal advice is needed to assess the position of innovations in financial services brought by FinTech institutions vis-à-vis the regulatory framework, and to verify compliance of activities with sector-specific regulations. In this respect, Aksan Law Firm provides:
- Management of the application processes before the Central Bank of Türkiye for electronic money and payment institutions, which can be incorporated and commence operations only under the supervision of the Central Bank;
- Drafting of data and information security policies;
- Drafting of AML and KYC documentation and legal advice in respect of suspicious transactions;
- Conducting compliance projects to ensure adherence to specific regulations such as the rules of the Financial Crimes Investigation Board (MASAK);
- Drafting of customer agreements, agency agreements, framework agreements and other documents critical to FinTech institutions.
These services are provided by our team.
