Financial Technologies

Financial Technologies

Financial technologies (FinTech) have seen remarkable growth in recent years, fueled by rapid technological advancements, shifting consumer preferences, and the expanding influence of online commerce. 

At our firm, we offer comprehensive legal support to a diverse range of FinTech companies, from digital banks to electronic money institutions and payment service providers. Our specialized FinTech team is dedicated to assisting both local startups and global enterprises, ensuring compliance with regulatory requirements and delivering the legal expertise essential for success in this dynamic sector. 

Licenses and Approvals 

We regularly assist clients with all processes related to license applications to public authorities, such as the Banking Regulation and Supervision Agency (BDDK) and the Central Bank of Türkiye, for company incorporation and operation within the relevant financial services market. With extensive practical experience in this area, we have successfully navigated the licensing process for numerous digital banks, electronic money institutions, and payment service providers. Additionally, we support clients in obtaining approval for new financial products and services. 

Regulatory Compliance 

Our FinTech team assists clients in ensuring compliance with both local and international financial regulations, including Law No. 6493 on Payment and Securities Settlement Systems, Payment Services, and Electronic Money Institutions, as well as other relevant regulations established by BDDK or the Central Bank of Türkiye. 

FinTech companies must adhere to anti-money laundering regulations to prevent financial crimes, particularly those set forth by the Financial Crimes Investigation Board (MASAK). We assist clients in developing robust anti-money laundering policies and procedures and implementing effective strategies to ensure compliance. 

We keep our clients informed about legislative changes and provide expert advice on necessary operational adjustments to maintain compliance. 

Contracts 

We assist FinTech companies in drafting and reviewing a range of contracts, whether with businesses or customers, with the goal of ensuring compliance with financial regulations and other relevant laws, such as consumer protection and e-commerce legislation, while safeguarding their best interests. 

Data Protection and Privacy 

Given the regulations specifically addressing data localization for financial institutions, as well as the volume and sensitivity of the data they collect, data protection is a critical area where financial institutions need legal assistance. We regularly assist our FinTech clients with all aspects of data protection, including managing compliance programs and ensuring their effective implementation. 

Dispute Resolution & Litigation  

FinTech companies often face disputes with various parties, including regulatory authorities, consumers, and business partners. Our firm possesses unique expertise in representing clients in regulatory investigations and administrative litigations against regulatory decisions or regulations. We handle a wide range of judicial proceedings, including civil, criminal, and arbitration matters for our clients. Additionally, we offer mediation and negotiation services to resolve disputes efficiently and amicably.