FINTECH

FINTECH

The digital revolution we are in is drastically changing and even redefining the traditional roles and functions of financial services. Web technology, which started in the 90s, has now become Web 3.0 with the support of blockchain technology and artificial intelligence.

As a natural consequence of this technological development, new business models are emerging in the field of financial technologies (fintech). Since fintech concerns all sectors related to finance, banks, payment institutions, factoring companies, electronic money institutions, crowdfunding platforms, portfolio management companies and crypto asset service providers can benefit from many applications within the scope of fintech. For example, digital banking, new generation payment services and POSs, electronic signatures and customer recognition by remote identification are some of the frequently used fintech applications today.

However, the fact that the sector is highly regulated, that makes it necessary for companies to   put great effort to  create new business models as well as to comply with legislation. In addition to the provisions of general regulatory legislation, fintechs are subject to the regulations of the Central Bank of the Republic of Turkey, the Banking Regulation and Supervision Agency, the Financial Crimes Investigation Board or the Capital Markets Board, depending on their field of activity. Accordingly, it is of utmost importance that legal compliance assessments of fintech applications are carried out meticulously and that end-to-end legal support is provided not only at the beginning of the project but also throughout the entire process. In this context, we assist our clients in particular to  the following areas;

  • Conducting establishment permit, activity permit and other licensing processes,

  • Conducting regulatory compliance processes,

  • Managing trademark and patent applications and related intellectual property issues,

  • Conducting data protection compliance processes,

  • Preparation and negotiation of contracts.

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