Turkey

Open Banking

Open Finance

Turkey is a transcontinental country located mainly on the Anatolian Peninsula in Western Asia, with a small portion on the Balkan Peninsula in Southeast Europe.

A graphic image showing world countries and border lines in different shades of blue, Turkey is made prominent being filled in orange colour.

74% of Turkish have access to the internet.

The legislative framework of Open Banking in Turkey is very similar to the EU PSD2.

Turkey closely follows the EU model.

According to the Global Findex Database, 74% of adults in Turkey had bank accounts in 2021, leaving 26% unbanked.

There are 520 Fintech companies in Turkey and 56 accredited payment and e-money Fintechs, as well as five accredited equity-based crowdfunding platforms.

Turkey ranked 79th out of 134 in Wiley’s Digital Skills Gap Index (DSGI) 2021.

Turkey has announced that it is planning to launch a regulatory sandbox.

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