Finance Office publishes Türkiye Fintech Guide

By Tuba Ongun

ANKARA (AA) - The Presidential Finance Office on Tuesday published 'Türkiye Fintech Guide' prepared with the vision of developing and disseminating financial technologies.

The guide contains explanatory information such as the regulations concerning the institutions engaged in licensed fintech activities, and their organizational obligations, according to a statement from the Presidential Finance Office.

It also includes the basic indicators of establishing a fintech startup and is intended to provide a roadmap to entrepreneurs who are interested in and want to operate in the field of fintech.

The guide consists of two main sections -- Türkiye's strengths in the field of start-up and fintech, and the business models and regulatory agencies in the Turkish fintech ecosystem.

"The Türkiye Fintech Guide, which we have prepared as the Finance Office, is a first for entrepreneurs who want to implement regulated business models in the emerging financial technologies ecosystem," said Goksel Asan, head of the presidency's Finance Office.

"Our publication is a guide for institutions that will enter the market in verticals such as e-money and payment institutions and crowdfunding platforms," he added.

Türkiye ranked 10th in Europe and 3rd in the Middle East and Africa Region in start-ups investments in 2022, read the statement.

Some 637 fintech companies are operating in Türkiye as of March 2023.

Fintech investments in Türkiye reached an all-time high of $89 million in 2022, contrary to the global decline trend, the Finance Office noted.