TCMB launched its open banking service

The Central Bank of the Republic of Turkey (TCMB) announced that it has opened up open banking services in the payments area, which is a component of the digital economy roadmap of the liraization strategy. The Central Bank of the Republic of Turkey (TCMB) has opened up Open Banking services in the payments area, which is an important component of the digital economy roadmap of the liraization strategy. In the statement made by the TCMB, it was stated that the ‘Open Banking Gateway’ (GEÇİT), which was developed by the Interbank Card Center (BKM) and enables standard open banking transactions to be offered to the parties, has started to provide services through its infrastructure. The following statements were used in the statement: In parallel with the regulatory studies, in order to determine the detailed technical and operational requirements with the ÖHVPS application strategy, best practice examples in the world were examined and studies were carried out in cooperation with the TCMB and BKM. As a result of the said studies, a common platform was designed for the low-cost, efficient and effective payment services data sharing services experience that ensures the rapid integration of our stakeholders, also taking into account the conditions and needs of our country. In this context, the ''GEÇİT'' infrastructure has been established, which allows the creation of secure, efficient, effective, low-cost and innovative business models where financial service users can manage their accounts with different payment service providers from a single access point and place payment orders. GEÇİT, which was developed and offered by BKM with completely in-house human and technical resources, has been positioned as a common ÖHVPS infrastructure. As of today, six of our banks that have successfully completed their tests and technical certifications have started to provide services as account service providers through 'GEÇİT'. At the same time, as a result of the studies carried out by the ÖHVPS Working Group, the ÖHVSP API Principles and Rules (API Standard) document, which determines the technical and operational requirements for ÖHVPS, has been prepared and published publicly on our Bank's website. The Instant and Continuous Transfer of Funds (FAST) System, which enables instant money transfer 24/7/365 of the Data Sharing Services in the Payment Services Field, TR QR Code, which is our country's national QR code standard in the field of payments, in addition to IBAN numbers; It is evaluated that the Easy Addressing System, which allows easy and fast FAST payments to be made with a phone number, ID number or e-mail address, and the Digital Turkish Lira Cooperation Platform announced by the Central Bank of the Republic of Turkey on September 15, 2021, whose medium and long-term aim is to ensure and maintain the lira as the most practical, most pragmatic, cheapest and most inclusive payment tool, will make significant contributions to our country's economy in line with our digitalization goals.