REGULATING DIGITAL BANKING IN TURKEY AND THE EU: LEGAL DIVERGENCES AND PATHS TO ALIGNMENT

Authors : Muhammed Mustafa Tuncer Çalışkan

Pages : 113-131

Doi:10.54860/beyder.1757538

View : 109 | Download : 277

Publication Date : 2025-12-30

Article Type : Research Paper

Abstract :This study conducts a comparative legal analysis of digital banking regulations in Turkey and the European Union (EU), intending to identify structural divergences and opportunities for regulatory alignment. Focusing on three key legislative pillars in the EU—PSD2 (Second Payment Services Directive), GDPR (General Data Protection Regulation), and DORA (Digital Operational Resilience Act)—this research conducts a comparative evaluation of digital banking regulations. It assesses how Turkey’s framework, primarily shaped by Law No. 6493 and the Regulation on Digital Banks, aligns in terms of legal scope, implementation, and institutional preparedness. The analysis finds that although Turkey has made significant regulatory progress in establishing a legal basis for digital banking, significant gaps remain. Open banking practices are underdeveloped, with limited API integration and insufficient legal clarity for third-party providers. Personal data protection, governed by Turkey’s KVKK, lacks full alignment with GDPR standards, particularly in terms of user consent, data portability, and supervisory authority. Moreover, unlike the EU, Turkey does not yet have a comprehensive legal framework similar to DORA to address digital operational risks and ensure ICT resilience in the financial sector. Based on these findings, the study concludes that Turkey’s current framework does not fully support the creation of a resilient, secure, and innovation-driven digital banking environment. It recommends targeted reforms, including the adoption of cybersecurity legislation, the strengthening of regulatory agencies’ technical capacity, and the promotion of fintech–bank collaboration. Enhancing consumer trust and legal certainty through EU-compatible data protection and open banking standards is also critical. These steps are essential not only to improve financial inclusion and innovation domestically but also to enhance Turkey’s alignment with the EU digital finance ecosystem.
Keywords : Dijital Bankacılık, Açık Bankacılık, Siber Güvenlik Düzenlemeleri, PSD2, GDPR, DORA, Türkiye–AB Karşılaştırması

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