Paratika has received a new authorization from the Central Bank of the Republic of Türkiye to provide open banking services. The authorization enables Paratika to introduce two new capabilities: initiating payments from accounts held at other financial institutions and presenting consolidated account information from multiple providers through a single interface.
These capabilities introduce two new services. Payment Initiation Services enable payments to be initiated directly from accounts held at other financial institutions, simplifying payment flows and enabling faster and more seamless transactions. Account Information Services allow users to view consolidated information from multiple payment accounts through a single interface, helping them manage their financial data more easily and supporting the development of new digital services.
Since receiving its first license in 2016, Paratika has been operating in the payment systems field with its established technology infrastructure and industry expertise. With this latest authorization, the company expands the range of services it can provide within the regulatory framework while continuing to support its partners and customers with reliable and compliant financial technology solutions.