About

Garanti Payment Systems, the card payment systems unit of the second largest private bank in Turkey, has a legal team of eight to support its innovative products and services. The team, led by Cem Gürkan Alpay, is at the core of the decision making process for Garanti Payment Systems, and licensed under the Central Bank of the Republic of Turkey (CBRT). Garanti Payments Systems is one of only five authorised payment settlement entities, and provides clearing and settlement services to 10 other banks. When Garanti Payment Systems was granted a license to operate as a payment settlement entity it became subject to the supervision and regulation by CBRT; the legal team was integral to the structuring and organisation of the company in line with new scrutiny. After designing internal mechanisms, the team became responsible for the new products and services Garanti Payment Systems was due to offer. Commenting on the team’s contribution Alpay says, ‘our team works closely and in cooperation with the other departments. We can observe that our legal guidance and solutions are welcomed with gratitude by other departments and we have been ranked highly in internal customer satisfaction surveys’. The legal team has been outspoken in the wider industry as well, often attending industry meetings, entering into conversation with supervisory authorities and commenting on draft legislation.