New Era In Banking: Branchless Digital Banking

Regulation on Remote Identification Methods to be Used by Banks and Establishment of Contractual Relations in Electronic Media ("Regulation"), prepared by the Banking Regulatory and Supervisory Agency, is published in the Official Gazette dated April 1, 2021. The Regulation will enter into force on May 1, 2021 and expand the context of branchless digital banking services.

i. Remote Identification

General Principles of the Process

The remote identification process will be carried out by and between the bank personnel ("Customer Representative") and the real person or real person merchant customer to be identified remotely, through online video conferences and communications with each other, without the necessity of physical presence of the parties.