We simplify legal reporting processes

Introduction

In Türkiye, TCMB-licensed payment services and electronic money institutions are required to regularly produce various reports. Given the operational workload of payment services and the regulatory intensity of the legislation, the already limited profitability imposes a heavy additional burden and responsibilities on companies in the face of high costs and difficulties to fulfill new reporting requirements.

Reporting

The content of reports generated by TCMB-licensed institutions is generally similar. The primary difference lies in the data compilation phase. Once data is compiled and verified, the legal authorities define the nature of the reporting content, making it natural for reports to be similar. In the current ecosystem, as each institution has its own software platform, and legal reporting requirements often emerge later, institutions must design the operational and technical infrastructure necessary to prepare their reports.

However, this is not the main area of expertise for many companies, and it can become an overly complex process for firms that do not write the software themselves, leading to issues such as failure to meet legal demands on time.

Value Proposition

At Recon Technology, we saw a potential commercial value in this area and developed a low-cost, high-value legal reporting product for companies. Our product is currently used for the BTRANS notifications required by the Revenue Administration. It meets technical and legal requirements, offers flexible integration alternatives with your data, and can be deployed on-premise or on cloud infrastructure compliant with financial regulations.

Due to its modular structure, it can be added as an additional legal reporting module without affecting your existing workflows and integrations.

Quality

Our product’s controls and software testing phases are carried out comprehensively, allowing for smooth operation from the very beginning.

With our team’s banking and fintech experience, accurate processing of high volumes of financial data, design of services capable of operating under load, and preventative engineering approaches toward potential issues provide a significant advantage.

Conclusion

We aim to contribute to the financial ecosystem and help payment services and electronic money institutions focus on their core business. You can use the BTRANS reporting module with confidence and at the best possible cost. For more information, please contact us.