Fibabanka has announced the launch of Türkiye’s first-ever Banking as a Service (BaaS) platform in partnership with GetirFinans, revolutionising financial services for businesses. The platform is poised to expand across industries, with the UK being the first international destination.
As a leading name in Türkiye’s banking industry, Fibabanka has collaborated with GetirFinans, which secured $70 million in investment last year and reached a valuation of $250 million. This partnership allows businesses outside the banking sector to integrate financial services efficiently, forming part of Fibabanka’s broader strategy to expand its BaaS platform.
Fibabanka’s technology-driven BaaS platform allows businesses to integrate banking services into their platforms seamlessly, positioning the bank as a leader in Türkiye’s financial market.
Transforming Financial Services Integration
The partnership with GetirFinans marks the first practical application of Fibabanka’s BaaS platform. Integrated within the Getir app, GetirFinans allows users to access a variety of financial services, including account management, card issuance, and payments, all without the need for a banking licence. Fibabanka’s digital infrastructure powers these services, enabling GetirFinans to focus on core business operations.
Fibabanka’s platform, powered by more than 500 APIs, enables businesses to incorporate financial services effortlessly, offering a cost-effective and efficient solution. Companies across a wide range of industries can use the platform to meet customer demand for integrated financial solutions.
Ömer Mert, General Manager and Member of the Board of Directors at Fibabanka, emphasised the significance of the platform: “As consumer expectations around financial services evolve, businesses are seeking ways to offer seamless and integrated experiences through their own platforms. Our Banking as a Service model responds directly to these demands by enabling businesses outside the banking sector to access financial infrastructure easily. The GetirFinans collaboration is just the first step, and we look forward to expanding our platform further to meet the needs of various industries and countries.”
Expanding Financial Inclusion
Fibabanka’s BaaS platform is designed to promote financial inclusion, making banking services more accessible to a wider audience. Through partnerships with organisations like GetirFinans, Fibabanka is offering innovative solutions that go beyond traditional banking channels.
The platform also provides significant operational advantages to partner companies, reducing the costs and complexities associated with providing financial services. By managing the backend processes requiring a banking licence, Fibabanka enables businesses to focus on customer growth and satisfaction.
The Future of Digital Banking
Fibabanka’s BaaS platform launch represents the start of a broader initiative to reshape financial services. The bank plans to expand its platform across industries and countries, using technology-driven solutions to benefit both businesses and customers alike. By leading the way in innovation, Fibabanka aims to set new standards in the financial services sector.
“We are proud to be at the forefront of this shift in the banking landscape,” Mert added. “As the destination for BaaS in Türkiye, Fibabanka will continue to build on this model, offering new collaborations that meet the needs of our partners and their customers. Our mission is to redefine the boundaries of digital banking through innovation, and this is just the first of many milestones we intend to achieve.”
