In collaboration with GetirFinans, Fibabanka has launched Türkiye’s first Banking as a Service (BaaS) platform, a breakthrough in financial services integration. The platform is poised for international expansion, with the UK set as its first target market.
As a prominent player in Türkiye’s banking sector, Fibabanka has joined forces with GetirFinans, which raised $70 million in investment last year and was valued at $250 million. This strategic partnership allows businesses outside the banking sector to incorporate financial services into their operations seamlessly, forming part of Fibabanka’s broader vision for its BaaS platform.
Fibabanka’s technology-powered BaaS platform offers businesses an innovative way to embed financial services into their platforms, positioning the bank as a leader in Türkiye’s financial landscape.
Revolutionising Financial Services
The partnership with GetirFinans marks the first practical use of Fibabanka’s BaaS platform. Through GetirFinans, users can access banking services such as account management, card issuance, and payments directly from the Getir app. Thanks to Fibabanka’s digital infrastructure, GetirFinans is able to provide these services without the need for a banking licence, allowing them to focus on core operations.
With more than 500 APIs powering its platform, Fibabanka’s BaaS solution allows businesses to seamlessly integrate financial services, offering a cost-effective and scalable solution. Organisations across industries, from retailers to fintechs, can use this platform to deliver integrated financial services to their customers.
Ömer Mert, General Manager and Member of the Board of Directors at Fibabanka, highlighted the significance of this 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.”
Broadening Access to Financial Services
Fibabanka’s BaaS platform is designed to expand financial inclusion by making banking services more accessible to a wide range of customers. Through partnerships with companies like GetirFinans, Fibabanka is extending its reach beyond traditional banking channels, offering innovative solutions that address the changing needs of businesses and consumers.
The platform also provides operational efficiencies by reducing the cost and complexity associated with offering financial services. Fibabanka manages backend processes requiring a banking licence, enabling businesses to focus on growth and customer experience.
Looking Forward
Fibabanka’s launch of its BaaS platform is the beginning of a larger vision for digital innovation. The bank plans to expand its platform across industries and countries, offering technology-driven solutions that reshape the future of financial services. By leading this transformation, Fibabanka aims to set new standards that benefit businesses and customers alike.
“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.”
