Fibabanka, a player in Türkiye’s banking sector, has completed its next step as it launches its Banking as a Service (BaaS) platform by partnering with GetirFinans, the tech firm. Businesses will find it easier to integrate financial solutions into their own offerings using the platform.
The partnership with GetirFinans is the first use case for Fibabanka’s BaaS model. Through the GetirFinans, integrated within the Getir, application, users can now access a range of banking services. This includes account management, card issuance, and payment options, directly from the app. By leveraging Fibabanka digital infrastructure, GetirFinans is able to offer these services without needing a banking license. All the while it is able to maintain focus on its core operations.
Fibabanka’s launch of the BaaS model is just the beginning of its journey. The bank plans to expand its offerings across more industries in the near future. With its technology-driven approach and commitment to innovation, Fibabanka aims to provide solutions that benefit both businesses and their customers.
“We are proud to be at the forefront of this shift in the banking landscape,” said Ömer Mert, general manager and member of the board of directors at Fibabanka. “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.”
How it works
With more than 500 APIs powering its platform, Fibabanka’s BaaS solution enables businesses to incorporate financial services into their operations. It opens the door to cost-effective and streamlined service delivery. Non-bank organisations, from large retailers to fintech startups, can use Fibabanka’s BaaS platform to meet rising customer expectations for integrated, convenient financial solutions.
Fibabanka’s BaaS model is designed to drive financial inclusion by making banking services more accessible to a wider audience. By working with partners like GetirFinans, the bank is extending its reach beyond traditional banking channels, offering innovative solutions that cater to the changing needs of consumers and businesses alike.
It also provides significant operational benefits to partner organisations, reducing the costs and complexity typically associated with offering financial services. By managing the backend processes that require a banking license, Fibabanka enables businesses to focus on growth and customer experience.
Mert concluded: “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.”
