Fibabanka and GetirFinans Collaborate to Launch Türkiye’s First BaaS Platform

In an innovative partnership, Fibabanka and GetirFinans have launched Türkiye’s first Banking as a Service (BaaS) platform, enabling businesses to offer financial services more seamlessly. The platform is expected to expand internationally, starting with the UK.

Fibabanka, a prominent institution in Türkiye’s banking sector, has joined forces with GetirFinans, which received $70 million in investment last year, valuing the company at $250 million. This partnership allows businesses outside the banking industry to integrate financial services into their platforms efficiently. It is part of Fibabanka’s strategy to broaden its BaaS offering to various industries.

Fibabanka’s technology-driven platform allows businesses to incorporate banking services effortlessly, positioning the bank as a key innovator in the Turkish financial landscape.

Revolutionising Financial Integration

The collaboration with GetirFinans marks the first use of Fibabanka’s BaaS platform. By integrating GetirFinans into the Getir app, users can now access a variety of banking services, including account management, card issuance, and payments, without requiring a banking licence. Fibabanka’s digital infrastructure powers these services, allowing Getir to focus on its core operations.

Fibabanka’s platform, backed by more than 500 APIs, enables businesses to seamlessly integrate financial services, offering a cost-effective solution to meet customer expectations. From retailers to fintech companies, organisations can utilise this platform to provide integrated financial services.

Ömer Mert, General Manager and Member of the Board of Directors at Fibabanka, emphasised: “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 Services Access

Fibabanka’s BaaS platform is designed to enhance financial inclusion by making banking services more accessible. Through partnerships like GetirFinans, Fibabanka is extending its reach beyond traditional banking channels to meet the evolving needs of businesses and consumers.

The platform provides significant operational benefits to partners by reducing the costs and complexities associated with offering financial services. By handling the backend processes that require a banking licence, Fibabanka enables businesses to focus on growth and customer experience.

Looking Ahead to the Future

Fibabanka’s BaaS platform launch marks the beginning of a larger strategy. The bank plans to extend its digital banking services to a wider range of industries and countries, using cutting-edge technology to drive innovation. Fibabanka aims to redefine the standards in financial services, benefiting both businesses and customers.

“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.”