Fibabanka Launches Turkey's First BaaS Platform with GetirFinans

In October 2024, Fibabanka, a digital bank operating in Turkey, launched what it describes as the country's first Banking-as-a-Service platform. The platform's inaugural partner is GetirFinans, a fintech startup associated with the Turkish rapid delivery ecosystem. Fibabanka's BaaS platform is designed to allow fintechs and other businesses to embed banking services into their own products by leveraging Fibabanka's banking license and infrastructure.

The launch represents a notable development for the Turkish financial services market, which has been growing its fintech ecosystem but has lacked dedicated BaaS infrastructure from domestic banks. By positioning itself as a pioneer in Turkish BaaS, Fibabanka aims to attract additional fintech partnerships. Specific financial terms and detailed product capabilities were not disclosed in the initial reporting.

The partnership with GetirFinans suggests an initial focus on embedded financial services for commerce and delivery platforms.