Hedef Investment bank, which obtained an establishment permit for investment banking in the middle of last year from the Banking Regulation and Supervision Agency, selected the Fimple platform, which develops innovative digital finance applications and offers them to the global finance sector via cloud systems with a SaaS approach, as its banking infrastructure.
Hedef Holding, which has more than 20 years of experience in the finance sector, is starting its banking activities to spread the value it brings to the sector to a wider audience with modern business models. Hedef Investment bank aims to become a platform in the field of next-generation investment banking and to make a name for itself in the sector with its claim.
Hedef Holding has signed an agreement with Fimple, which has the most up-to-date technological platform as its banking software infrastructure, for Hedef Investment Bank, established to realize its innovative vision and bring a brand-new perspective to the industry.
Hedefbank Chairman of the Board, Dr. Namık Kemal Gökalp, stated that Hedef Investment Bank, which aims to be a strong representative of global markets in the finance sector, one of the locomotive industries of the Turkish economy, will carry out its mission to create sustainable value for all stakeholders with its technological infrastructure, the power of its group companies and partners, its experience in financial services and innovative solutions, as well as its knowledge and experience in local and international markets. After a comprehensive preparation and planning process, our bank will operate with expert bankers in their fields and has set out to bring a different breath to investment banking in parallel with the changes in the world. In line with our strategies in the upcoming period, Fimple will continue to be an important business partner in our activities aimed at creating sustainable value for the Turkish economy and all our stakeholders.
“Fimple provides cost advantage and fast installation opportunity with its innovative technology.”
Dr. Mücahit Gündebahar, CEO of Fimple, expressed his pleasure in being among the priority institutions for newly established banks and financial institutions when deciding on their infrastructure technologies. He stated that Fimple’s fully definition-based SaaS core banking platform designed with Microservice architecture provides a modern platform for banks, consumer and supplier finance companies, investment banks, digital banks, service banking providers, and credit institutions. Additionally, Gündebahar stated that the Fimple platform’s monthly membership model and “fair” licensing model, which is structured as pay-as-you-use, will prevent newly established or limited customer banks and financial institutions from being exposed to the initial investment costs required by traditional systems.
“We speed up the ‘operational approval’ processes of banks”
Gündebahar also said, “As Fimple, we want to mention that we seriously speed up the journey of newly established banks and financial institutions, especially during their journey until they become operational, by providing them with a smooth and agile companionship.”
Cloud-Based Private Banking Software Comprised Entirely of APIs
Gündebahar, who stated that the Fimple platform is a private banking software consisting of many fundamental components, continues his words as follows: “Today, the most important weapon of a bank in competition is its ability to integrate with external institutions and meet service banking business models. At this point, Fimple provides the financial institution and ecosystem with the abilities to develop new products and create new business models with its API-first approach and software development kits (SDKs) positioning. There are currently more than 2100 financial APIs in the system, and we anticipate hosting more than 4,000 Financial APIs by the end of 2023.”
Fimple Financial Solutions Ecosystem
Gündebahar, who states that Fimple not only develops products but also creates a platform with their main banking system and vertically specialized business partners, continues his words as follows: “In traditional approaches, we used to solve all the needs of banks with a single software system. Although such systems provide some advantages, they lose their sustainability and innovativeness characteristics in the long run, as they have serious challenges in terms of self-renewal, moving away from vertical specialization, and operational issues. Fimple offers an ecosystem with not only the main banking system but also a family of expert subsystems that work integrated with the modern banking platform on its marketplace. Thus, the (vendor locking) syndrome we see in many product groups in traditional approaches is eliminated.”