Turkish bank Fibabanka won silver in the Distribution category at the Qorus Reinvention Awards – Europe 2024 with ‘Alışgidiş (Get and Go)’. Gökhan Ertürk, Deputy General Manager of Ecosystem and Platform Banking at Fibabanka, tells us more about their winning project that combines a Buy Now, Pay Later (BNPL) facility with a digital shopping mall, and he also tells us about his pride in this team accomplishment.
Can you introduce yourself and tell us more about your role at Fibabanka?
I am Gökhan Ertürk, serving as the Deputy General Manager of Ecosystem and Platform Banking at Fibabanka. Fibabanka achieved a first in Turkey by successfully meeting consumers' shopping expectations and financing needs under the name of Ecosystem and Platform Banking on a single platform, becoming one of the prominent brands of the BNPL (Buy Now, Pay Later) system in Turkey. This was accomplished through agreements with leading national brands in Turkey and integration with their extensive dealer networks. To contribute to our digitalization vision for the future, we decided to restructure within the Ecosystem and Platform Banking Group. This structure includes directorates with different focuses and areas of expertise, thus strengthening our goal of capturing and leading the changing digital agenda in the industry. As the Ecosystem and Platform Banking Group, pioneering in the sector with our organizational structure, we continue our efforts to be a leader in next-generation payment systems.
What made you most proud of the ‘Alışgidiş (Get and Go)’ project? What was your greatest achievement in making it happen?
Alışgidiş offers consumers the opportunity to make purchases at cash prices with zero interest and with installment options up to 36 months, without the need for credit cards, without being limited by card limits, and without visiting the bank. I am extremely proud of Alışgidiş being the first BNPL brand in Turkey and the pioneer implementer of the consumer finance model known worldwide as 'Buy Now, Pay Later'. Our biggest contribution to this success was not only our customer-focused approach but also the dedication and determination of our team. We demonstrated the power and belief in working together to understand our customers' needs and provide them with the best solutions. Therefore, with Alışgidiş positioned as one of Turkey's leading BNPL brands, I am fully confident that we will continue our successes in the future with the same excitement and determination.
What is the most important thing you would tell someone considering embarking on a similar project?
They should have a clear vision of the project's needs and objectives. At the beginning of the project, defining its goals and expected outcomes will ensure its successful progression. Additionally, it is important to allocate the necessary resources (human, financial, technological, etc.) correctly to ensure the project's success. Finally, flexibility and adaptability can impact the project's success, so designing the project to adapt to different scenarios is important.
Fibabanka reinvents consumer finance by taking the bank where the customers are
What's coming next for the ‘Alışgidiş (Get and Go)’ project?
Today, with ‘Alışverişin Akıllı Yolu Alışgidiş’ (Smart Way of Shopping Alışgidiş), our customers can buy everything they dream of in a wide range of sectors, from electronics to household appliances, from furniture to small home appliances, at more than 12,000 physical points of sale belonging to 56 brands in 15 sectors and more than 120 online brands (such as Hepsiburada, Trendyol, etc.). We provide nearly 120,000 credits monthly through all our sales channels. Our goal is to reach 25,000 Alışgidiş points and provide financing of TL 175 billion to 10 million consumers within three years.
What would you say to companies that might consider entering the 2024 Banking Innovation Awards?
I recommend focusing on developing innovative and user-centered solutions and prioritizing customer experience. Additionally, I emphasize the importance of establishing partnerships and strong collaborations in the industry for success. Participation will not only enhance companies' corporate image but also provide an opportunity to closely follow the industry and ensure continuous improvement.
What does this award mean to you and your innovation team?
This award is an expression of the recognition of our and our innovation team's efforts at the international level. The award we received as a result of the innovative solutions we offer with Alışgidiş and our customer-focused approach motivates us even more, bringing us closer to our goal of making further progress in our future projects. The importance of the award is further enhanced by the groundbreaking convenience and financial solutions that Alışgidiş provides to consumers. It supports us in continuing the same success and achieving our goal of being a pioneer in innovation in our future projects.
