London, United Kingdom, June 28, 2024 (GLOBE NEWSWIRE) — The banking industry has significantly transformed with the adoption of cloud computing technology. Cloud systems offer enhanced flexibility, scalability, and security, reshaping business processes. Following this development, financial institutions are expected to become increasingly digital as they prioritize their customers’ changing needs.
Fimple emerges as a leading cloud-native core banking platform in this developing landscape. It was founded in 2022 to address the pressing challenges faced by financial institutions by leveraging the latest technological advancements. The company offers a composable finance solution equipped with native application programming interfaces (APIs), built on a software as a service (SaaS) architecture and cloud-native microservices.
With Fimple, banks and other financial institutions can develop and reconfigure products and services swiftly, allowing them to cater to their customers and fintech partners. For instance, the Fimple Magic Process Designer enables seamless product and service management to ensure banks remain agile and responsive to market demands. Essentially, the forward-thinking company aims to catalyze advancements within the banking sector by empowering its partners to fully utilize the capabilities of cloud-native solutions.
Dedicated to fulfilling this mission, Fimple has achieved remarkable milestones within a relatively short period since its establishment. It secured 10 core banking customers, attesting to the platform’s effectiveness and market demand. In addition, the company has formed partnerships with over 180 global fintech firms. This number demonstrates its extensive reach.
Pivotal to Fimple’s success is the exceptional leadership of its co-founders, Dr. Mücahit Gündebahar and Abdurrahman Çınar. Both co-founders have a rich history of working in the banking sector. Mr. Gündebahar, once a senior consultant at Microsoft, previously served as the chief information officer at Kuveyt Turk Participation Bank for over a decade, having created a core banking arm within the bank. His tenure in the company provided him with insights into the industry’s technological needs, as well as the limitations of existing systems.
Mr. Çınar worked at the same institution for over six years, holding various positions, from enterprise architect to information technology (IT) service manager. He played a critical role in designing and implementing advanced systems for that core banking arm, including a definition-based reporting system, and managing the card payment systems team.
Fimple was the manifestation of these two visionaries’ desire to create an independent software company that could address the diverse needs of various banks without being tethered to a single financial institution. “We established Fimple to break free from the limitations imposed by traditional banking systems,” says the co-founders. “We envisioned a modular, cloud-native platform that could empower financial institutions to innovate and adapt swiftly.” As they recognized the constraints of siloed systems prevalent in the market, they made it their mission to help financial entities adapt and innovate without overhauling their entire infrastructure.
Fimple assists financial institutions to achieve their goals through a plug-and-play ecosystem. It enables banks to transform their infrastructures, freeing them from expensive and rigid systems. The cloud-native banking platform is fast, flexible, and user-friendly. This translates to businesses being able to change, build, and grow with ease.
Meanwhile, Fimple’s composable banking platform enables effective and lower-risk transformation into a future-ready banking system. Its simple setup allows financial institutions to get started in a matter of months. They can combine business systems, scale their business, and expand into new products and markets to gain a competitive advantage and stay ahead of the competitive landscape.
It’s worth noting that Fimple also supports fintech companies in redefining financial inclusion and service delivery. It acknowledges the challenges within the industry related to legacy technology, agility, and resource constraints. Therefore, Fimple enables fintech companies to deliver financial services directly at the point of need without extensive IT infrastructures or internal skill sets through its open architecture. The innovative company assists banks, retail brands, and their customers via the provision of banking as a service (BaaS) capabilities to expand financial services to a broader range of users.
Ultimately, Fimple positions itself as a reliable partner for companies desiring to transform their infrastructures, enhance customer experiences, and stay competitive in the changing landscape. With its innovative offerings, it is bound to shape the future of digital banking. It looks forward to broadening its geographical footprint by bringing solutions to financial institutions worldwide.
Media Contact
Name: Kenan Ayhan
Email: kenan.ayhan@fimple.co.uk
