Fimple and Algorithm Launch New SaaS Digital Banking Platform in Azerbaijan

Fimple, a specialist in banking and financial technologies, and Algoritma, a fintech company offering core banking, digital lending, payment infrastructure and digital wallet solutions, have joined forces in Azerbaijan to accelerate the digitalization of the financial sector.

Thanks to this partnership, financial institutions will be able to start operating as digital banks within just a 4-6 weeks. The next-generation platform, which combines Fimple’s modern core banking infrastructure with Algoritma’s payment, wallet, card, and PSP services, provides comprehensive solutions, particularly for banks, microfinance institutions and fintechs.

The platform offers features such as customer, account, and loan management modules, BNPL products, card infrastructure, digital wallet and payment systems, as well as advanced security services. In addition, it enhances user experience with digital onboarding, AML/KYC compliance, microloans, virtual cards, loyalty programs, and real-time monitoring capabilities. Moreover, it operates as a fully SaaS-based solution, compliant with regulations and certified with PCI DSS, ensuring the highest standards of data security and reliability.

Oğuzhan Yılmaz, Fimple’s Country Manager for Azerbaijan, commented on the partnership:
“Our goal is to empower banks, fintech, and microfinance institutions in Azerbaijan by removing the barriers to digital transformation. Together with Algoritma, we have developed a solution that enables institutions to become digital banks not in months, but in just weeks—bringing significant value to the sector through speed, flexibility, and cost efficiency. We take pride in delivering Azerbaijan’s fully regulatory-compliant SaaS digital banking solution.

Ziya Sadıkhov, CEO of Algoritma, added:
“By combining our experience in payment technologies with Fimple’s core banking infrastructure, we are enabling financial institutions to deliver more innovative and secure services. With this partnership, we are building the future of digital finance in Azerbaijan together.”

The parties announced that they will initially focus on banks, fintech, and microfinance institutions, aiming to expand the solution’s reach across the broader financial ecosystem in the next phase.