London-headquartered fintech-as-a-service (Faas) platform Algbra Labs has partnered with Moka United, the fintech subsidiary of Turkey’s İşbank, to support the UK launch of Ruut, a digital banking brand.
“Powered by Algbra Labs’ full-stack FaaS platform, Ruut will offer a seamless, secure, and scalable digital banking experience to customers in the UK,” stated the provider.
Under the agreement, Algbra Labs will provide the partner banking infrastructure enabling RUUT to operate client accounts, launch customer-named accounts as an authorised electronic money distributor, and move towards becoming a fully licensed electronic money institution in the UK.
Evolving Transfer agency for digital age
The rollout is expected within six months.
Zeiad Idris, CEO of Algbra, commented: “We are proud to partner with Moka United, the fintech arm of Türkiye’s most established bank. Ruut is an exciting digital banking initiative, and we are delighted to provide the platform infrastructure to support its UK launch. This collaboration reflects the growing demand for values-led, high-compliance, and scalable financial technology.”
Halim Memiş, CEO of Moka United and Ruut, said: “This partnership with Algbra Labs is a strategic milestone in our journey to expand globally. Through Ruut, we aim to deliver inclusive, user-friendly, and trusted digital banking experiences — beginning in the UK. Algbra’s technological excellence and shared ethical approach make them the ideal long-term partner.”
