RUUT, a new digital banking brand is set to enter the UK market following a strategic partnership between British and Turkish fintechs Algbra Labs and Moka United.
Moka, a subsidiary of İşbank, one of the largest banks in Turkey, will launch the new banking brand with Algbra, a fintech-as-a-service company that will power RUUT through its tech stack.
The partnership was agreed as part of Moka United’s international expansion plans and the broader goal of İşbank to provide tech-focused financial services beyond Turkey.
“RUUT is an exciting digital banking initiative, and we are delighted to provide the platform infrastructure to support its UK launch,” said Zeiad Idris, chief executive of Algbra Labs.
“This collaboration reflects the growing demand for values-led, high-compliance, and scalable financial technology.”
The two firms also hope to expand the UK-Turkish financial corridor, which currently facilitates over £28bn in annual trade and remittance.
“This partnership with Algbra Labs is a strategic milestone in our journey to expand globally,” said Moka United and RUUT chief executive Halim Memiş.
“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.”