FINCA Bank Georgia delivers compliant API Platform using Open Bank Project


At the end of 2020, the National Bank and the Banking Association of Georgia published the Georgian open banking standard, modelled on Berlin Group specifications and requiring financial institutions to quickly comply with the first phase by March 31 2021.

FINCA Bank Georgia has been a leader in promoting financial inclusion through innovative and sustainable solutions. It’s for this reason that FINCA Bank saw the arrival of Open Banking in Georgia not as an obligation but an opportunity to advance and start offering the next generation of FinTech solutions to their customers to improve their standard of living.


After determining the requirements and potential challenges of the project, FINCA Bank Georgia realised the need to partner with a qualified Open Banking vendor and adopt battle-tested solutions. TESOBE’s local partner Sweeft Digital, a determined innovator in digital technologies, successfully presented the OBP solution to FINCA Bank, who chose it to comply with the Georgian Open Banking Standard and set the groundwork for sustainable growth beyond compliance.

How TESOBE Helped

FINCA Bank Georgia’s main objective, in addition to complying with regulation, was to launch an API platform with a suite of tools that enable FinTech developers to build innovative applications. But first, FINCA Bank would have to ensure compliance with the information security recommendations of the Georgian Open Banking standard, which is modelled on the European Berlin Group standard. TESOBE proceeded to develop APIs in compliance with the Georgian standard, which presents additional restrictions compared to European NextGenPSD2.

The main challenge was implementing an emerging open banking standard, which presents many deviations from the original Berlin Group specification, within a significantly tight deadline. Nonetheless, FINCA Bank Georgia was flexible and adaptable throughout the implementation, which was performed with no major surprises or difficulties.


Despite the time constraints, FINCA Bank and TESOBE managed to adhere to an ambitious timeline and deliver a compliant API platform with a suite of tools for third-party developers to create innovative and customer-centric financial applications.


We are not intending to just comply with the regulation, we want to go beyond, improve our competitive position and further speed digitization in the competitive market versus the larger financial services players. That’s one of the reasons why we chose TESOBE’s Open Bank Project – the platform’s features extend well beyond the local regulatory requirements and it provides valuable capabilities and broad APIs that we can use to reach our ambitious business goals. We feel very confident about our Open Banking programme and partnership with a leading European open banking player, so we are looking forward to continuing the fruitful collaboration with TESOBE.

Irakli Elashvili

Irakli Elashvili

CEO of FINCA Bank Georgia



This is the first in a series of successful Open Banking implementations. The project with FINCA Bank is evidence that our collaboration can support Open Banking in Georgia and accelerate implementation across the entire financial services industry

Vako Turnava

Vako Turnava

CEO of Sweeft Digital


FINCA Bank Georgia’s API Platform is live for third parties to start building and testing FinTech applications and services that will benefit FINCA Bank’s customers in Georgia. TESOBE will continue being FINCA Bank’s partner to satisfy the upcoming regulatory requirements and support the bank in unlocking future Open Banking opportunities.


For more information on Open Bank Project or if you would like us to help you assess your API initiative or accelerate your compliance project, please contact us at: | @OpenBankProject | | +49 (0)30 8145 3994

About TESOBE and the Open Bank Project

TESOBE is a banking consultancy firm founded in Germany in 2006 to advocate for the use of open source and open data to affect positive global change. TESOBE founded the Open Bank Project – the leading open-source API solution for banks – in early 2010. Since then, TESOBE has assisted regulators and banks around the world in executing effective API strategies by providing a unique blend of tools, expertise and thought leadership. 

About FINCA Bank

Founded in 1998, FINCA Bank Georgia is part of the FINCA Impact Finance Network, a group of 20 microfinance and financial institutions that provides socially responsible financial services and enables low-income entrepreneurs and small business owners to invest in the future.

The National Bank of Georgia

The National Bank of Georgia (NBG) is the central bank of Georgia and exercises supervision over the financial sector for the purposes of facilitating financial stability and transparency of the financial system, as well as for protecting the rights of the sector’s consumers and investors.

Banking Association of Georgia

The Banking Association of Georgia is a non-commercial legal entity which combines all banks and financial-crediting organizations acting in Georgia. It aims to make dialogue in the banking sector more dynamic and to protect the interests of commercial banks acting in Georgia.

About Sweeft Digital Agency

Sweeft Digital is an innovator in digital technologies, constantly seeking out innovation and best solutions. The Sweeft mission is to make digital technologies available.