Maja Pawinska Sims 25 Aug 2020 // 11:15AM GMT
LONDON — MHP has been appointed by new high-growth Turkish bank Papara to support its European expansion strategy, after a competitive pitch.
Papara, the biggest fintech in Turkey and the highest-rated fintech app in Europe on App Store and Google Play, offers consumer and business banking services to 4.5 million domestic users. The business is now expanding into new markets as part of its ambition to become a leading challenger bank, starting with Lithuania and Germany, followed by other European markets with a high population of Turkish immigrants.
The Engine group agency will work with Papara to build the brand’s profile, focusing on its growth, its operating model and its customer proposition and products, including its innovative pricing structure, where fees are waived for around 90% of consumers and most fees are taken from high volume commercial clients.
Papara CEO Ahmed F. Karsli said: “We believe that the UK, as an international media hub, is the ideal location from which to tell our European story. We chose Engine MHP based on the team’s deep knowledge in the fintech space and their understanding of our positioning and ambition. We look forward to working with them at this crucial time in our growth.”
The account will be led by Nick Woods, head of financial services at MHP, who said: “We are thrilled to be appointed at this exciting point in Papara’s journey as the business embarks on its European expansion. With a phenomenal domestic track record and a strong platform for further growth, this win is another example of us working with forward thinking businesses that are changing the face of financial services.”
Papara joins other high-growth technology clients at the agency, such as cryptocurrency platform Coinbase; global payments firm Klarna and Airbus-owned Skytra.