Payten's payment facilitator Paratika, won the Innovation in Payments award at the BAI Global Innovations Awards, organized by the US-based BAI (Bank Administration Institute). BAI is a mission-driven non-profit organization which has contributed greatly to the development of the global banking and finance industry for over 90 years. Now in its 12th year, the BAI Global Innovation Awards is the financial services industry’s leading innovation honor, celebrating organizational achievements, such as pursuing bold solutions for leveraging customer insights; implementing new powerful technologies; or improving the lives of employees, customers, clients and/or communities.
Paratika is awarded for its Equity-Based Crowdfunding Online Payment Infrastructure project, which previously also won the Gold PSM, MPE, and Silver Stevie awards.
Paratika has developed an out-of-the box secure online marketplace payment infrastructure for Turkey’s-first national Equity-Based Crowdfunding Project to manage all online investments. One of the biggest challenges entrepreneurs face is raising funding for their promising companies. Crowdfunding is one of the best ways to provide the entrepreneurs with funding by bringing investors and the start-ups together on online funding platforms enabling innovative products/entrepreneurs to receive funding quickly and easily from large number of investors. Within the scope of the project where government institutions, funding platforms, and Paratika collaborated, all investments made via credit cards today are processed by the Paratika infrastructure.