Banking Association of Georgia

What Banking Association of Georgia does

The Banking Association of Georgia (საქართველოს საბანკ� ასოციაცია) is a non-profit industry association established in 2018 and headquartered in Tbilisi that represents the 14 commercial banks operating in Georgia. It functions as the collective voice and coordination body for the Georgian banking sector, engaging with the National Bank of Georgia on policy, open banking implementation, digital payment services, and cybersecurity, and convening members through FINTEX events, training programs, and monthly industry analytics. The association maintains an active public profile through its website (association.ge), social media channels, and a cybersecurity awareness program aimed at both banks and consumers.

The association's most notable technical asset is the openfinance.ge platform, an Open Banking / Open Finance infrastructure that enables secure data sharing between Georgian banks and authorized third-party financial service providers. Beyond the platform, its operational outputs include monthly banking sector reports, international study visits, ESG and sustainable finance programming delivered in partnership with the IFC and the Sustainable Banking and Finance Network (SBFN), and a recurring cybersecurity advisory series addressing consumer fraud and emerging technology risks.

The business model is a membership-fee-funded non-profit structure with no publicly disclosed pricing. Members are simultaneously the association's customers, board, and revenue base, and there is no evidence of commercial monetisation of the openfinance.ge platform to external parties. Distribution occurs primarily through the member bank network and the association's digital channels, with partnerships extending to international institutions such as Fitch Ratings, the IFC, the British Embassy, and banking sector representatives from Azerbaijan.

Name

Banking Association of Georgia

Legal name

საქართველოს საბანკო ასოციაცია

Website

https://association.ge

Company type

Private

Founded year

2018

Operating status

Operating

Headcount range

51–100 employees

Short description

The Banking Association of Georgia is a non-profit industry association representing all 14 Georgian banks, coordinating policy and open banking infrastructure (openfinance.ge), publishing monthly sector analytics, and delivering cybersecurity and ESG programming with international partners.

Ownership category

akta.pro rank

Headquarters

HQ city

Tbilisi

HQ country

Georgia

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Others

Distribution channels1 record

Marketing channels3 records

Core offering

The Banking Association of Georgia is a non-profit industry body that represents 14 Georgian banks, providing policy coordination, industry research, training, and the Open Banking/Open Finance platform (openfinance.ge) that enables secure data sharing between member banks and financial service providers. It also delivers cybersecurity awareness campaigns and hosts banking industry events.

Product overview

The Banking Association of Georgia serves as the industry body for Georgian banks, operating primarily as an advocacy and coordination organization. Its core offering is the Open Banking (Open Finance) platform accessible at openfinance.ge, which facilitates secure financial data sharing across the Georgian banking ecosystem. The association also publishes monthly banking sector reports and provides cybersecurity advisory services to members and the public.

Differentiator

Problem solved

Functional benefit

Products and services

• Open Banking (Open Finance) Platform

Segments1 record

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Eight partnerships are on record, tiered minor and core.

• Fitch RatingsminorOthers · 2 December 2025Fitch Ratings, an international credit rating agency, improved its forecast for Georgian bank ratings, indicating positive assessment of the Georgian banking sector's stability and prospects.
• BKN301minorStrategic or Co-development Partner · 13 October 2024British fintech company BKN301 held an event on innovative digital payment services in Georgia and the region with support from the association, National Bank of Georgia, Fintech Association, and British Embassy.
• Azerbaijan Banking Sector RepresentativescoreStrategic or Co-development Partner · 15 April 2024The Banking Association of Georgia hosted a study visit for representatives of Azerbaijan's banking sector on April 29-30, facilitating knowledge exchange and regional banking cooperation.
• International Finance Corporation (IFC Europe & Central Asia)coreStrategic or Co-development Partner · 7 March 2024IFC partnered with the association and Sustainable Banking and Finance Network (SBFN) to host an event on sustainable finance and ESG topics, with collaboration through Switzerland's State Secretariat for Economic Affairs (SECO).
• National Bank of GeorgiacoreOthersThe central bank collaborates with the association on open banking initiatives, digital payment services development, and industry events.
• Fintech Association of GeorgiaminorStrategic or Co-development PartnerCollaborates with the association on fintech-related initiatives including digital payment services and innovation in the Georgian financial sector.
• British Embassy GeorgiaminorGTM or Marketing PartnerSupported the BKN301 event on innovative digital payment services, indicating diplomatic and trade promotion cooperation.
• Sustainable Banking and Finance Network (SBFN)minorStrategic or Co-development PartnerInternational network partnered on sustainable finance and ESG topics, hosting joint events with IFC and the association.

Recent moves5 records

Expansion highlights4 records

Direct peers

• UK Finance: UK banking trade association representing ~300 firms, providing advocacy, policy coordination, and industry infrastructure. Comparable to the Banking Association of Georgia as a member-driven industry body that runs sector-wide initiatives and convenes regulators.
• FinTech Association of Georgia: Local Georgian fintech industry association that collaborates with the Banking Association of Georgia on joint events. Comparable as a domestic industry body in adjacent financial services.

Others

• Sustainable Banking and Finance Network (SBFN): Global network of banking associations focused on sustainable finance and ESG. Comparable as a convening and standard-setting body, and a direct partner of the Banking Association of Georgia.

Broad incumbents

• American Bankers Association: Largest US banking trade association, advocating for the industry and providing training, research, and cybersecurity resources. Comparable function as a banking association with advocacy, training, and sector analytics offerings.
• European Banking Federation: Umbrella federation for European national banking associations. Comparable as a coordinating body, with the Banking Association of Georgia interacting with European counterparts through IFC/SBFN programs.
• Banks Association of Turkey: Turkish banking trade association representing the country's banks, providing policy advocacy and sector statistics. Comparable regional emerging-market association with similar convening and reporting functions.

Regional players

• Association of Banks in Bulgaria: Bulgarian banking trade association involved in EU-aligned regulatory dialogue and sector analytics. Comparable as an emerging-market European banking association with similar advocacy and reporting scope.
• National Association of Banks of Armenia: Armenian banking trade association with regulatory advocacy and member coordination roles. Directly comparable Caucasus-region peer with similar institutional mandate.
• Azerbaijan Banks Association: Trade association for Azerbaijani banks, focused on industry coordination and regulatory dialogue. Closest geographic peer, with the Banking Association of Georgia already hosting Azerbaijan delegations for study visits.
• Croatian Banking Association: Croatian banking industry association providing policy coordination and member services. Comparable smaller-economy European banking association with similar scope of activities.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/banking_georgia
• Facebookfacebook.com/bankingassociationofgeorgia
• LinkedInlinkedin.com/company/banking-association-of-georgia
• Instagraminstagram.com/bankingassociation/?utm_source=ig_profile_share&igshid=1vp2dwrk6t1cx

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

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M&A

Investments

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Frequently asked questions about Banking Association of Georgia