Renault, the iconic French automotive giant founded in 1899 by Louis Renault, has become synonymous with cars, yet its reach spans across all facets of the automotive industry—from trucks and tanks to agricultural machinery and airplane engines. One of the lesser-known but powerful arms of the 122-billion-euro Groupe Renault is RCI Banque, a financial institution created in 1974 to support dealership financing and manage the European cash flow for Renault’s automobile production. As of the last reported data, RCI Banque provided 17.8 billion euros in new financing in 2020, with 4.6 million service agreements including insurance products.
RCI Banque: A Financial Powerhouse with 58 Billion Euros in Assets
With nearly 4,000 employees, RCI Banque stands as one of Europe’s top automotive asset-backed securities issuers, boasting 58 billion euros in assets and over 1 billion euros in profits. Now, in a strategic move to strengthen its presence in Turkey, RCI Banque has announced a significant partnership with POCA Bilişim Teknolojileri AŞ. Together, they aim to establish a robust insurance agency, pending final regulatory approvals, which could bring a fresh dimension to Renault’s financial operations in Turkey.
POCA: Open Banking Pioneer and SuperApp Visionary
Founded in 2021, POCA has emerged as a “SuperApp” designed to meet users’ diverse financial needs, offering services such as money transfers, digital card transactions, bill payments, cash-back campaigns, insurance, and on-demand loans. Supported by United Payment, one of Turkey’s earliest FinTech companies licensed for open banking infrastructure, POCA achieved a milestone in 2024 by facilitating the first digital wallet and interbank money transfer services. Moreover, the brand strengthened its public profile as a sponsor for Fenerbahçe Beko Men’s Basketball Team earlier this year.
With this partnership, RCI Banque is set to leverage POCA’s digital financial solutions, possibly creating a streamlined platform to enhance Renault’s customer experience in Turkey and further solidify its influence in the automotive financial services sector.
