Azerbaijan Banks Association Elaborates On Cooperation With Fintech Companies
(MENAFN- Trend News Agency) BAKU, Azerbaijan, September 6. Flexible and
dynamic fintech in terms of financial accessibility should provide
services that will meet the needs of customers, said Tamerlan
Rustamov, deputy director of the Payment Systems Department of the
Bank of Baku and head of the expert group on payment systems and
digital banking of the Azerbaijan Banks Association (ABA) at the
Azerbaijani-Turkish Fintex Forum, Trend reports.
"In Azerbaijan, fintech companies are both competitors of banks
and also partners. Banking fintechs always need to ensure the
security of funds and access to payment systems. If you look at it
from the bank's point of view, there is always a need for more
dynamic and flexible fintech to provide the bank's services to a
wider audience faster and at lower costs," he said.
According to him, with this approach, the bank can cooperate
with fintech and provide its products and services through it
without incurring additional costs.
As of today, more than 30 fintech companies operate in
Azerbaijan.
The first Azerbaijani-Turkish Fintex forum is being held in
Azerbaijan today, on September 6. The second part of the forum will
be held in November and December this year in Istanbul.
The aim of the forum is to strengthen business ties between the
participants of the fintech ecosystems of Azerbaijan and Türkiye,
assess potential opportunities for cooperation, and create
effective synergy between the two brotherly countries in the field
of innovative financial technologies as well as in other areas.
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