BAKU, Azerbaijan, November 30. One of the advantages of open banking is new opportunities for consumers and business, said Vice President, Regional Manager Central Asia and Azerbaijan at Visa Cristina Doros during the panel Open Banking and APIs: Ensuring Secure Data Exchange and Innovation in Payments" at the InMerge Innovation Summit in Baku, Trend reports.
"Open banking has compelling benefits: secure data exchange, privacy, and creating additional value for customers. The technology also helps to make processes more efficient, collect more data, and analyze it, including with the help of artificial intelligence. Open banking will expand financial inclusion, which will open new opportunities for further development of the financial sector in Azerbaijan," she emphasized.
InMerge, considered the largest innovation summit in the region, is designed to bring together leading companies, startups, and investors to discuss the topic of innovation and possible collaborations.
The summit is taking place in Baku from November 30 through December 1.
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