BAKU, Azerbaijan, May 29. PASHA Bank made significant achievements in IT and cyber security last year, Chairman of the Executive Board and Chief Executive Officer at PASHA Bank Javid Gouliyev said during today's press conference dedicated to the bank's performance results for 2023 in Baku, Trend reports.
“Significant achievements have been made in the field of information technology, data, and cybersecurity within the strategic period. One of the key achievements was the introduction of integration with the SIMA digital platform, which improved efficiency and security. The Sentry system was successfully used to monitor clients' mobile applications, which ensured timely detection and elimination of potential threats,” he said.
According to Gouliyev, standardization of payment orders according to ISO 20022 was also implemented, which significantly improved the quality and speed of processing financial transactions.
“Furthermore, a CRM system has been successfully integrated to improve the level of customer service for private banking customers. The Cyber Risk project launched in 2021 deserves special attention. As part of this project, stress tests were conducted and many critical scenarios were taken into account to identify and eliminate significant risks promptly. This made it possible to significantly strengthen the protection of information systems. An equally important achievement was the introduction of the Swift GPI system, which provides customers with the ability to quickly track the status of their international payments. This system has made the process of international transactions more transparent and reliable,” he added.
PASHA Bank is a prominent corporate bank in Azerbaijan. Established in 2007, it provides a comprehensive array of financial services, such as asset management, trade financing, and investment banking, to a diverse clientele, ranging from large corporations to small and medium-sized enterprises.
To note, at the end of 2023, PASHA Bank's assets stood at 8.622 billion manat or $5.07 billion (2.2 percent growth), with the loan portfolio at 2.958 billion manat or $1.7 billion (4.7 percent growth), liabilities at 7.809 billion manat or $4.59 billion (35.7 percent growth), and the bank's net profit reached 271.551 million manat or $159.7 million (3.18 times growth).
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