BAKU, Azerbaijan, June 30. Freedom Finance Bank Kazakhstan JSC is interested in expanding its activities in the Azerbaijani market, Advisor to the Board of Directors of Freedom Finance Bank Kazakhstan JSC Aidos Zhumagulov told Trend.
This has to do with possible integration with processing centers, issuing bank cards.
He noted that the bank is considering this direction in Azerbaijan and other countries.
"We will test the possibilities of this integration, as well as the possibilities of issuing bank cards," Zhumagulov said.
He stressed that the brokerage business of Freedom Finance Bank Kazakhstan JSC is present in the markets of 16 countries, including Azerbaijan, and customers can open accounts with JSC and perform other operations in a digital environment.
"We are localizing the brokerage business in third countries in accordance with the regulations of these countries. Opportunities for the development of new banking (digital bank) depend largely on the Central Bank, and each country has its own rules. It is impossible to repeat the same cases in different countries," Zhumagulov said.
“Banks are quite technologically advanced and can build their own trends and leading solutions in Kazakhstan that do not rely on the practice of solutions of the same Europe. Fintechs in Europe have the right to access the personal data of large banks and rely on GDPR rules. Our business in Europe is adjusted to the rules of their Central Banks, in the CIS countries, the US and others - to their rules. Providing bank services in a digital environment is very convenient from the point of view of adapting to the rules of a particular country," he added.
According to him, Freedom Finance Bank Kazakhstan JSC is aimed at expanding banking outside the country.