Volume of transactions through all channels of IBA e-banking increased by 41 percent in 2010

Volume of transactions through all channels of IBA e-banking increased by 41 percent in 2010

Azerbaijan, Baku, Feb. 17 / Trend /
In 2010, the International Bank of Azerbaijan (IBA) significantly expanded the range of channels of electronic banking, the bank said.

"The formation of the ATM network such as cash-in was launched in the country for the first time. As opposed to ordinary ATMs, this model allows us to transfer cash money to the account of a customer's card," a statement said.

Last year the bank opened a few points with cash-in-ATMs and information kiosks, namely: on Fountain Square (5 cash-in ATMs), a shopping and entertainment complex "Park Boulevard" (two cash-in ATMs and the information kiosk), May 28, 20 street (three cash-in ATMs and the information kiosk). Spokesman for the IBA Rauf Agayev noted that the point on May 28 street temporarily operates from 08.00 to 24.00. But it will work the whole day soon.
In 2010, the network of partner-companies, whose services can be paid through electronic banking was also expanded. Internet Service Providers Connect, Azeurotel and Adanet, mobile operator Azerfon-Vodafone are among them. The IBA plans to continue working to attract new partners in 2011, he said. "Transfer Card" (urgent money transfers from one credit card to another), "Electronic Deposit" (the opening of urgent deposit by credit card), "SMS-alert" (receiving sms-messages about all operations with bank cards to a mobile phone of a card holder) are among the most popular electronic banking products.
The positive trend of growth of the services through all the channels of electronic banking was observed in 2010. So, roughly 498.600 transactions amounting to 13.6 million manat were conducted through all channels of electronic banking in 2009, in 2010 the figure was 567,000 transactions (growth - 13.72 percent) amounting to 19.2 million manat (growth - 41.18 percent). There were more than 1.7 million e-banking transactions worth about 46 million manat in 2007-2010.
Although the number of transactions conducted through ATMs remains quite high (over 90 percent of the total number), their share in terms of money continues to decline. By late 2010 it hit 55 percent (70 percent in 2009).

Agayev said that this year the bank plans to pay attention to developing a network of electronic banking, opening new day-night self-service points, as well as improving Internet Banking and MobilBank systems.

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