European Banking Federation: CIS region has clear FinTech ambitions

Finance Materials 27 May 2019 17:03 (UTC +04:00)

Baku, Azerbaijan, May 27

By Sara Israfilbayova – Trend:

The CIS region has witnessed enormous growth and showed clear FinTech ambitions, Wim Mijs, the CEO of European Banking Federation (EBF), told Trend.

The CEO said that the region’s banks and start-ups are developing fast, following the consumer demands to make banking digitally available.

“At the meeting of associate members of the European Banking Federation hosted by the Azerbaijan Bank Association (ABA) we learned that there are many banks in the region that facilitate technology for their customers, through renewed branches. We welcome these innovations and can say that access to finance via digital channels is only beneficial to citizens and entrepreneurs. It is about letting people interact with their money in a way that fits a modern lifestyle,” he added.

Mijs went on to say that the EBF is constantly engaging with the ABA.

“Our other associate members and bank associations from many countries, mainly in the CIS region and Turkey, are close partners. We exchange many best practices,” the CEO stressed.

The State program on expansion of digital payments in Azerbaijan in 2018-2020 has been signed by the country’s President Ilham Aliyev. The goal of the state program is to significantly expand the use of non-cash payments by citizens, business entities and state agencies.

Azerbaijan has become an associate member of the European Banking Federation in 2008.


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