BAKU, Azerbaijan, Nov. 10
By Eldar Janashvili - Trend:
Integration processes are underway in the Azerbaijani banks, and the rate of technological growth is very high, economy expert Elman Sadigov told Trend.
The number of online payments through mobile internet is constantly growing in Azerbaijan, the expert noted. Great success is observed in the field of non-cash payments, but at the same time, much needs to be developed, Sadigov said.
“Just ten years ago, when we entered a branch of any bank, we saw that about 15 operators served customers,” the expert noted. “Today, less than five people work in the Azerbaijani banks and bank branches as operators. The rest were replaced by mobile banking, internet banking and payment terminals. This clearly shows the progress of integration. If we talk about the rate of decrease in the number of employees in branches over the past ten years, about the system of cashless payments in the payment system, in the coming years we will witness branches that don’t have any personnel at all. Moreover, Azerbaijan is already approaching the “branchless” banking system used in Turkey.”
The remote opening of bank accounts has already begun to be applied in Azerbaijan, Sadigov said.
Instead of seeing a bank 5-10 times, in order to open a bank account, it is enough to approach a bank only a couple of times for some formal issues, the expert added.