FINCA Azerbaijan applying online lending

Finance Materials 16 April 2020 15:58
FINCA Azerbaijan applying online lending

BAKU, Azerbaijan, Apr. 16

By Fidan Babayeva - Trend:

FINCA Azerbaijan, a non-bank credit organization, builds its work in accordance with the recommendations of the Central Bank of Azerbaijan and measures taken by the Operational Headquarters under the Cabinet of Ministers to fight against coronavirus, Acting Head of FINCA Azerbaijan PR and Marketing Department Zaka Guluyev told Trend.

"As you know, the coronavirus pandemic has negatively affected the global economy and complicated the activities of a number of enterprises in all countries around the world. This situation also affected Azerbaijan. Thus, due to the announced country-wide quarantine measures, many representatives of the business and services sector temporarily suspended their activities," he said.

According to Guluyev, despite all the recent events, FINCA continues providing loans to the regular customers who have a positive credit history and are currently working, especially in the field of agriculture.

"At present, 40-50 percent of the employees of our head office are working online. In particular, the current FINCA Azerbaijan business model allows us to create our business on the Internet and make more flexible decisions. As instructed by the Central Bank, our branches reduced customer service hours. Besides, various means of communication are used to serve customers without visiting the branches, so that our customers could use our services without leaving their homes," he said.

Guluyev stressed that FINCA currently introduces a new innovative FinCard system, through which the customers withdraw the loan amount from the card. The customers can use this amount at their own discretion by withdrawing money partially or at once, as well as for various non-cash payments.

“Our company is connected to the ASAN finance system and provides more accessible information for the customers. This digital solution allows us to be closer to customers and make quick decisions on loans,” he said.

Launched in 1998, FINCA Azerbaijan is part of FINCA Impact Finance’s global network of 20 banks and microfinance institutions that profitably and responsibly provide impactful financial services to low-income individuals and communities, enabling them to invest in their futures.

As a leading microfinance institution in Azerbaijan, FINCA serves small businesses across the country with various loan products intended to promote profitable business activity. The company places an emphasis on agricultural lending.