BAKU, Azerbaijan, Dec. 11
By Nazrin Israfilova – Trend:
Bank Respublika is technically ready for such systems as PayPal, we are not a regulator, but it is enough that this payment system will operate in Azerbaijan, we can easily present it to our clients, the Head of the Department of Information Technologies and Innovations of Bank Respublika Azerbaijan Rashad Aliyev told Trend.
In addition, Aliyev noted that the bank is conducting research in the field of open banking.
"The Central Bank of Azerbaijan has several roadmaps in open banking and in other areas. We have been conducting research in these areas for three years, and have also connected several partners to this work. New products have been created, work is underway to launch pilot versions, by 2022 they will be available for use," he said.
It is noted that open banking at Bank Respublika is implemented on the basis of a modern authentication model and tokenized authorization. All technologies implemented by Bank Respublika in open banking comply with international standards.