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Chairman of Azerbaijani FinTech Association names number of operating fintech companies

Finance Materials 29 September 2022 10:27 (UTC +04:00)
Chairman of Azerbaijani FinTech Association names number of operating fintech companies

BAKU, Azerbaijan, September 29. A total of 25 fintech companies provide services in the finance market of Azerbaijan, Chairman of the FinTech Association of Azerbaijan Ruslan Talibov said this during an event on the topic 'Fintech-ecosystem in Azerbaijan - today and tomorrow', Trend reports.

According to him, 55.6 percent of them are stable and 44.4 percent are still developing.

"I want to note that about 20 percent of fintech companies are international players. I believe that the adoption of the law on payment systems will accelerate their development, expand the number of fintech players, give access to payment tools and provide a number of other benefits," Talibov said

He also added that fintech organizations need to create conditions for closer cooperation with banks.

"Cooperation with banks will allow expanding banking services as well as services of fintech companies," Talibov stated.

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