BAKU, Azerbaijan, February 28. Haifin Company from the United Arab Emirates (UAE), specializing in financial technologies, may enter the Azerbaijani market, Trend reports.
Zul Javaid, CEO of Hayfin, announced that 13 UAE banks have already used the platform to verify transactions worth 120 billion dirhams ($32.7 billion) last year.
"To date, transactions totaling 200 billion dirhams ($54,4 billion) have been processed through our platform. This has exceeded the banks' expectations and revealed a high level of repeat financial inquiries. We plan to expand the use of the platform to the markets of Oman, Bahrain, and Saudi Arabia. In addition, we are looking at Pakistan, Azerbaijan, Georgia, and South Africa as potential markets for our company's development," he noted.
To note, a fintech company is a company that uses technology to provide financial services. They can engage in various aspects of financial activities, including online banking, payment systems, lending, investing, and insurance, among others. The goal of fintech companies is often to streamline processes, make financial services more accessible, and improve user experience through innovative technologies such as artificial intelligence, blockchain, data analytics, and mobile apps.
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