Innovative technologies introduced in Azerbaijan's banking sector

ICT Materials 18 August 2019 15:25 (UTC +04:00)

Baku, Azerbaijan, Aug. 18

By Eldar Janashvili - Trend:

At the end of the last working week, three IT events took place in the banking sector of Azerbaijan, proving the dynamic nature of changes in the country's financial sector, Trend reports.

As part of the corporate social responsibility program, the International Bank of Azerbaijan has launched a project to create an IT Academy, aimed at supporting the training of professional IT specialists taking into account the needs in the Azerbaijani labor market.

The social project will be implemented jointly with the DAN IT training center, whose supervisory board includes such global companies as CISCO, WiX and SIGMA.

Bank Respublika jointly with INNOLAND - the Incubation and Acceleration Center of the State Agency for Citizen Services and Social Innovations under the President of Azerbaijan, Financial Market Supervisory Authority (FIMSA), for the first time in the country, is launching the Open Banking Lab program for fintech startups, which will provide an open API in test mode (a mechanism that enables bank customers to open their banking data to external services).

According to the bank's press service, the introduction of innovative technologies, strengthening relations with fintech startups and building relationships with customers in the digital environment are important areas of the bank’s activities in the context of global digitalization of the financial sector.

Unibank, in accordance with its strategic plan “implementing change management” for 2017-2019, opened an IT and digital innovation center in its head office.

The center has a Digital Lab and an IT department. Digital Lab is a company that, along with the improvement of internet and mobile banking services, is also developing a new concept for digital banking products.

Moreover, the center for IT and digital innovation plans to conduct various training sessions in programming, innovation and IT.

According to the press service of the bank, the main motivator of the project is the transition from the traditional banking system to an innovative (digital) system of another (new) type.


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