Baku, Azerbaijan, Oct. 17
By Kamala Mammadli - Trend:
Globalization of financial services could create serious competition for Azerbaijani banks, an IT expert, Executive Director of the Azerbaijan Innovation Export Consortium (AZINNEX) Farid Kazimov told Trend.
Answering a question about the interest of the banking sector in the development of the IT sector, the expert noted that the Azerbaijani banking sector is quite conservative and lags behind the technological development.
"This creates certain difficulties in the provision of innovative services," Kazimov said.
According to the expert, for the development, it is necessary to actively apply the most effective technological innovations.
"Otherwise, the globalization of financial services will create serious competition for Azerbaijani banks," Kazimov added.
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