BAKU, Azerbaijan, Jan. 28
By Sadraddin Aghjayev - Trend:
The Azerbaijani E-PUL payment system is planned to be turned into a neo-bank (a bank that exists entirely in digital form), Samir Nasibov, CEO of PAYSIS company (the system's legal owner), told Trend.
According to Nasibov, this initiative is reflected in the company's development strategy.
"Traditional banks are mainly focused on getting net income from the commission fee and are less open to the introduction of new products, and obtaining new sources of income," he said.
The neo-banks, on the contrary, can be more flexible and creative in making partnerships with other non-banking organizations, thus increasing profits and reducing dependence on traditional income sources, added the CEO.