15:34 - 15.05.2024

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May 15, Fineko/abc.az. The technology of open banking in Azerbaijan should ensure provision of payment services based on the technology of open banking in Azerbaijan.

ABC.AZ reports that Zakir Nuriyev, the head of the Association of Banks of Azerbaijan (ABA), stated about this at the Fintex summit in Baku.

He noted that it is necessary to ensure the expansion of the scope of e-money.

"In order to achieve the priority goals set for innovative solutions and technologies in the near strategic period, it is necessary to ensure legislative reforms on the formation of digital banks. It is also necessary to deepen the integration links of the existing payment ecosystem with the payment ecosystem of neighboring countries. One of the important steps in this direction is optimization of cost items in the payment services market, increasing the effectiveness of the tariff policy implemented by the international payment system and accessibility for ecosystem participants," Nuriyev said.