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10.05.2019 / 17:29

Week of Financial and Digital Technologies to be held in Azerbaijan

Week of Financial and Digital Technologies will be held in Baku on 13-17 May with the support of the Financial Market Supervisory Authority.


This week is organized as part of the implementation of priority targets of the “Strategic Road Map for the Development of Financial Services in the Republic of Azerbaijan” and “State Program on Expansion of Digital Payments in the Republic of Azerbaijan in 2018-2020” to accelerate digital transformation of banks, introduce new digital payment technologies, as well as to enhance the awareness-raising and promotion on digital payments.


Within the week, a Memorandum of Understanding on cooperation in the sphere of development and implementation of financial and digital technologies will be signed within the week between the Financial Market Supervisory Authority, Ministry of Transport, Communications and High Technologies, the Central Bank, the Center for Analysis of Economic Reforms and Communication and the Azerbaijan Banks Association. A single platform on joint work will be formed in the application of financial and digital technologies throughout the country on the basis of the memorandum, expansion of their use, mutual exchange of information on innovative products and services, technological achievements, sharing of experience, supporting the activities of “fintex” and enhancing their cooperation with financial companies and banks and other areas.


Furthermore, a series of events will be held with the participation of the Financial Market Supervisory Authority together with other relevant government agencies, Azerbaijan Banks Association, as well as leading banks in the field of digital transformation and organizations represented in the payment ecosystem. Thus, the Doors Open Days, visit of university students to digital laboratories and familiarity with projects implemented, awareness-raising events will be organized in several banks in order to further improve the knowledge and skills of bank specialists in digital payments, innovative technologies and cyber security.


Experts of international organizations such as the International Card Corporation Visa Inc. and International Finance Corporation (IFC) will hold workshops on the use of alternative service channels in digital payments and fight against fraud in transactions with payment cards. Mutual meetings on the application of innovations in the payment ecosystem and development of digital banking will also be held with international organizations.


Fintex Summit – Finance and Technology Summit will be held as part of the Week of Financial and Digital Technologies on May 16-17. The summit will focus on the transition to a modern banking system, the latest trends in payment ecosystems and innovative payment solutions, information security in the digital environment and other topics. In addition to international organizations such as the European Banking Federation, International Finance Corporation, Vısa Inc., MasterCard Worldwide, American Express, the Society for Worldwide Interbank Financial Telecommunications (SWIFT), the summit will also be attended by representatives of leading organizations in the field of electronic payments and digital banking from the USA, Japan, China, the European Union and CIS countries.

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