Central Bank holds Innovation day

28-10-2019

25 October 2019, Baku: The Central Bank always attaches importance to continuous tracking of information – communication technologies related challenges on an international arena and delivery of innovative solutions to the banking area. At the same time, launch of state-of-art IT infrastructure in the country in line with international trends and expansion of e-services offered in the financial and banking sectors necessitates information security during data sharing, protection of information resources in use from possible threats and maintaining regular related researches and analyses.

As a follow-up of related events the Central Bank held an event titled ‘Financial technologies: today and future prospects’ on 25 October 2019 to synchronize efforts on introduction of fintech and innovative solutions with commercial banks within the frames of the ‘InnoWeek – Innovation week’ held by the Ministry of Transport, Communications and High Technologies.

Related presentations were delivered with the participation of relevant employees of the Ministry of Transport, Communications and High Technologies, the Financial Markets Supervisory Authority, the Azerbaijan Banks Association and commercial banks at the event with parallel display of functionality of the Digital Information System under way by the Central Bank allowing individuals to open distant bank accounts.

The Central Bank is planning to hold relevant events to further deliver international innovations on expansion of financial technologies, including maintaining information security to the banking sector.