BAKU, Azerbaijan, December 3. Azerbaijan has considerable potential in the areas of digitalization and the development of its fintech ecosystem, Mustafa Aydın, the deputy chairman of Türkiye's Banking Regulation and Supervision Agency (BDDK), said at the 8th International Banking Forum in Azerbaijan's Baku, TurkicWorld reports.
"A strong economic structure and openness to innovation create opportunities for regional leadership in the banking sector. Azerbaijan’s advancements in digital banking are attracting attention both domestically and internationally. The important role of digital payment systems and secure financial services in this process is clear from the perspectives of economic development and financial freedom.
Cooperation between Türkiye and Azerbaijan in this area, including joint projects and knowledge exchange, could strengthen both countries’ positions in the banking and fintech sectors. Türkiye’s experience in payment systems and digital banking, supported by a strong regulatory framework and innovative solutions, could serve as a model for Azerbaijan," Aydın said.
To note, the 8th International Banking Forum is in full swing over two days in the bustling city of Baku, Azerbaijan, and the key topics of the forum include digital transformation (digital and neobanks), strategies for data management and analytics, the evolution of the payment landscape (transition to contactless technologies), instant, seamless, and compatible international payments, the revolution of decentralized finance (DeFi), cloud systems and alternatives to outdated technologies, digitalization through the lens of cybersecurity, stability and resilience, and green and sustainable banking (ESG).
