Azerbaijan's banks widely use high technologies

By Trend

High technologies are widely used in Azerbaijan's banking sector and measures to ensure cybersecurity are being taken, President of the Azerbaijan Banks Association (ABA) Zakir Nuriyev said at the second International Cybersecurity Week conference in Baku, Trend reports on Mar. 2.

“The primary tasks for Azerbaijan’s banks are reducing the costs of customer services in the banking sector. To ensure cost reduction, special attention should be paid to the development of various strategies and legal basis, with the participation of all interested parties, in particular, private companies and public associations in this sector,” the association’s president added.

“Currently, participants of banking sector work to introduce advanced technologies, but given that relevant international conventions are not applied in the country, there are certain problems in this sphere. We believe that in the process of developing new strategies, the legal framework should be clearly taken into account. We expect support from government agencies in addressing this problem,” Nuriyev said.

The second International Cybersecurity Week organized by the Ministry of Transport, Communication and High Technologies is being held in Baku on March 2.

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