IBA reports on 2009 progress in e-banking services
The International Bank of Azerbaijan (IBA), the
country’s biggest bank, has summarized the results of development
of its electronic banking services in 2009, according to Rauf
Agayev, head of the IBA press-service.
IBA’s e-banking services include all services of the bank provided via ATMs, information booths, as well as Internet banking and mobile banking services. E-banking includes payments of cellular and landline telephone fees, Internet provider payments, instant money transfers, electronic deposits, etc.
Agayev reminded that in 2009 IBA implemented the unmatched service on the payment of airline tickets of SilkWay Travel company via systems with remote servicing capability, such as computers, ATMs, information booths, and cell phones. As a result, IBA and SilkWay Travel customers gained the opportunity to make remote payments for electronic air tickets using IBA systems and use them in airports, by simply making a prior phone call to the travel agency. Such a revolutionary service in Azerbaijan will help those travelers who are looking to save their time.
Agayev also noted that over the last year IBA has expanded the range of its options in the MobileBank system. Whereas before customers could only pay for the services of cellular operator Azercell and Bakielectricshebeke, the Baku power grid, now this list is supplemented by Sumgayitelectricshebeke, the power supplier of the town of Sumgayit, as well as Internet providers Elcell, Azeronline and Adanet, Aztelecom company and SilkWay Travel agency. Additionally, IBA customers may take advantage of CardTransfer services to transfer funds from one plastic card to another using mobile banking.
The positive trend of growth in electronic payments and transfers reported over the past two to three years has been maintained over the past year. Thus, whereas 243,800 e-banking transactions were carried out in 2007 in the amount of 4.88 million manats ($6.1 million), and in 2008 the figures were 366,300 (33.4% increase) and 7.94 million manats (38.8% increase) respectively, as of the end of 2009, 499,210 transactions (36.28% increase) were reported, which amounted to 13.6 million manats (70.64% increase).
The IBA spokesman said that leading the way on the number of transactions are payments for Azercell, Bakcell and NarMobile GSM operator services (about 95% of all transactions). However, on the volume of transactions the leader is CardTransfer, accounting for 65% of the total volume of operations. Most card-to-card transfers were carried out via the Bank ATM network.
Also, a significant increase was seen on the volume and number of transactions in the Internet banking system. According to the IBA spokesman, considerable growth was observed upon implementation of a more user-friendly system which does not require obtaining and annual updating of certificates from the bank or installation of software. Thus, the number of transactions performed through the system rose from 28,000 in 2008 to 84,000 in 2009, for a total of 170,000 manats ($212,000).
The IBA plans a further expansion of the scope of its e-banking operations in 2010.*
IBA’s e-banking services include all services of the bank provided via ATMs, information booths, as well as Internet banking and mobile banking services. E-banking includes payments of cellular and landline telephone fees, Internet provider payments, instant money transfers, electronic deposits, etc.
Agayev reminded that in 2009 IBA implemented the unmatched service on the payment of airline tickets of SilkWay Travel company via systems with remote servicing capability, such as computers, ATMs, information booths, and cell phones. As a result, IBA and SilkWay Travel customers gained the opportunity to make remote payments for electronic air tickets using IBA systems and use them in airports, by simply making a prior phone call to the travel agency. Such a revolutionary service in Azerbaijan will help those travelers who are looking to save their time.
Agayev also noted that over the last year IBA has expanded the range of its options in the MobileBank system. Whereas before customers could only pay for the services of cellular operator Azercell and Bakielectricshebeke, the Baku power grid, now this list is supplemented by Sumgayitelectricshebeke, the power supplier of the town of Sumgayit, as well as Internet providers Elcell, Azeronline and Adanet, Aztelecom company and SilkWay Travel agency. Additionally, IBA customers may take advantage of CardTransfer services to transfer funds from one plastic card to another using mobile banking.
The positive trend of growth in electronic payments and transfers reported over the past two to three years has been maintained over the past year. Thus, whereas 243,800 e-banking transactions were carried out in 2007 in the amount of 4.88 million manats ($6.1 million), and in 2008 the figures were 366,300 (33.4% increase) and 7.94 million manats (38.8% increase) respectively, as of the end of 2009, 499,210 transactions (36.28% increase) were reported, which amounted to 13.6 million manats (70.64% increase).
The IBA spokesman said that leading the way on the number of transactions are payments for Azercell, Bakcell and NarMobile GSM operator services (about 95% of all transactions). However, on the volume of transactions the leader is CardTransfer, accounting for 65% of the total volume of operations. Most card-to-card transfers were carried out via the Bank ATM network.
Also, a significant increase was seen on the volume and number of transactions in the Internet banking system. According to the IBA spokesman, considerable growth was observed upon implementation of a more user-friendly system which does not require obtaining and annual updating of certificates from the bank or installation of software. Thus, the number of transactions performed through the system rose from 28,000 in 2008 to 84,000 in 2009, for a total of 170,000 manats ($212,000).
The IBA plans a further expansion of the scope of its e-banking operations in 2010.*
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