IBA, Coinstar Eurasia sign co-op deal
The International Bank of Azerbaijan (IBA) has
joined the Coinstar Eurasia integrated processing system. As part
of the signed cooperation agreement, the country`s leading bank and
Coinstar Eurasia have also begun developing ICT solutions to
provide money transfers to the bank cards of IBA clients processed
by AzeriCard.
While considering the options available, IBA decided to use QS Front Office, a single window for data entry operators provided free of charge with all benefits of the Coinstar Eurasia system. Moreover, the bank would gradually implement a transition to QS Front Office while offering not only these new services but also while operating the systems which had been in use prior to the signing of the agreement with Coinstar Eurasia. IBA has already begun carrying out money transfers under the Blizko (Close) system using QS Front Office.
Joining Coinstar Eurasia will allow IBA to expand the scope of its customer services. The bank has already begun receiving and paying out money transfers using the international Coinstar Money Transfer system and it`s joining other money transfer and payment systems is still in the offing. Providing as many services as possible makes IBA more convenient for its customers, which is the paramount task of any retail bank.
``We believe that connecting to services that don`t even bring considerable income as, for instance, the opportunity for a client who is in Azerbaijan to refill the accounts of Russian cellular operators, will positively affect the bank`s image,`` commented the head of the IBA press-service, Rauf Agayev.
Coinstar Eurasia considers as an important and prospective project launching money transfers that allow transferring funds to AzeriCard-processed bank cards. It is expected that as the number of banks participating in the project increases, the scope of potential users of this service will also increase, allowing for the transfer of funds to all AzeriCard holders.
``The project on transferring money to plastic cards will allow, in the future, the carrying out of international transfers while receiving and paying out funds in national currencies and in calculations within CIS, direct conversion will be applied, not one using dollars,`` says Natalya Katina, Coinstar Eurasia`s Marketing Director.
Currently, CIS states account for most of the transfers carried out by private individuals in Azerbaijan, and directly converting money will help to strengthen their currencies.
While considering the options available, IBA decided to use QS Front Office, a single window for data entry operators provided free of charge with all benefits of the Coinstar Eurasia system. Moreover, the bank would gradually implement a transition to QS Front Office while offering not only these new services but also while operating the systems which had been in use prior to the signing of the agreement with Coinstar Eurasia. IBA has already begun carrying out money transfers under the Blizko (Close) system using QS Front Office.
Joining Coinstar Eurasia will allow IBA to expand the scope of its customer services. The bank has already begun receiving and paying out money transfers using the international Coinstar Money Transfer system and it`s joining other money transfer and payment systems is still in the offing. Providing as many services as possible makes IBA more convenient for its customers, which is the paramount task of any retail bank.
``We believe that connecting to services that don`t even bring considerable income as, for instance, the opportunity for a client who is in Azerbaijan to refill the accounts of Russian cellular operators, will positively affect the bank`s image,`` commented the head of the IBA press-service, Rauf Agayev.
Coinstar Eurasia considers as an important and prospective project launching money transfers that allow transferring funds to AzeriCard-processed bank cards. It is expected that as the number of banks participating in the project increases, the scope of potential users of this service will also increase, allowing for the transfer of funds to all AzeriCard holders.
``The project on transferring money to plastic cards will allow, in the future, the carrying out of international transfers while receiving and paying out funds in national currencies and in calculations within CIS, direct conversion will be applied, not one using dollars,`` says Natalya Katina, Coinstar Eurasia`s Marketing Director.
Currently, CIS states account for most of the transfers carried out by private individuals in Azerbaijan, and directly converting money will help to strengthen their currencies.
Here we are to serve you with news right now. It does not cost much, but worth your attention.
Choose to support open, independent, quality journalism and subscribe on a monthly basis.
By subscribing to our online newspaper, you can have full digital access to all news, analysis, and much more.
Subscribe
You can also follow AzerNEWS on Twitter @AzerNewsAz or Facebook @AzerNewsNewspaper
Thank you!