- On May 16-17, 2019 up to 1500experts of financial industry gathered together at the Finance and Technologies Summit in Baku, Azerbaijan to discuss new trends in banking and payment ecosystem: innovative solutions, fintechs and security
- Supported by Visa, Fintex Summit focused on four main topics, defining the development of banking sector: Traditions VS. New Tech: the changing face of banking – the role of fintechs; payment ecosystem: new players, new solutions; Security and risk and Modern technologies for collecting overdue debts
Visabecame the Global Sponsor of thetwo-day event: Finance and Technologies Summit in Baku, organized by Azerbaijan Banks Association in cooperation withCentral Bank of the Republic of Azerbaijan, Financial Markets Supervision Authority of the Republic of Azerbaijan, Ministry of Transport, Communications and High Technologies of the Republic of Azerbaijan and Center for Analysis of Economic Reforms and Communication. Gathering key players from regulatory, banking systems, technology companies and other financial market stakeholders on the same platform, thesummitinitiated a discussing opportunities provided by new financial and banking products, innovative payments solutions, digital currencies, possibilities of co-existence and co-operation of banks with fintech, and security issues arising with the onrush of such technologies.
The summit was a productive platform for Visa to formulate an oversight framework on digital payment systems and payment services, expand the usage of innovative payment solutions and fintechin Azerbaijan.
Azerbaijan is living the trends of mobile internet and smartphone penetration growth, showing permanent progress in terms of contactless adoption globally. These tendencies not only create wide possibilities for new bank products development, but also challenges for new entrants, banking vendors, solutions providers, etc. All these issues were covered at Fintex Summit, which gathered prominent speakers from Central Bank of the Republic of Azerbaijan, Visa, Bank of Russia, SWIFT and other financial market stakeholders with the success cases of innovations deployment.
Cristina Doros, Acting Vice President, Head of Solutions, Visa CISSEE: «In today’s rapidly changing payment landscape, the transformation of payments is increasing in intensity, and will only accelerate in pace. As the market shifts, we have to continuously adapt to reap the rewards of digitalization or else be punished by inaction. This is why it is vitally important that we foster collaboration among all players and key stakeholders of the payments industry: regulators, financial institutions, merchants, and fintech companies in all shapes and forms. For that very reason Visa is proud to be Global Sponsor on the FINTEX. Finance and Technologies Summit. The Summit is effective and efficient platform to jointly discuss the innovations and new technologies that Visa is bringing to Azerbaijan to pave the way to digital transformation of Azerbaijan economy.”
Yevgen Lisnyak, Senior Director, Strategic Partnership, Fintech and Ventures: “Currently, more and more possibilities are opened for deepen partnership and joint growth of classical players as well as fintech companies in the financial technologies world. At this time, more and more of such companies are focusing at the solving of issues related to improving of customer experience, making it more intuitive and seamless. In any case, they require the services of the traditional financial institutions – banks. Visa sees its role in the stimulation and development of innovative fintech companies and technologies via usage of unique set of instruments, and providing support of banks to such companies”.
For more information about Fintex Summit, please visit: LINK
