On October 24, 2024, the AmCham Banking, Finance, and Insurance (BFI) Committee held a pivotal event centered on Open Banking, a transformative trend shaping modern finance. This gathering brought together industry leaders and experts to discuss Open Banking’s future and its implications for Azerbaijan's financial landscape.

AmCham BFI Chairperson, Ms. Gunay Jalilova, opened the event, highlighting Open Banking's role in creating a collaborative and transparent financial system.

The event’s first session featured insights from GTech Turkiye's Mr. Ibrahim Ozturk and Mr. Selim Yildiz, who explored technology's role in advancing financial inclusivity. ArkSigner Co-Founder Ms. Özlem Kahramaner and Advisory Board Member Ms. Burcu Tümer shared perspectives on regulatory challenges and digital security in Open Banking.

In the following panel, moderated by VakıfBank CEO Mr. Taner Ayhan, discussions focused on Open Banking strategies, including enhancing customer experience, revenue growth, and innovation, while addressing data security and regulatory challenges. Mr. Ayhan emphasized the need for infrastructure investment and fintech partnerships.

Additional contributions included Ms. Pınar Yaşa, Banking as a Service Director at QNB Finansbank, who discussed QNB’s leadership in Turkiye's Open Banking transformation. She emphasized the impact of regulatory changes, increased competition, and digital advances in financial services.

The event also included insights from Visa’s Mr. Harry Rammos on global Open Banking practices, with local input from PASHA Bank’s Mr. Bahman Orujov and ABB’s Mr. Tayfun Sevimli on Azerbaijan's specific opportunities and challenges.

The program concluded with Ms. Fidan Tofidi from CBAR presenting a roadmap for Open Banking implementation in Azerbaijan. Key goals include technical standards development, system integration, and training to build a secure and collaborative financial ecosystem by 2025.

The event wrapped up with an engaging Q&A and a dynamic discussion among participants, closing on a note of productive exchange and collaboration.