BAKU, Azerbaijan, May 18. Some 20 percent of PASHA Bank's turnover belongs to fintech (financial technology) companies, Jalal Orujov, COO and Executive Board member at PASHA Bank OJSC, said during the GSMA M360 Eurasia 2023 international conference in Azerbaijan's capital Baku, Trend reports.
According to Orujov, PASHA Bank cooperates with 15 companies providing fintech services, including Azercell.
"We have created a fairly favorable environment for fintech companies to work. At the moment, even for small operations, fintech needs banks. In this regard, we are ready to provide assistance within the framework of our partnership," the board member said.
Speaking about the main obstacles at this stage, he noted that in most cases the banks do not keep up with rapid changes in technology.
Moreover, according to Orujov, human capital is also one of the key factors, since the banking system is quite specific.
"If earlier the main topic of the agenda was digital banking, today we are talking about the relationship in the field of banking (relationship banking). I believe that this particular industry based on user experience will be the main priority in the future. The players of the sphere must cooperate with each other to ensure uninterrupted customer service," Orujov said.
He also mentioned many opportunities for finding mutually beneficial solutions between different players, because creating an uninterrupted interaction with customers also includes working with data, which is the most obvious cooperation with fintech companies.
