2024-05-28 16:43:17
Fintex Summit 2024 came about in Baku on Might 15-16.
As Day.Az reported on Thursday as regards to Pattern, on the primary day of the summit, views have been exchanged on digitalization processes in Azerbaijan, the way forward for the fee business, the usage of synthetic intelligence, the event of non-cash funds, the event of the fintech sector within the area and digital currencies.
Of their speeches, the audio system talked in regards to the improvement of fee programs in international locations, open banking, the professionals and cons of introducing synthetic intelligence, accelerating the transition to non-cash funds, and the way forward for digital currencies.
On the second day of the summit, two panel periods have been held.
The panel periods mentioned the prevention of fraud within the monetary sector, improvement and issues of the fintech sector.
Talking on the panel discussions, chief specialist of the Central Financial institution of Azerbaijan Khayala Mammadova famous that the Central Financial institution of Azerbaijan is working to guard residents from fraud within the monetary sector.
“As know-how advances, fraud eventualities are bettering and choices are rising. We additionally plan to do extra to make sure cybersecurity within the monetary sector,” she stated.
In line with Kh. Mamedova, work can be underway within the monetary sector to enhance cybersecurity reporting.
“On this regard, sure information will probably be collected, pattern stories will probably be analyzed and improved,” she emphasised.
She talked about that worldwide expertise exhibits that as know-how advances, the variety of cyber risks and threats will increase.
Director of the Division for Work with Supervisory and Legislation Enforcement Companies of the Monetary Monitoring Service on the Central Financial institution of Azerbaijan Nurlan Babayev, in flip, stated that if the market itself is present process digital transformation, regulatory devices should even be topic to this.
“If the market itself is present process a digital transformation, then each fintech and conventional banking providers, in addition to regulatory devices, should endure a digital transformation. We’re taking a step again in digital transformation, since this course of doesn’t happen in parallel,” he emphasised.
In line with him, fee and digital cash organizations have existed available on the market for a very long time.
“It is rather fascinating that their presence was beforehand decided and utilized by criminals. That is additionally pure, since regulatory our bodies should make collective choices, which should undergo a number of phases. However criminals shouldn’t have this drawback,” Babaev defined.
As a part of the occasion, an award ceremony for sponsors and companions of the summit came about. Visa, a world sponsor of the summit, was additionally among the many awardees.
Awards have been additionally introduced to representatives of different sponsors and companions of the summit, together with quite a lot of banks and organizations.
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