12:57 - 17.12.2025

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December 17, Fineko/abc.az. Currently, the level of use of the KYC (customer recognition) process in the fintech sector of Azerbaijan is more than 90%, ABC.AZ reports, quoting Edgar Abdullayev, the chairman of board of the Azerbaijan Fintech Association (Azfina).

He added that there are great opportunities for using the KYC process with the help of artificial intelligence agents, and even the recognition level exceeds 90%: "But even in this case, we need to make sure that the final decision is made by the person. As long as there are such serious threats to the state's economy as dirty money laundering and illegal gambling, we need a real, living person to make a final decision."

He said that this is also necessary for the security of end users of fintech solutions: "For example, if someone uses our wallet or any other, end users also need to be sure that there really is a focused decision-making mechanism at the end of the process."

Abdullayev noted that technologies are developing faster and faster: "However, we understand the regulatory aspects and security issues behind them. Therefore, despite the fact that artificial intelligence makes decisions with an accuracy of almost 99%, the human factor should always be present, at least at the current stage. For final decision-making based on valuable information coming from AI, a person's opinion is required. This is especially important in our country and the region at the moment."