Azerbaijani bank spent AZN 17 million on IT development


October 22, Fineko/abc.az. In our time the banks are trying to develop further the mobile banking system and conduct operations without human intervention. Europe and developed countries have already joined this process and are introducing mobile banking successfully.

At what level is mobile banking at Azerbaijani banks and what steps have been taken to develop it?

We first of all addressed with this question to PASHA Bank.

In response to ABC.AZ’s inquiry the Bank informed that the segment of IT is one of the main investment spheres of PASHA Bank.

Thus, in 2018, the amount of finances allocated for the development of IT infrastructure at the Bank amounted to about AZN 17 million.

"Also, about AZN 1.7 million have been allocated for the information security segment. Those figures are much higher than the market average indices," the Bank answered.

By Elmir Murad