CBA: Several banks in Azerbaijan joined open banking payments

In Azerbaijan, several banks have joined open banking payments, Vusal Khalilov, Deputy Chairman of the Central Bank of Azerbaijan (CBA), told journalists, Report informs.

According to him, several banks already offer open banking services in their mobile apps: "This primarily concerns account and transaction information. In accordance with our strategic roadmap, banks are continuing to connect to the system."

A CBA representative stated that financial institutions are in the process of adapting to the regulator's cybersecurity regulations: "As you know, we have existing rules and approaches to cybersecurity. Close cooperation and intensive work are underway. Legislation is being improved based on challenges from within the sector and existing in the financial sector as a whole."