Presentation of new e-banking system held at Central Bank of Azerbaijan

The Central Bank of Azerbaijan (CBA) has presented to credit organizations a fully working system of remote account opening for individuals, Trend reports referring to the CBA.

The system was developed as part of a project to create a digital identification system based on the blockchain and confirmed by the Financial Market Supervisory Authority (FIMSA).

The purpose of the development of the system is to expand digital services in the country, as well as to ensure safe work with customers using innovative technologies.

As a result of the project, individuals and legal entities will be able to access banking services remotely. So, the required data will not be recorded on paper, which will ensure the integrity, accessibility and confidentiality of information.