The Central Bank of the Republic of Azerbaijan held an industry event on “Next targets and steps in open banking”, positioning it within its broader initiatives to expand the use of innovative financial technologies and develop the country’s digital banking ecosystem. The session focused on progress made in open banking and the priorities ahead. Fidan Tofidi, Director of the Financial Technologies and Innovations Department, framed open banking as a core pillar of the sector’s digital transformation and linked the open banking platform to secure data exchange between banks and fintech firms, the development of innovative financial services, and stronger competition. Central bank representatives shared an overview of initiatives already undertaken and discussed new challenges, opportunities and prospects for open banking, while International Finance Corporation Azerbaijan Country Manager Aliya Azimova presented international practices and recent developments; participants then worked in teams on product ideas and use cases with expert support.
Central Bank of the Republic of Azerbaijan 2026-02-20
Central Bank of the Republic of Azerbaijan hosts financial sector workshop on next steps for open banking
The Central Bank of the Republic of Azerbaijan hosted an event on open banking, highlighting its role in digital transformation and secure data exchange between banks and fintechs. The session reviewed progress, challenges, and opportunities in open banking, with insights from international practices shared by the International Finance Corporation. Participants collaborated on product ideas and use cases with expert guidance.