The Central Bank of the Republic of Azerbaijan has approved a Supervisory Technologies (SupTech) Roadmap, jointly developed with the World Bank Group under the Financial Sector Modernisation 3 project, setting out the strategic framework and a portfolio of planned SupTech initiatives for 2024–2029. The roadmap positions SupTech as the use of technology and data to support risk-based supervision, with tools intended to improve the efficiency of supervisory processes and raise the quality of financial institutions’ reporting and compliance with regulatory requirements. Implementation is also intended to support the central bank’s risk-based supervision approach in line with its Policy Concept for Risk-Based Supervision and to advance 2024–2026 strategy goals including deploying data-driven SupTech solutions and introducing a supervisory information system.
Central Bank of the Republic of Azerbaijan 2025-02-20
Central Bank of the Republic of Azerbaijan approves SupTech Roadmap for 2024–2029 supervisory technology projects
The Central Bank of the Republic of Azerbaijan, with the World Bank Group, has approved a Supervisory Technologies (SupTech) Roadmap under the Financial Sector Modernisation 3 project for 2024–2029. The roadmap aims to enhance risk-based supervision through technology and data, improving supervisory efficiency and financial institutions' compliance. It aligns with the central bank's strategy to deploy data-driven SupTech solutions and introduce a supervisory information system.