20 February 2026, Baku: The Central Bank continues to expand the use of innovative financial technologies and develop a digital banking ecosystem in the country. In this context, the Central Bank held an event titled Next Goals and Steps in Open Banking, which was attended by representatives from the financial sector.

At the beginning of the event, Fidan Tofidi, Director of the Financial Technologies and Innovations Department at the Central Bank, gave a speech and emphasized that Open Banking is one of the main pillars of the country's financial sector's digital transformation. She said that the Open Banking platform would significantly contribute to reliable information exchange between banks and fintech companies, the development of innovative financial services, and the promotion of a competitive market environment.

The work done in the field of Open Banking and future priorities were discussed at length. Representatives of the CBA provided participants with detailed information on the Central Bank's Open Banking initiatives, as well as new challenges, opportunities, and prospects in this area's development.

The event continued with a presentation by Aliya Azimova, the International Finance Corporation's (IFC) Country Manager for Azerbaijan, on international experience and innovations in this field. The presentation covered international approaches to Open Banking, practical application opportunities, and current development trends.

During the practical phase of the event, participants worked in teams to develop innovative product ideas. The teams received expert support with developing various use scenarios and solutions for Open Banking and questions were answered.

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