Fair competition between banks, fintechs discussed in Azerbaijan

The formation of a healthy and fair competitive environment between banks and payment market participants - such as electronic money institutions and payment organizations (fintechs) - has been discussed in Azerbaijan, Report informs, citing a meeting of the Joint Committee of the Azerbaijan Banks Association (ABA) and the Azerbaijan Fintech Association (AzFina).

During the meeting, proposals and positions from participants of both markets were presented, followed by an exchange of views.

The parties emphasized the importance of fostering collaboration between the banking and fintech ecosystems and maintaining joint discussions to address existing issues.