FinTech, February 2017

Keep an eye on the following trends to stay ahead of the curve. Removing friction from the customer journey – “smoother customer experience”; Rise of insurtech According to Meaghan Johnson, “There …

Tide, a British start-up, launched its mobile-first banking service. Tide aims to make the banking process more efficient for SMEs, positioning itself as the “world’s first” mobile focused bank catered …

Unibank has successfully passed PCI Data Security Standard (PCI DSS) requirements for 2016 and has been awarded the PCI DSS certificate. PCI DSS is one of the best security standards …

Unibank has employed an automated process for providing unsecured loans to small businesses by using a new customer relationships management (CRM) system developed by Protobase Laboratories. The aim of the …

An ever increasing number of SME customers are relying on mobile phones to conduct their transactions. The quality of Mobile Banking apps is therefore becoming a critical point of differentiation …

A new mobile banking service is being introduced in Azerbaijan by Kapital Bank, aiming to simplify services and improve convenience. The mobile app’s features include exchange rate information and virtual …

The International Bank of Azerbaijan (IBA) has adopted a new initiative to support retirees. The ‘Pension+’ program allows IBA pension cardholders to receive a loan of up to AZN 100. …

Some lenders are setting traps for customers in their online services designed to compensate for financial losses suffered following stricter interest rate regulations imposed by the government of Georgia. One …

The European Commission intends to finance Azerbaijan’s 2018–2019 projects associated with the “Harmonizing Digital Markets of EU and Eastern Partnership Countries — HDM Initiative”. The projects will cover six focal …

A Russian bank, “Открытие”, is planning to operate a facial recognition system in its three Moscow branches. The main goals are to optimize the client service/interaction experience and shorten waiting …

Speaking at a press conference presenting reforms in public procurement processes, Deputy Finance Minister Karen Tamazyan announced that the e-procurement system ARMEPS is constantly being improved and that it is …

Economic adviser Maya Mikeladze announced that the recently approved bill, aimed at restricting online loan services, has been signed by the President. The bill was put forward as a way …

2017 will mark the beginning of a large-scale remodeling of the capital market needs in Georgia. Georgia’s National Bank, Central Depository and stock market will all be infused with new …

The Financial Markets Supervision Chamber (FMSC) and the Azerbaijani Ministry of Taxes have agreed that commercial banks will postpone the implementation of a VAT charge in e-commerce operations for one …

VTB Bank’s express money transfer system now includes Nova quick payment terminals. All across Georgia, five thousand Nova terminals have been placed, allowing money to be sent within minutes. Transfer …

In order to ensure better reliability for customers and timely customer notification, VTB Bank in Armenia has launched a free SMS notification service for customers. Bank customers will be able …

Poland’s Idea Bank has launched the world’s first ‘pay-as-you-drive’ car leasing model. The “Happy Miles” model calculates payments for leased cars based on the distance a car travels. A GPS …