The Fintech Forum of Azerbaijan, organized by the Azerbaijan Fintech Association (AzFina) and supported by the Central Bank of Azerbaijan, the Azerbaijan Bankers Association, and in partnership with ACOA, was successfully held.
Representatives from international financial institutions, fintech firms, banks, and other financial organizations participated in the event.
During the Forum, both local and international experts discussed recent developments in the fintech sector, shared their forecasts, and exchanged views on the implications for the financial industry. Special emphasis was placed on cybersecurity and combating fraud.
As part of the Forum, ACOA's Executive Director, Rauf Jabarov, delivered a presentation. In his panel speech titled "The Future of Security in Fintech: Fraud, Cybersecurity, and Sustainability," he analyzed cyber incidents in the financial and banking sectors and their underlying causes. He underscored the importance of paying particular attention to cybersecurity issues in fintech, based on forecasts of increasing cyber threats to the financial sector by international organizations. Additionally, he noted that while digitalization creates additional income opportunities for financial institutions, it is crucial to reduce the risks associated with digital transformation by focusing on cybersecurity standards.
