OJSC Expressbank has introduced an automated banking system, T24, developed by TEMENOS.
As reported in the bank, the project which started in mid-June 2011 on passing to the platform T24 was completed in less than 15 months.
The new system is a modular, versatile platform that combines the most extensive and flexible functionality with the most advanced and scalable architecture, and provides the ability to automate the entire product range of the bank from the retail and corporate banking to treasury products. The flexibility of the system will enable the bank to respond quickly to changes in the competitive market for banking products, better and faster service to its customers, while also becoming, an important basis for the development of new products, the report said.
Product T24 is the leader of the international market banking systems used by more than 600 banks in 120 countries, including Azerbaijan. -15D -
Economics
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On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
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Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
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Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
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Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
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