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IBA increases volume of electronic banking transactions

18 February 2013 10:36 (UTC +04:00)

Baku. Vahab Rzayev – APA-Economics. The International Bank of Azerbaijan (IBA) reports of the trend of positive growth of electronic banking operations for the period from 2007 to 2012.

The IBA informs that 243,800 transactions for AZN 4.9 million were carried out across all e-banking channels in 2007 and their number reached 464,900 transactions for AZN 14.1 million in 2012. As a whole, 2.59 transactions for AZN 76.8 million were conducted in 2007-12 through e-banking.

As for the number of e-banking transactions in 2012, 94.5% of them were intended to pay for mobile services (in comparison with 2011 the number of transactions increased by 3.8%). As a whole, in 2012 to pay for mobile communications the Bank’s customers conducted 439,000 e-banking transactions for totally AZN 2.6 million. The number of operations on payment of fixed line, compared with 2011, increased by 83.4%, while the amount of payments tripled.

Last year, a large portion of the total money transferred through e-banking channels, accounted for Card Transfer (72%). Mobile payment is 18.6% of the total sum.

Most of the e-banking operations were carried out by cash machines and system InternetBank. 90% of the operations were conducted through cash machines, and 44% of cash flows were carried out through system InternetBank.

The IBA usually pays special attention to development of e-banking services. The Bank is constantly working to improve the existing and new services. Today, the Bank’s clients can, without leaving home, to check their bank account, get an extract, transfer money, pay utility bills, internet, mobile and fixed telephone services through cash machines, computers and cell phones. New technologies and projects, such as Cash by Code, Cash In, Cash to any Card, VISA Personal Payments, PIN Set, PIN Activation is not a complete list of services and products offered by the Bank. These services help save time, and are much in demand.

With the purpose to provide services to customers at a higher level and the creation of new banking products, the IBA plans to expand in 2013 volume of e-banking operations with a high level of security.