On October 19, the largest international financial forum SIBOS 2017 will finalize its work in Toronto, Canada. Annually, a conference represented by representatives of leading financial institutions and corporations, financial equipment manufacturers, software developers, independent consultants, and specialized exhibition of banking technologies are being held within the frame of the event. As in past years, PASHA Bank is the only representative of not only Azerbaijan, but also the entire region as an exponent bank at the event.
This year the conference titled "Building for the Future" was held in four main thematic areas such as banking, compliance, securities and IT technologies. The participants discussed a wide range of pressing issues on development of the financial sector, including the development of banking segment against background of introduction of financial technologies (FinTech), provision of security of financial transactions, including protection against potential cyber threats and possible negative consequences. Speakers of the conference and participants of the event paid special attention to the discussion of the future of the global financial industry, including prospects of blockchain transactions in the money market and securities markets, new approaches to the development of payment processes on a global scale, and other actual issues.
According to the Chairman of PASHA Bank, Taleh Kazimov, the SIBOS forum is perceived by the business community not only as a conference and exhibition of achievements, but also as a professional multi-faceted platform, where a financial "agenda" is shaped and world trends are set.
"The financial world is changing very fast before our very eyes. We at PASHA Bank are well aware of this and in the light of this factor, we are actively making preparations for the introduction of the digital banking model, the practical transition to which is planned within the framework of the Bank's Development Strategy covering the years of 2018-2020. As the only representative of Azerbaijan and the region as an exponent bank at the event of such a level where, without exaggeration, the future of the industry is being shaped, we are striving to adopt the experience of leading financial institutions and introduce better business practices in our own operating markets, " finalized his T.Kazimov.
It should be noted that PASHA Bank takes part in SIBOS forum-exhibition, organized by the Society for Worldwide Interbank Financial Telecommunication (SWIFT) for the 8-th year in a row. Next year, the Forum is expected to be held in Sydney, Australia.