Ease Access to Digital Financial Services I TCM Financial Services

Digital financial services enlarge the delivery of basic financial through technologies like mobile-phone-enabled solutions, electronic money models, and digital platforms. With the advent of digital channels, the cost can drastically drive down for customers and service providers. Also, it opens the door to remote and undeserved populations. 

TCM Financial Services

However, TCM Financial Services have realized the tremendous role DFS can play for financial inclusion and seek to unlock this potential by creating enabling environments for digital financial services.

Here Is the Information!

In Azerbaijan, an advisory project is launched to boost financial inclusion - improving access to financial services for small businesses. Also, helping them grow and create jobs.

IFC, a member of the World Bank Group, and funded by Switzerland’s State Secretariat for Economic Affairs (SECO) - implemented this Electronic & Digital Financial Services Project.

According to IFC, Introducing of modern e-banking services will improve the access to financial services over the next three years. Mainly, they are going to benefit customers who find it difficult to access branch-based services.

As per the analysis of World Bank’s Financial Inclusion Data Global Findex, only 29 percent of Azerbaijan’s adult population has an account with a financial institution, compared to an average of more than 50 percent in Europe and Central Asia. However, the project will work with country’s government agencies, financial institutions, processing centers, mobile network operators and others. This helps customers to simplify the process of online banking for transactions, including bill payments and money transfers.

Alim Guliyev, First Deputy Chairman of Central Bank of Azerbaijan said – improving access directly improve access to universal financial services. Also, he said, this project helps to simplify many bank-related processes for individuals and business owners, especially in remote areas.

High fees, cost and time required traveling to the nearest bank branch often hamper access to reliable financial services such as TCM Financial Services for both individuals and businesses, particularly in remote areas. By digital service advent, our aim is to introduce models that deliver financial services at lower prices for Azerbaijan’s population.

For More information: TCM Financial Services