Global trade issues to boost demand for secure fintech solutions

Growing problems in global trade, logistics, and payments may increase the demand for secure fintech solutions that simplify the flow of funds, Chief Commercial Counselor of the Turkish Embassy in Azerbaijan Gülizar Yavaş said at an event organized by the Turkic States Fintech Alliance (TURKFIN) in Baku, Report informs.

Fintech will be one of the sectors where demand will be felt most acutely in the coming years, she noted.

"Since last year, a number of industry visits have been organized to Azerbaijan involving companies working in payment systems, digitalization, digital services, and finance. Various meetings have been held, and the number of such visits and interest in the sector are gradually growing," she said.

Yavaş pointed out that significant changes are taking place worldwide, which could exacerbate problems related to trade systems, logistics, and payments.

"Therefore, all countries need systems that facilitate the movement of funds while ensuring their security," the commercial counselor emphasized.

She also warned that external interference in digital services could pose risks to national security.

"Payment systems are no exception. The more open they remain to external interference, the higher the risks to the country's security," Yavaş stressed.