International Bank of Azerbaijan Introduces a Unique Financial Services Concept

Heralding a new stage in its development, the International Bank of Azerbaijan (IBA) unveiled a new innovative technology in early October by introducing ƏLA – Ən Lazımi Anda (At the Right Moment), a digital self-service banking branch concept.

Opened in Baku, this fully automated banking branch showcases capabilities unique not just in Azerbaijan but in the entire CIS territory. This innovative project was carried out in collaboration with Penkių kontinentų bankinės technologijos (BS/2), a Lithuanian company, and a member of the Penki Kontinentai Group. This digital branch is based on a VTM.iQ hardware & software platform that includes Diebold Nixdorf CS 6060 automatic teller safe, CuRiE (Customer Rich Experience) multifunctional terminal, and specific software solutions from BS/2. Mr. Elmir Habibullayev, Deputy Chairman of the Board, tells us about implementing this new technology at the bank.

What was the reason for the installation of a new digital branch at your bank?

In line with modern requirements in the financial sector, we put our efforts towards making the visits to our offices as comfortable as possible for our customers. Today we see fundamental changes in both the appearance and the format of bank offices: they have more self-service facilities and fewer personnel increasingly. We at the International Bank of Azerbaijan want to provide faster services to our customers and improve their quality. Therefore, the selected banking technology must meet the customers’ demands in full. The ƏLA – Ən Lazımi Anda (At the Right Moment) brand is a new IBA concept designed especially for our customers’ convenience. The bank will continue developing this concept.

This type of complex solution is the first one to appear on the CIS banking equipment market. Are there any similar solutions?

Currently, the moment, ƏLA digital branch is the only such hardware & software platform connected to the processing center and integrated with the banking system and has no analogs in Azerbaijan and other CIS states. We hope our customers will appreciate its range of features.

What services will be provided at the digital branch? How it differs from a regular terminal?

ƏLA customers can have online video conferences with our personnel and receive support. The customer can complete any banking operation – to open a bank account, to pay utility bills, to make an urgent money transfer, to take out a loan, etc. – just in a few minutes. There are a built-in printer and a scanner, so the customer can print an agreement, sign and scan it and then send it to the bank operator. The device can scan paper documents, ID cards and check the authenticity of ID documents. Also, the customer can order a bank card, immediately receive, activate it, and change its PIN code on the spot.

What services comprise the ƏLA – Ən Lazımi Anda (At the Right Moment) range?

The range of ƏLA services includes ƏLA Hotline (a video-chat hotline), ƏLAvə (a mobile application), ƏLA Delivery (urgent delivery of bank cards to the customer’s address), ƏLA Deposit, and ƏLAc Credit (refinancing of existing loans on more favorable terms). For ƏLA details, visit www.ela.az or our Facebook page at www.facebook.com/elabankaz.

What is the target group of ƏLA?

Due to the convenience and user-friendliness of the VTM.iQ hardware & software platform, the ƏLA branch may be targeted at almost any customer interested in modern service channels.

What are the perspectives for the development of such digital branches at IBA?

ƏLA digital branch is a completely new technology perspective on financial service that makes it possible to redefine our work principles with the customers. This complex solution format enables optimization and significantly reduces operating costs while maintaining the maximum range of operations. This new concept will allow us to extend our service area and become closer to our customers. In the immediate future, we are going to install another ƏLA branch at our IBA-24 round-the-clock branch.