“Birbank Biznes is a more user-friendly and flexible digital banking system”
The digitalization of the products and services offered to entrepreneurs has been a major focus of Kapital Bank's recent large-scale projects. The bank's primary objective is to offer business owners fully digital banking services. Today, a business owner's most valuable asset is his time. On the basis of this concept, Kapital Bank introduced a new digital banking platform for businesses called Birbank Biznes. Note that Birbank Biznes is an updated brand of the previously used Müştəri Bank system. So what features does Birbank Biznes have? What other innovations await entrepreneurs? To get answers to these and other questions, we interviewed Farid Hidayatzadeh, Board member, Chief Corporate Sales Officer at Kapital Bank.
- Mr. Hidayatzadeh, along with traditional retail banking services, Kapital Bank now provides a variety of brand-new goods and services for business owners. What can you say about the state of this field at the moment?
- The expansion of digital services, particularly mobile banking, is one of Kapital Bank's top priorities for this and the upcoming strategic period, which covers 2024-2026. Many of the products and services we offer in the business and corporate segment, as well as in the retail sector, have already moved online, and this process is still in progress. Currently, 99% of transfers and payments made by entrepreneurs are made through digital platforms. We have made it possible to receive 100% of applications for funding and business products through online channels. More recently, customers have been able to acquire tender and cash-backed guarantees entirely online through Birbank Biznes. More than 95% of business accounts are opened remotely. Kapital Bank was the first in Azerbaijan to offer microloans fully online. Today, about 50% of microloans are issued through digital channels.
When discussing the current state of products and services, I would like to highlight the Mobile POS service, which was one of the first in our region to allow entrepreneurs to accept contactless payments via mobile phones. We added installment feature to the Mobile POS service this year. Mobile POS is currently ordered three times more than traditional terminals. In addition, our bank provides a choice of tariff packages for entrepreneurs to save on banking fees, allowing clients to better manage their business income.
- What technical solutions can Kapital Bank offer to save time for entrepreneurs? What are the benefits of the newly presented Birbank Biznes?
- As I previously stated, our bank places a high value on the advancement of digital banking. As you may be aware, the Müştəri Bank system, which was at the disposal of entrepreneurs, was completely updated and turned into Birbank Biznes. Surely, this update means more than just a name change. The number of digital products available has grown, consumer interfaces have gotten more user-friendly, and transaction processing times have improved. I would like to note some of the benefits and features of the upgraded system. Customers of Birbank Biznes can now make urgent payments. VAT is calculated automatically on payments. Services such as the delivery of business and salary cards to the address allow the customer to save even more time. Customers can also pay and use credit lines, as well as overdrafts, at Birbank Biznes. Entrepreneurs may now cash funds from their current accounts at any Kapital Bank ATM without having to visit a branch with the newly established QR-cashing option from the current account.
In addition, Birbank Biznes supports urgent transfers, GPP payments, ordering and delivering business cards, e-commerce, the “Click to Pay” service, document circulation, mass signing of documents, business loan clearance, bank guarantees, customs credit card, the Open API platform, joining payroll project, ordering, delivering, and toping-up payroll cards, live chat, which allows users to get answers to their questions and much more.
- What innovations await Birbank Biznes customers in the future?
- Currently, our focus is on new and innovative solutions. We seek to provide our customers with a more convenient and adaptable digital banking system. In the near future, we intend to introduce services and functionalities to Birbank Biznes, such as Mobile cashiers and installment cards for entrepreneurs, as well as improve online lending for business. Let me also mention that Birbank Biznes is intended to evolve into a system that gives entrepreneurs remote access to any sort of banking service in the field of business.
It should be noted that the easy-to-use and safe Birbank Biznes app is supported by both iOS and Android operating system devices. Follow the links https://onelink.to/ej5bbu to download the app or https://my.birbank.business to access the web version of Birbank Biznes.