"Ziraat Bank Azerbaijan" OJSC and AXA MBASK started cooperation in the field of automation of processes!

In 2016, Financial Markets Supervision Chamber of the Republic of Azerbaijan adopted a decision on Non-Cash Payments of Insurance Remunerations. With the view of stimulating non-cash payments, "Ziraat Bank Azerbaijan" OJSC and AXA MBASK companies, having well-known international financial institutions as shareholders, started cooperation in the field of automation of processes. Thus, "Ziraat Bank Azerbaijan" developed a new solution for bulk remuneration of insurance payments by AXA MBASK company. For the application of the solution, the systems of both companies were integrated. The payments are signed via e-signature, collectively transferred to the system of the bank and the payment is executed by "Ziraat Bank Azerbaijan" online, after receiving "Bulk Payment" order from AXA MBASK. Insurance payments are carried out in bulk, regardless of the number of customers, to the submitted bank details.

Thanks to the implementation of "Bulk Payment", both companies will save time and increase customer satisfaction by making more prompt insurance payments of customers.

It should be noted that "Ziraat Bank Azərbaycan” is operating since 2014, on the licence of the Central Bank of the Republic of Azerbaijan No 255 and has the most sustainable bank of Turkey, “T.R. Ziraat Bank” JSC, which has 153-year history, as its sole shareholder.

The bank, which operates in 17 countries of the world in 97 branches, launched its corporate banking direction from the early days of operation, and made significant strides in the direction of financing foreign trade between Azerbaijan, Turkey and other countries.

Being one of the largest insurance companies of the world, AXA Group, started its activity in our country in 2010 under the name of AXA MBASK, after acquiring the majority of the shares of one of the first private insurance company of independent Azerbaijan, MBASK Insurance Company, which was functioning since 1992. 

According to the results of Best Global Brands 2016 rating, AXA brand was selected as the number one insurance brand in the world for 8 consecutive years. AXA operates in 64 countries. The group has more than 166 000 employees and 103 000 000 customers all over the world.