As one of the leading financial institutions in Azerbaijan, Xalq Bank’s mission is to provide customers with modern, convenient and beneficial financial services. However, the limitations of its incumbent payment landscape meant that Xalq Bank was struggling to keep up with the fast-changing needs of consumers and their appetite for digital financial services, so it decided to
embark on a major project to modernise its card back-office system.
The bank chose to migrate its card infrastructure to TranzAxis, the open development payments platform from Compass Plus Technologies, as it fully met all Xalq Bank’s criteria, as well as providing the bank with the flexibility to develop new products and services quickly and ensuring seamless integration with third-party providers. With more than half of financial institutions operating in Azerbaijan already utilising Compass Plus solutions in different ways (including in-house and outsourcing), the software vendor’s strong reputation was one of the major criteria to make a decision.