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UNDP contributes to the digitalization of Turkmenistan's banking sector

UNDP contributes to the digitalization of Turkmenistan's banking sector

UNDP and Gosvnesheconombank of Turkmenistan are jointly implementing a project aimed at supporting the digitalization of the banking sector. The project includes training to familiarize Turkmen banks with mobile and Internet platforms developed for them. Experts of international level participate in the event.

With the tools of the digital banking platform, financial institutions will be able to reformat the traditional service into a more modern one. Since the digital banking platform is quite an important system, banks should take a responsible approach to making the best decision. The training will help Turkmenistan's financial institutions to implement and launch new digital services more quickly and efficiently.

Implementing the digital strategy, the bank strives to achieve the highest possible performance indicators for its new products. After analyzing the bank's business goals, experts formed a program that will be used for training. It is based on best practice recommendations for digitalization of the banking sector and has three components:

  • working with clients by using new financial products and services, as well as optimization of this process by banks;
  • activities aimed at improving safety;
  • online banking.

Each of the topics of the training is revealed through the practical experience of Russian financial institutions.

Experts participating in the implementation of the program of digitalization of the banking sector of Turkmenistan note that its implementation will result in the formation of a quality basis for the subsequent development and scaling of the banking business. In addition, it will promote establishment of cooperation of financial institutions with both the state and the private sector. In addition, the bank will launch new types of services faster.

The implementation of digital solutions and innovations by Gosvnesheconombank of Turkmenistan and other banking institutions of the country is carried out on the basis of state programs for the development of the digital economy and the development of the financial, economic and banking sectors of the country.

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