Bank Technique OJSC is among a few banks standing out in the private banking sector with its successful and rapidly developing rates. After performing re-branding in 2012, Bank Technique created an image of innovative financial institution. Offering a wide range of banking and financial services the Bank stably ranks among the top 10 largest Azerbaijani banks in terms of major indicators. The Bank is one of the most rapidly developing financial-credit institutions of Azerbaijan. 

Concept 

The concept of development of Bank Technique has been based on three components: modernity, feasibility and innovations. The Bank has always adhered to the principles of transparency and openness in its work with clients. A wide service network covering, besides the Head Office, 32 branches and 13 departments promotes provision of services practically in the whole territory of the republic. 

The financial institution closed the past 2013 with the profits worth 3 mln 737 thousand AZN that is an indicator of successful development and the basis for increasing the capital of the bank in future. Thus, the overall capital totaled 61 mln 855 thousand AZN at the beginning of 2014. Meanwhile, the adequacy ratio equals to 13.23%. The Bank has practically managed to exceed the minimum ratio in accordance with the requirements of the Central Bank, totaling 12% in the country today. At the same time, the quick ratio of the Bank equals to 58%. It is considerably higher than the CBA’s minimum requirement set at the rate of 30%. The authorized capital of the bank totaled 75 mln 100 thousand AZN at the beginning of 2014, that points to the sustainability of the bank and ambitious plans in the market of Azerbaijan. 

Bank Technique is not simply a financial institution as it possesses the insurance agency Alfa Sığorta OJSC playing a leading role in the insurance market, and the brokerage company Texnika Kapital Menecment LLC actively involved in the securities market. In general, these organizations are ready to provide full package of financial services to their clients. 

Online-banking 

The banking sector is moving towards introduction of information-communication technologies. Clients are broadly getting used to conveniences that IT sector provides. Bank Technique believes that the development of the banking sector is entirely associated with the development of online services enabling clients to make all necessary financial-credit and other payments in a split second. Throughout the whole past year the specialists of the bank worked mainly over the creation of the infrastructure for introduction of the most advanced online-banking system. After completing all preparatory work, in February the Bank launched the most advanced system of remote bank account management system TechniqueOnline that created solid foundation for further development. The necessity for visiting bank departments has practically fallen out after introduction of this full-function system. TechniqueOnline does not lag behind world analogues and includes functions that had not been available online in Azerbaijan before. TechniqueOnline enables clients to apply almost the whole range of remote cashless services provided by the bank as well as perform over 60 different banking operations. 

Besides, it is also noteworthy that the online-banking service was created in accordance with the highest quality and security standards in cooperation with the world leaders of this sphere. It underlies solutions of the Oracle Company, the biggest developer of the software for companies. The security of the system was set together with PricewaterhouseCoopers (PWC). Identification keys are supplied by the VASCO Company, the leading supplier of solutions and services for authentification and electronic digital signature. 

Taking the abovementioned into account, we may confidently say that the created online-banking system must justify all hopes and ensure comfortable and safe service. 

Display cards 

The introduction of online banking sets an urgent challenge to protect the data of customers. Customarily either a telephone (one-time code is sent by means of sms) or a special hardware token is used to ensure security of applications of Internet banking, but it does not ensure a due level of security. Nowadays Bank Technique can bindingly ensure the full protection of personal data and accounts of all its customers. In order to protect operations in online banking and ensure the highest level of security the bank has been the first in the country to introduce banking cards with a display (display cards) enabling operation of a mechanism of single-use passwords without additional devices. In addition to a chip and magnetic tape such card has an integrated generator of one-time codes and a small LCD display that displays a one-time code for conducting operations. A display card is a unique innovative product in the field of banking technologies that combines the functions of a usual banking card with the potential of a token to generate single-use passwords. Technically it looks like the following: when the cardholder presses the button, the display shows a special access code for the identification procedure. The card has an independent power supply source exceeding the service life of the card and can be used everywhere. 

Using display cards in the process of online operations is strongly recommended by VISA and MasterCard payment systems. 

Bank Technique is pleased to offer the Azerbaijan society a modern, technological and unique product and hopes for a quick distribution of new cards ensuring a due security level. The bank intends to keep on introducing intellectual online solutions into its activities and is currently implementing a number of serious projects that enable to strengthen the positions and imply a technological development of the bank. 

In line with the approved strategy, the bank will continue work on improving its financial performance and the positions in the local market as well as development of innovations-oriented products. The bank stays committed to a sustainable growth implying introduction of innovative solutions for enhancing business performance.            

New head office 

The successfully implemented rebranding in Bank Technique was followed by adopting a new strategy on geolocation of branch banks and banking facilities. The location of branch banks in Baku and the regions was changed and new points of service opened. 

The decision to change the building for bank’s head office with a view to the growing number of clients and scope of work was also made. In early February 2014 the head office of Bank Technique OJSC moved to a new administrative building located at the address: 16 Babek Avenue, Baku.

The five-storeyed building repaired according to the new set of colours of the bank, equipped in line with the last technological standards and completely meeting the up-to-date requirements of the banking business will enable to optimize and improve all activities of the bank. The first floor in the new building completely aimed for customer service. Unlike the old building, the waiting room is much wider there and conditions for customer service are more comfortable. Clients are offered the full range of banking services: loans for individuals and legal entities, opening of deposits, debt and credit cards, money transfers, payment and cash services, cash payments acceptance, opening bank accounts, lockbox services, etc. 2 ATMs are available 7/24 in the new office building.

Construction of the new large office once more proves that the bank feels confident in the market and has the widest prospects for the future.