5 million users in one country — and a fintech story most people here have never heard. Live from Money 20/20 Riyadh. Joining me is Farid Huseynov, CEO of Bir — the Caucasus' first fully integrated banking, payments, and e-commerce ecosystem. Welcome to Wall Street to Mena.
Thank you very much.
Tell us what Bir actually is and what makes it different.
Bir is a big part of Azerbaijan's digital economy. Our ecosystem includes Bir Bank — our customer-facing banking brand — with many customers. But we also have a very interesting part of our story called Million, which is our cash terminal network. We see it as a transition from cash to the digital economy — from cash to e-wallets to full banking services. In this sense, Million is a bridge from the cash economy to the digital economy.
Many people in Azerbaijan still rely on cash. How do you push digital adoption without leaving those customers behind?
It is very much a hybrid model. When we transitioned from banking being the core to becoming a real ecosystem, there was a mind shift — a cultural shift. We are now focused not only on economics and products, but on customer centricity. When you are an ecosystem, you need to create a greater customer experience by merging banking, payments, and commerce together. And as a platform serving 5 million customers, inclusivity in every sense matters. One thing we are very proud of is how we have integrated sign language within our mobile application — making the platform accessible to every segment of people in Azerbaijan.
You are here at Money 20/20 for the first time. What made you make this trip?
I love it here. It is a very interesting conference in terms of uniting very different aspects of financial life — from the region itself and from abroad. I am very proud to represent Azerbaijan here because this region of the Middle East is important to us. We are looking at how it is developing and what we can learn from it. Money 20/20 is a good opportunity to connect investors, startups, and people looking for investments. And also to present Azerbaijan in such a big event.
Thank you so much for joining us.
It was a pleasure. Thank you.
