AzFina acts as a partner in the "Open banking" project initiated by the Central Bank of the Republic of Azerbaijan according to the "Digital payments strategy" action plan. Application programming interface (hereinafter – API) is a set of procedures, protocols and tools used to develop software. API defines the mechanisms for establishing interactions between information systems. Opportunities created by Open Banking Open Banking has the potential to achieve positive results in the banking sector by changing the policy approaches of many banks in the financial services ecosystem. For example: Open Banking enables the formation of new business models that meet customer expectations by further revitalizing the competitive environment in the banking sector; Open Banking allows expanding the scope of bank products and services provided as a result of the formation of partnership relations between banks and non-bank organizations in the banking sector; Open Banking leads to positive trends in the application of innovative solutions in the provision of banking products and services; Open Banking enables more effective and efficient integration processes by implementing reliable and standardized APIs that ensure seamless communication with third parties.