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Digital Summer 2013

Published: July 4, 2013 | 6:34 pm
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digital summer 2013

Liberty Bank (the “Bank”) and the first Georgian start-up incubator SmartEx hosted Digital Summer 2013 party at Vitamin bar. The Bank presented a detailed information about the launched projects, achievements and innovations to its clients, partners and media.

Six new products and services were launched in the first half of 2013. The Bank has commenced partnership with companies in neighbouring countries, made one new investment in Georgia and three new investments in Europe and the United States.

Digital Summer 2013 party showed that Liberty Bank is probably the only Georgian bank which is oriented towards innovations. Other Georgian banks offer their clients traditional banking services, whereas Liberty Bank is trying to introduce new, innovative products and services.


Electronic wallet eMoney is one of such innovative products. It has established a partnership with an Armenian ewallet iDram and Georgian and Armenian currencies are convertible both ways. The Bank also has 480K PAY cards in issue and offers its partners white labelling services.


Liberty Bank is now the part of Chinese UnionPay and PayFair payment systems which underlines Liberty Bank’s pioneering tradition. The Bank has an issuing license from PayFair and an acquiring license from UnionPay. The Bank also has 1.7 million VISA and MasterCards outstanding.


Transferwise, whose representative demonstrated the instant money transfer service via Skype, contacted the Bank and SmartEx itself offering the partnership.

“The fact that SmartEx is being invited to conferences together with the founders of PayPal and initial Facebook investors shows that SmartEx is successful”, noted Lado Gurgenidze. Liberty Bank is focused on development of online services. For instance, clients do not need to go to the Bank’s branch for receiving a loan. They can simply fill in an online loan application and apply for a consumer loan or online instalment. Liberty Bank is the only Georgian bank which offers its clients online instalment service.


Liberty Bank is also the only Georgian bank which offers its clients and partners a USSD-menu driven mobile banking service SmartPay designed for any type of mobile device. Any MagtiCom subscriber can make utility bill payments, money transfers and other types of banking transactions without having an expensive smart phone.


Soon Liberty Bank will finish the launch of its Facebook store PayStore which will enable clients to upload the products, make and receive payments.

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