Digitalization and transformation are not desirable but mandatory- Ameriabank

YEREVAN, April 4. /ARKA/. Ameriabank Retail Banking Director Arman Barseghyan said that the bank has been in the process of digital transformation for approximately 7-8 years, of which the last 2-3 years have been very intensive.

"In our view, classical banks and, in particular, our bank have become a fintech company. Some 90% of transactions are done outside of branches, just under 50% of sales and services are done in digital ways, but this pace is changing rapidly as well. We expect that by the end of the year, more than 60% of sales will be done outside branches," Barseghyan said during the Doing Digital 2024 forum.

He also noted that 95% of loans to SMEs are issued digitally and only 5% of retail loans have a paper component.

Barseghyan said also that digital transformation is a must without which it will be difficult for any business to perform well. He added that users are getting adapted to changes faster than the bank expected. -0-