Converse Bank to support fintech startups

ArmInfo."Sevan Startup Summit 2018" launched in Sevan  on July 22,  where  Converse Bank is involved as a sponsor and a supporter in the  capacity of financial service provider to the participants of the  event.

"In the days of the summit the cash circulation will be limited in  the region.  The transactions will be made only with payment cards  and for that purpose the POS terminals of Converse Bank have been  placed in the pavilions.  The participants can simultaneously obtain  payment cards at the Bank's pavilion, and make cash-ins or payments  through the payment terminals of the Bank," Converse Bank Special  Project Development Manager Stepan Arzumanyan said. 

In addition, Converse Bank has initiated presentation of ideas for  FinTech startups this year, the  best idea among which will receive a  financial support from the Bank.  "The involvement of Converse Bank  in Sevan Startup Summit is hardly incidental.  We prioritize  innovative thinking and introduction of novel approaches in the  economy, and we are confident it is thanks to young people with  pioneering views that we will have a brighter future.  That is why  the Bank's support to startups will go beyond this initiative.   Converse Bank is planning to make investments in this industry  shortly," Converse Bank CEO Artur Hakobyan said.

In particular, it was mentioned that Converse Bank was willing to  discuss and implement  specific projects with FinTech companies to  create co-branded products and services.

Converse Bank has been operating in the Armenian market since  September 1996. As of April 1, 2018, the Bank's shareholders are  Advanced Global Investments LLc (hands-Eduardo Ernekian) - 80.94%,  HayPost Trust Management B.V. - 14.06%, the Cathedral of the Holy  Echmiadzin - 5%.