ArmInfo. In the nearest future serious technological changes are expected in the international financial system, including in Armenia.
On April 9, executive director of the Union of Banks of Armenia (UBA) Seyran Sargsyan told reporters on the margins of a seminar dedicated to the topic "Digital Transformation and Monetization of Data in the Banking System", which is initiated by the SBA and the Armenian office of Microsoft Innovation Center.Answering the question of ArmInfo, he explained that today the overwhelming majority of Armenian banks in their strategies noted the intention to follow the path of digitalization of products and services. In this vein, S. Sargsyan stressed that banks gradually introduce serious technological solutions. "Banks attach importance to this and follow international trends. Moreover, they are in readiness to introduce them into the banking system of Armenia,> the SBA executive director stressed.At the same time, he noted that digitalization is a permanent process for banks, since technologies are constantly evolving, new systems are being created, and in order to keep up, we must constantly be in the process.
"Competition, customer requirements, in particular, high demand for technology, and the need to improve the efficiency of the system are pushing banks to take the path of digital transformation," he said.In addition, according to S. Sargsyan, the digitalization process has not yet resulted in job cuts, on the contrary, in recent years there has been an increase in the staff of the banking system. At the same time, he noted that with time, as a result of the transformation, some specialties will lose their relevance. However, according toS. Sargsyan, new jobs will be created, in particular, requiring related knowledge in the field of IT and finance. "I hope that a certain reduction in jobs will lead to the creation of new ones," he added.In turn, the representative of the Armenian office of Microsoft Arthur Varderesyan, answering the question of ArmInfo, noted that Armenian banks meet all the requirements of international standards, in particular, from the point of view of risk management and ensuring cybersecurity.
"It can be said that Armenia is one of the first countries in the region where they were able to correctly assess the risks associated with cybersecurity in accordance with international standards," he stressed. Speaking about the objectives of the seminar, A.Varderesyan noted that within the framework of the event organized jointly with the Union of Banks of Armenia, trends and technologies in the international banking system will be presented to help Armenian banks to more rapidly transform into digital and innovative.
