HSBC Bank Armenia digitalizes cooperation with retail clients 

ArmInfo.Flow of bank clients to online mode suggests digital transformation of business. The players of the Armenian banking sector have followed the new rules by  actively transferring to the digital format firstly corporate and  retail services, which are in the greatest demand.  

For now, only large banks and subsidiaries of foreign financial institutions can  afford comprehensive digitalization of business. HSBC Bank Armenia  CJSC (HSBC Armenia) is one of the banks, which has launched phased  digitalization of its retail services focusing first and foremost on  the products that are in high demand. Over time, all the banking  transactions will be transferred to digital environment, which  envisages constant update of security levels for ensuring the most  up-to-date criteria of safe remote customer service. Head of Retail  Banking and Wealth Management of HSBC Armenia, Mihran Muradyan told  about the digitalization of services in HSBC Armenia in an interview  to ArmInfo's correspondent. 

How are things going with digital banking? How popular is it among  Armenian clients of HSBC Bank?

As of today, more than half of our customers use digital services.  Meanwhile, 79% of customers carry out daily banking transactions in  digital mode through mobile and internet banking. At the moment, the  number of mobile banking users increases rapidly.

Could you name the remote retail services of HSBC Bank Armenia?  And  why these services have been switched to online mode? How high is the  level of protection for remote customer service?

The list of digital services provided by HSBC Armenia includes the  most demanded and non-cash financial transactions, in particular  transfers, opening of term deposits and safe communication with the  bank. All transactions that can be carried out in digital mode and  are not forbidden by legislation will be eventually digitalized. 

As for the security it should be noted that HSBC Armenia constantly  works on updating the protection levels for maintaining the most  up-to-date criteria of safe remote servicing of clients. In  particular, in the framework of the digital banking services  development strategy HSBC Armenia implements large-scale investment  projects. Soon our clients will be able to use more customized and  convenient mobile and internet banking services. The bank stays  committed to its policy of ensuring maximum security to protect its  customers from fraud. 

Which retail services provided by the HSBC Armenia are the most  demanded among clients? What are the reasons for that?

The retail banking services of HSBC Armenia are aimed at meeting the  daily banking needs of people at the same time ensuring high level of  security, uninterrupted customer service, and compliance with the  international standards of corporate ethics. Among the targeted  products and services such as mortgage loans, the ones that are most  popular are current accounts, savings accounts, card products, online  and digital service packages - Internet, mobile and telephone  banking.  

Retail loan portfolio of HSBC Armenia demonstrates more significant  growth than the dominant corporate one. What were the reasons for the  bank's decision to activate retail lending?

Relatively high growth of retail lown portfolio of HSBC Armenia in  2018 is determined by two key factors.  The first one is a noticeable  activation of real estate market, especially in the second half of  the year. The second factor is more competitive and transparent price  policy along with more efficient lending mechanisms implemented by  the bank. In 2019, HSBC Armenia also plans to introduce more  attractive offers that cater to the constantly changing needs of  customers.  

Judging from the diversification of HSBC Armenia's loan portfolio it  can be concluded that the investments are mainly concentrated on  corporate clients of the industrial sector, trade, public catering  and services, and SMEs, while the share of retail lending is about  22% with a focus on mortgage. What is the reason for this approach? 

Being a member of HSBC Holdings plc.,  HSBC Armenia, actively  contributes to sustainable and balanced development of Armenia's  economy. Within the framework of its development strategy, the Bank  will continue expanding its activities in three main directions.  Along with corporate banking services and financial market  operations, we provide a wide array of banking services to customers  including young individuals, newlyweds and professionals  supporting  them in purchasing an apartment or a house and improving their living  conditions.