ArmInfo.The main focuses of the Central Bank's attention are cooperation with the private sector, the development of infrastructures and data. Governor of the Central Bank of Armenia Martyn Galstian stated this during the Doing Digital forum.
In the context of cooperation with the private sector, Martin Galstyan noted the importance of evenly distributing risks between the private and public sectors, emphasizing in this regard that the private sector must overcome the risks associated with uncertainty.
Speaking about the development of infrastructures, the head of the Central Bank emphasized that assistance to enterprises and households in increasing their efficiency should be included in the main functions of the latter.
< And our third focus is data. In today's world, business models are driven by data. And, therefore, we need to make sure that we have a level playing field in consumer systems>, Galstyan said.
He noted that the Central Bank also focused on expanding the fiscal framework. This, according to the chairman of the Central Bank, involves a major change in thinking. <We are trying to make the transition from forecasts about the future to possible scenarios and risk management. But we should not be alone on this path, so we involve the private sector so that they can develop strong infrastructures>, Galstyan explained. The Central Bank Governor also spoke about plans to establish a national banking ID system, for public and private use, investing in cybersecurity capabilities, in the context of systems and processes, and personnel.
"We are mobilizing public and private capacity to provide a sustainable layer of cybersecurity," he said. The Central Bank, as Martin Galstyan noted, also initiated an assessment of the existing payment infrastructure. "We want to strengthen the systems so that they are sustainable, strong and integrated so that they can meet the needs of all Armenian citizens," he added.
At the same time, the head of the Central Bank drew attention to the fact that transactions in the digital economy continue to grow, which may be a threat to financial stability. Given these risks, the Central Bank plans to create effective real-time tools that will allow it to respond to challengers related to financial stability. In this regard, Galstyan said that at the moment the possibility of increasing the role of companies providing services in the context of overcoming risks is being discussed.
On April 5 The Doing Digital Forum (https://doingdigital.am/) started in Yerevan, which brought together more than 20 leading international and Armenian experts in the field of digital transformation on one platform. The Forum is organized by SPRING PR, co-organized by Ameriabank. The Key speaker of the forum is Chris Skinner, a well-known international expert on digital transformation and fintech.
The event aims to bring together industry leaders to identify the latest digital transformation trends and share best practices. DDF aims to be the best platform for discovering new ideas and technologies, forming professional connections. Within the framework of the forum, Armen Harutyunyan (Singapore University of Social Sciences), David Kincsem (McKinsey), Elena Tofanyuk (Forbes Russia), Dylan Kaloo (Visa), Nerses Yeritsyan (Agency information systems of Armenia Fund ). DDF speakers also include Ruben Muradyan (Hexens), Vakhtang Abrahamyan (Fastex), Vachik Gevorgyan (Apricot Capital), Tigran Simonyan (Revytech), Ararat Mkrtchyan (Beta Financial Technologies), Maksim Mikhalev (ICDT Global), Suzanna Shamakhyan (FAST) , as well as representatives of the Government and the Central Bank of Armenia. Artyom Shamtsyan, Director of Innovation and Digitalization at Ameriabank, and Hovhannes Torosyan, Chief Financial Officer at Ameriabank , will share their experience in the field of digital transformation.
