To be a trusted financial technology space with seamless solutions to improve the quality of life. As part of its digital transformation process, Ameriabank has been implementing comprehensive projects recently. The last press conference held by Ameriabank focused on the new features and prospects offered by Ameria Business digital platform, one of such projects.
Launched back in 2018, Ameria Business platform has been offering a number of services such as online account opening, online/mobile banking and online lending so far. Now the platform features a new service, i.e. a one-stop shop for online registration of individual entrepreneurs (IE).
“Visiting Business.ameriabank.am page, customers may register an IE, open an account with Ameriabank, order a card and get online/mobile banking system for free without visiting the Bank. All you need to register an IE is a passport and a social card or an ID card, an access to a scanner and a computer or smartphone with a camera. It will take you 20 minutes only to register an IE”, said Arpine Harutyunyan, a Project Manager at Ameriabank.
Karen Karamyan, Head of Business Banking Direction at Ameriabank, commented that Ameria Business platform embraces such services as scoring- and ML-based online lending, SME Tablet, account opening, free online/mobile banking, business card ordering and some other services, which is a one-of-its-kind offer in Armenia. He highlighted that the automated loan approval has been facilitated greatly due to the ability to obtain data on the tax turnover of the borrowers.
“This is a groundbreaking solution for Armenia, and global-wise there are very few banks that can offer automated loan approval based on the tax turnover. This is a first successful endeavor implemented jointly with the public system in the scope of Ameria Business digital platform”, summed up Karen Karamyan.
During the press conference Artyom Shamtsyan, Innovation and Digital Officer at Ameriabank, spoke on the ecosystem design approaches.
“We think about the IE life cycle today, the way they think, how and when they go for becoming an LLC, then how much time and what it will take for an LLC to become a mid-size business, then mid+ and finally a large business. How do the services develop along the way? We study what financial instruments and public services businesses need. Then we build our financial and non-financial services based on the insights received. Note that we cooperate with various partners in connection with the non-financial services. All these efforts make our platform an ecosystem since it integrates the services of multiple organizations”, detailed Artyom Shamtsyan.
Yet another novelty to be offered by Ameria Business platform is online registration for LLCs.
According to Arman Barseghyan, Retail Banking Director at Ameriabank, only 4 percent of Ameriabank’s transactions is currently performed at the branch offices. “This means that we could take 96% of all the transactions off the branches, and they are mostly performed through self-service terminals or digital channels. This clearly indicates the pace of digitalization”, he added.
The new solutions rolled out on Ameria Business platform have had a positive impact on the retail business indicators of the bank. Namely, the number of customers has doubled over the past 3 years, up by around 55% YtD, the loan portfolio has doubled during the same period, up by around 28% YtD, while the number of online/mobile banking users has grown 3.5 times over the past 3 years, up by 51% during the 9 months of this year. Note that 73% of Ameriabank’s retail business loans is approved online.
Ameriabank CJSC
Ameriabank is a leading institution of Armenia and a major contributor to the Armenian economy, with assets exceeding AMD 1 trillion. Being a dynamically developing universal bank, Ameriabank provides a large package of innovative banking services through its omni-channel distribution platform – an ecosystem, and with clear focus on digital products.
The Bank has adopted a customer-focused approach to ensure service quality and modern banking experience in an evolving digital environment.
Ameriabank is committed to doing business responsibly and advancing Armenia’s transition towards a sustainable future.