Digitization, including in the banking system and financial services sector, is inevitable, stated the Deputy Chairman of the Central Bank of Armenia Armen Nurbekyan.
"The imperative is that customers should receive high-quality services while spending a minimum amount of time. From this perspective, there is undoubtedly no alternative. As the Central Bank, we emphasize that this should not happen at the expense of security. The most important thing is to have quality technological solutions that will allow us to provide higher-quality services more quickly without jeopardizing people's financial data and overall security," he told journalists on Friday at the 4Future Banking forum, as reported by the "ARKA" agency.
According to Nurbekyan, banks have done significant work in the field of digitization, but at the same time, there is even more room for action, particularly in terms of investments.
"The Central Bank always encourages investments from the banking system specifically in this area because it is primarily about knowledge, which is the subject of competition. All companies, not just financial ones, are 'hunting' for technological talents and good solutions. And this means the necessity of investments and having long-term thinking," he said.
The second 4Future Banking forum, organized by Earlyone, involves IT companies offering cutting-edge solutions in the financial-banking sector – from AI to cybersecurity and fintech. The purpose of the event, attended by representatives from nine countries, including Russia, Georgia, Moldova, Uzbekistan, Tajikistan, and Kyrgyzstan, is to create a platform for exchanging information and establishing cooperation channels.
