Thu, 26 February
10.1 C
Yerevan
USD: 377.04 RUB: 4.90 EUR: 444.91 GEL: 141.00 GBP: 510.36

Armenian banks will undergo mandatory audit of invested IT

YEREVAN, March 25. /ARKA/.Armenian banks will undergo mandatory audit of IT, said Executive Director of Union of Banks of Armenia Seyran Sargsyan during the first meeting of representatives of IT sphere with banking sector “IT2business”.
If Armenian IT companies want to work actively and closely with the banks, their products should be in accordance with international standards, particularly security issues.

The banks investing modern technologies and such products as human resource management, management of assets and security of operation systems.

Today the main operation programs implemented in 15-16 Armenian banks are the developments of two local companies which have broad opportunities for the development of further cooperation in external markets.

“Expenses of the banks for IT products depend on the certain program product but, we can say, that the banks spend money for the investment of new technologies promoting the introduction of new products and services in banking system”, said Sargsyan.

Executive Director of Union of Information Technologies (UITE) Karen Vardanyan said that today significant part of Armenian IT companies provide products corresponding international standards and serve rather responsible companies on the international level.

“There are many IT companies in Armenia ready to provide high quality products to the banks and the service will be available, easy and closer to the client”, said Vardanyan.

IT2business is organized with the purpose of continuation of different practical technological solutions for economy sectors and introduction of Armenian technological innovations to local business.

In the meeting, technical solutions for banking sphere will be presented by the companies iCON Communications, GNC-Alfa, Norq, CQG IMA, Shirak Technologies/SAP, Apaga Technologies, FlexAp, McAfee, EpygiArm, ArmSoft, Lime Tech, CHS Vericell, Damaris, Smart Tech, Alfa/Polycom.

The meeting is conducted with the support of Union of Banks and Central Bank of Armenia. -0-

spot_img

POPULAR

Euro and dollar exchange rates against the Armenian dram rose, while the ruble continued to decline: Central Bank

The average market exchange rate for the US dollar to the Armenian dram, determined on the Armenian foreign exchange market as of February 26, 2026, increased by 0.12 points compared to February 25, reaching 377.04 drams.

Net profit of Armenian credit institutions in 2025 increased 2.9-fold to 56.9 billion drams

The total net profit (after tax) of Armenian credit institutions in 2025 amounted to 56.87 billion drams, compared to 19.50 billion drams in 2024 (an increase of 2.9-fold, or 191.6%).

Armenia’s public debt net of liquid assets will remain stable at 44% of GDP in the medium term – S&P

Taking into account the narrowing budget deficits and high nominal GDP growth, the international rating agency S&P Global Ratings forecasts that Armenia's public debt net of liquid assets will remain broadly stable at a moderate 44% of GDP in the medium term.

Acba Bank places 10 billion dram-denominated bonds

Acba Bank has begun placing coupon-bearing book-entry bonds through a public offering for a total of 10,000,000,000 (ten billion) drams, the bank's press service reported.

Investment portfolio of Armenian credit institutions in 2025 exceeded 103 billion drams

The total investment portfolio of Armenian credit institutions at the end of 2025 amounted to 103.4 billion drams, according to the consolidated financial report of the country's credit institutions.

LATEST NEWS

spot_imgspot_imgspot_img