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Western Style Banking in Armenia
http://asbarez.com/112628/western-style-banking-in-armenia/
Friday, August 9th, 2013
Ameriabank
BY VICTORIA ARARATIAN
YEREVAN (PanArmenian) - Armenia is moving forward with its western style
banking system - the use of debit/credit cards now being very much in
style. Presently, all commercial banks in Armenia offer various types
of plastic cards yet the quality of service varies. The customers do
get tempting offers. Many banks manage to attract new clients, yet
very few are able to maintain the relationship by meeting their needs
with affordable pricing. Hrachya Malkhasyan, the Head of Ameriabank's
Regional Branches, in this interview with a PanARMENIAN.net
journalist, shares his professional insight on clients' needs and some
of the ways that banks succeed or fail to support them.
PANARMENIAN: Currently, all commercial banks in Armenia offer various
plastic cards. How do you meet the competition in this market?
HRACHYA MALKHASYAN: The competition in this field isn't just tough -
we are seeing `price wars.' Ameriabank follows its course, trying to
avoid these wars as they seem to be ineffective in attracting clients.
We eye the business through the prism of each client's needs and
thereby build communication channels and product line. First, we value
quickness and quality of service, as well as profitable lending
conditions. We also try to develop infrastructure, specifically by
increasing the number of ATMs and POS terminals. Here, a unique role
is given to the bank's image and the brand, which helps attract
clients without being dragged into the so-called price struggle.
Special attention is paid to bolstering security to rule out any
possibility of leaks, a condition highly appreciated by the clients. I
would like to emphasize that Ameriabank highlights quality, starting
with the presentation of an application and through the entire service
process.
Also, Ameriabank card holders now profit from a special deal
Ameriabank has with more than 250 sales outlets. With their Ameriabank
cards our clients are able to get a 50% discount in all of the 250
sales outlets that Ameria has partnered with.
PA: What does Ameriabank do to make credit and debit cards more
available for the population?
HM: Ameriabank is one of the leaders in Armenia's banking system in
terms of its ATMs and POS terminals. Now our customers have access to
90 ATMs across the country - 68 in Yerevan and 22 ATMs conveniently
located outside the capital. We work with many tourists from the
Diaspora. We want to make sure they have western style banking support
when they visit our historic sites, be it Dilijan, Tatev or
Tsaghkadzor. They can easily have access to an ATM when needed at
these sites. When in Yerevan, we welcome our customers to one of our
six branches in the capital. In addition, we have three branches in
the regions. Ameriabank also has an established branch in Stepanakert,
Artsakh.
PA: Western style banking also suggests the use of apps on smart
phones. Is Ameriabank there yet?
HM: I would like to note that Ameriabank is the first Armenian bank to
have an application available via the Apple Store. Once you download
the Ameriabank app, you are immediately connected to currency exchange
rates, news, and the locations of the bank's branches and ATMs. The
Ameriabank app also has an interactive map.
Ameriabank offers a mobile application through the Apple App. Store
AP: With cashless payments gaining popularity in Armenia, what results
did the bank achieve for card transactions for the first half of 2013?
HM: In the second quarter of 2013, we have witnessed 8% growth for
card use versus the first quarter. In total we have released 42,000
cards. With the new app, increased ATMs, guaranteed quality of
service, and visits by Diaspora Armenians, we are looking at 50%
growth in cards for the rest of the year.
PA: What are some of the new programs and services that the bank
offers or will offer to its card holders?
HM: Now our customers can have both debit and credit cards with
advantageous interest rates versus single-type cards. Also the service
fees for credit and debit cards have been considerably reduced, and we
offer an overdraft protection service. In the mid-term we're planning
to develop loyalty programs that will give additional incentives to
our clients for using Ameriabank's services.
Despite the challenges and severe competition in the market of bank
cards, Ameriabank is stepping up to develop the plastic card culture
among the Armenian population, offering new approaches and secure
terms of use.
Ameriabank has received a number awards in the 2012-13 fiscal year
Ameriabank is a leading universal and retail bank with 68 ATMs in
Yerevan and 22 ATMs outside the capital of Armenia. The bank has
branches in Yerevan, provincial regions, and Stepanakert, Artsakh.
Ameriabank, a member company of Ameria Group, is a winner of multiple
global financial awards. It is the only financial institution in the
South Caucasus to be recognized as a Global Growth Champion at the
DAVOS World Economic Forum for its exceptional growth and expertise.
With more than 500 employees, $600 million in assets, and branches
across the country, Ameria is performing the most aggressive
development in Armenia's financial and advisory market.
http://asbarez.com/112628/western-style-banking-in-armenia/
Friday, August 9th, 2013
Ameriabank
BY VICTORIA ARARATIAN
YEREVAN (PanArmenian) - Armenia is moving forward with its western style
banking system - the use of debit/credit cards now being very much in
style. Presently, all commercial banks in Armenia offer various types
of plastic cards yet the quality of service varies. The customers do
get tempting offers. Many banks manage to attract new clients, yet
very few are able to maintain the relationship by meeting their needs
with affordable pricing. Hrachya Malkhasyan, the Head of Ameriabank's
Regional Branches, in this interview with a PanARMENIAN.net
journalist, shares his professional insight on clients' needs and some
of the ways that banks succeed or fail to support them.
PANARMENIAN: Currently, all commercial banks in Armenia offer various
plastic cards. How do you meet the competition in this market?
HRACHYA MALKHASYAN: The competition in this field isn't just tough -
we are seeing `price wars.' Ameriabank follows its course, trying to
avoid these wars as they seem to be ineffective in attracting clients.
We eye the business through the prism of each client's needs and
thereby build communication channels and product line. First, we value
quickness and quality of service, as well as profitable lending
conditions. We also try to develop infrastructure, specifically by
increasing the number of ATMs and POS terminals. Here, a unique role
is given to the bank's image and the brand, which helps attract
clients without being dragged into the so-called price struggle.
Special attention is paid to bolstering security to rule out any
possibility of leaks, a condition highly appreciated by the clients. I
would like to emphasize that Ameriabank highlights quality, starting
with the presentation of an application and through the entire service
process.
Also, Ameriabank card holders now profit from a special deal
Ameriabank has with more than 250 sales outlets. With their Ameriabank
cards our clients are able to get a 50% discount in all of the 250
sales outlets that Ameria has partnered with.
PA: What does Ameriabank do to make credit and debit cards more
available for the population?
HM: Ameriabank is one of the leaders in Armenia's banking system in
terms of its ATMs and POS terminals. Now our customers have access to
90 ATMs across the country - 68 in Yerevan and 22 ATMs conveniently
located outside the capital. We work with many tourists from the
Diaspora. We want to make sure they have western style banking support
when they visit our historic sites, be it Dilijan, Tatev or
Tsaghkadzor. They can easily have access to an ATM when needed at
these sites. When in Yerevan, we welcome our customers to one of our
six branches in the capital. In addition, we have three branches in
the regions. Ameriabank also has an established branch in Stepanakert,
Artsakh.
PA: Western style banking also suggests the use of apps on smart
phones. Is Ameriabank there yet?
HM: I would like to note that Ameriabank is the first Armenian bank to
have an application available via the Apple Store. Once you download
the Ameriabank app, you are immediately connected to currency exchange
rates, news, and the locations of the bank's branches and ATMs. The
Ameriabank app also has an interactive map.
Ameriabank offers a mobile application through the Apple App. Store
AP: With cashless payments gaining popularity in Armenia, what results
did the bank achieve for card transactions for the first half of 2013?
HM: In the second quarter of 2013, we have witnessed 8% growth for
card use versus the first quarter. In total we have released 42,000
cards. With the new app, increased ATMs, guaranteed quality of
service, and visits by Diaspora Armenians, we are looking at 50%
growth in cards for the rest of the year.
PA: What are some of the new programs and services that the bank
offers or will offer to its card holders?
HM: Now our customers can have both debit and credit cards with
advantageous interest rates versus single-type cards. Also the service
fees for credit and debit cards have been considerably reduced, and we
offer an overdraft protection service. In the mid-term we're planning
to develop loyalty programs that will give additional incentives to
our clients for using Ameriabank's services.
Despite the challenges and severe competition in the market of bank
cards, Ameriabank is stepping up to develop the plastic card culture
among the Armenian population, offering new approaches and secure
terms of use.
Ameriabank has received a number awards in the 2012-13 fiscal year
Ameriabank is a leading universal and retail bank with 68 ATMs in
Yerevan and 22 ATMs outside the capital of Armenia. The bank has
branches in Yerevan, provincial regions, and Stepanakert, Artsakh.
Ameriabank, a member company of Ameria Group, is a winner of multiple
global financial awards. It is the only financial institution in the
South Caucasus to be recognized as a Global Growth Champion at the
DAVOS World Economic Forum for its exceptional growth and expertise.
With more than 500 employees, $600 million in assets, and branches
across the country, Ameria is performing the most aggressive
development in Armenia's financial and advisory market.