Armbusinessbank to create in-house processing center

26.03.2012 15:52
Armbusinessbank to create in-house processing center

YEREVAN, March 26. /ARKA/. Armenian Armbusinessbank said it has chosen BPC Banking Technologies, the leading provider of Open System e-payment solutions for the global financial industry, to implement its award winning e-payments solution SmartVista to build an in-house processing center.

According to the press release, to meet current market demands the Bank was looking for a scalable, comprehensive solution to manage its card products, ATM network, authorization switching, billing, card production, fraud prevention, loyalty programs and merchant management. In particular, Armbusinessbank planned to introduce an innovative card strategym, including new credit and debit card products.

Previously relying on an outsourced solution the Bank decided to take direct control over its payments business – a key strategic focus within its retail banking operation. SmartVista was chosen due to its proven market performance in Armenia as well as its ability to support all aspects of Armbusinessbank’s payments requirements. Additionally, SmartVista will enable the Bank to introduce new products quickly and easily, reduce its TCO and enhance the management of its ATM and merchant networks. BPC will also install SmartGuard, its comprehensive fraud prevention solution and SmartLoyalty, the sophisticated loyalty application.

“The migration of our card business to SmartVista is an important step in our development of new card products and services. We will be more independent and flexible in bringing new card programs to market and will enjoy additional competitive advantages in the retail financial services market,” the press release said.

“We are proud that SmartVista has been chosen by Armbusinessbank for its in-house processing centre; this further advances our market penetration in Armenia. BPC enjoys a growing reputation in the CIS and worldwide based on the breadth and depth of the SmartVista suite. We are looking forward to working with Armbusinessbank to realize its innovative payments strategy,” Vasily Grigoriev, CEO, BPC Banking Technologies, was quoted as saying.

Armbusinessbank is a universal bank providing financial services to corporate and private clients. It is a member of international payment systems SWIFT, Anelik, Contact, Money Gram, Fast Mail, Migom, Interexpress, local payment system ArCa as well as MasterCard and Visa International. -0-


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