YEREVAN, March 2. / ARKA /. ACBA-CREDIT AGRICOLE BANK has installed ACBA TOKEN application for creating single-use passwords for logging to ACBA ON-LINE system for management of bank accounts

According to a bank’s press release, ACBA ON-LINE  was first introduced back in 2009 in tune with ACBA-CREDIT AGRICOLE BANK’s policy of improving the quality of services and bringing in innovative solutions.

Previously, when logging to ACBA ON-LINE customers could create one-time passwords only by using the TOKEN device. Now, customers can use their smartphones running on iOS or Android to create passwords  by using the ACBA TOKEN application. The app allows customers to manage their bank accounts at any time from anywhere in the world.

Corporate customers can use the new application  to create one-time passwords and  log in to a system that enables them to manage accounts of several companies they own. Earlier corporate customers had to have devices for each account.

Customers can switch to ACBA TOKEN application without having to visit the bank. They need only to visit  a section  on ACBA ON-LINE’s website called "replacing mobile token.’

ACBA ON-LINE service enables customers to manage their accounts online 24 hours a day, including opening of  current accounts, placing deposits, repaying loans, applying for overdrafts and commercial lines of credit, make remittances,  apply for consumer loans and deposit-secured lines of credit, pay for goods bought on installment plan, pay utility bills and send applications for a certificate.

ACBA was established in 1996 as part of EU’s TACIS program. As a result of a long-term and mutually beneficial cooperation between ACBA Bank and the French Credit Agricole the latter became the biggest shareholder of ACBA in 2006, September. ACBA was restructured, becoming a closed joint stock company and was renamed ACBA CREDIT AGRICOLE BANK.

According to the latest data, the bank’s assets in 2014 grew to 286.4 billion drams; its liabilities grew to 237 billion drams, while its capital fell to 49.37 billion drams. The bank closed 2014 with a loss of 4.6 billion drams against a 4.9 billion dram profit in 2013. ($1 – 478.6 drams). -0-