In March-July 2020, during the pandemic, Araratbank reported a 50% growth of ARARATMobile app users, compared to 2019.

According to the bank, the relevance and importance of the application was underscored even more during the COVID-19 pandemic, when the number of daily transactions and users experienced a boom in the virtual world.

“ARARATMobile application is a combination of simplicity and comfort, suitable for everyone, regardless of their age and occupation. This app is available free of charge on the Google Play and/or App Store.

ARARATMobile application provides a wide range of possibilities, enables customers to manage their own accounts remotely, avoid bearing unnecessary transport expenses, filling out applications, waiting in lines, and enjoy incomparably low commission fees and discounts.

- Account opening with no commission fee charged
- Currency exchange at a more favorable exchange rate
- Card-to-card transfers within seconds from local as well as international cards at an incomparably lower commission fee
- А full-service packagedesigned for drivers in section "My cars" (Insurance (CMPTL), property tax, and Road Police traffic fines)
- Property tax payment and issue of technical inspection coupons without visiting the district administration
- Submitting a statement to the RA State Revenue Committee with no commission fee charged
- Submitting applications
- Queue management
- Call order
- Viewing detailed information about custody and corporate accounts
- Topping up of the current account from the linked card,” the bank said in a press statement.

ARARATMobile application also provides an opportunity to view detailed information on branches, ATMs, as well as transfer money through the COVID-19 option to fight the pandemic. Moreover, 161 users have already had their contribution.

“Araratbank has adopted a customer pocket-tailored tariff policy. That is, when executing transactions via the app, customers enjoy lower commission fees and discounts than if they visited the bank to execute the same transactions: 5% discount for concluding insurance (CMPTL) contracts online, 0.15% commission fee charged for card-to-card transfers, no upfront fee charged for loan consideration. Moreover, all ArCa cardholders, who are not Araratbank customers, can download and use ARARATMobile application, enter the section “Login without registration” and transfer money from card to card within seconds. As you can see, everything has been done for user-friendly service, remote registration with 3D secure system, and, therefore, for the prevention of coronavirus,” said Gayane Stepanyan, Head of the Digital Banking Department.