Yerevan/Mediamax/. ARMBUSINESSBANK will implement its award winning e-payments solution SmartVista, as an in-house processing center,

This is stated in the report by BPC Banking Technologies, the leading provider of Open System e-payment solutions for the global financial industry. The report particularly says:

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, in the nearest future ARMBUSINESSBANK plans to introduce an innovative card strategy including new credit and debit card products.

Previously relying on an outsourced solution, the management of ARMBUSINESSBANK 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.

After the end of migration, 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.

In the future, 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,” said Ara Kirakosyan, Chairman of the Executive Board of ARMBUSINESSBANK.

“We are proud that SmartVista has been chosen by ARMBUSINESSBANK for its in-house processing centre. This is our third project in Armenia which further advances our market penetration in Armenia,” added Vasily Grigoriev, CEO, BPC Banking Technologies.