Ameriabank organized Friday, October 30, a panel discussion on the use of remote banking services in Armenia.

Member of the Board of Directors, Retail Banking Director Arman Barseghyan said the discussion will focus on the use of remote control systems in banks and financial institutions, as well as their distribution, perspectives and development trends in Armenia.

“There is no alternative to widespread use of remote banking services in Armenia, but this will take time,” Barseghyan said, according to ARKA.

According to him, technologies have always been a major development factor, and the Armenian banks are no exception. Remote services in Armenia, he said, consist of processing systems, ATMs, online banking, mobile banking and phone banking.

"These systems do not require a customer to visit the bank, ensuring convenience, accessibility and time saving. They increase the productivity of banks creating more favorable conditions for clients in terms of rates and taxes," he said.

According to Barseghyan, widespread use of remote banking services in Armenia depends primarily on the welfare of the population. These services are currently unavailable to a certain segment of the population, especially outside the capital city where very few people use the Internet, smartphones and simple banking services.

Barseghyan noted, however, that the number of users of online banking is growing constantly and rapidly in Yerevan. “In any case, the new generation is sure to use those technologies," he said.

In response to a question by a PanARMENIAN.Net correspondent concerning the risks of remote banking, Barseghyan noted that alongside the development of technologies, risks are growing as well. He mentioned hacker attacks, in particular. However, according to him, risks of online fraud are very low in Armenia, all the banks being equipped with secure protection.

Barseghyan said, 15-20% of Ameriabank customers make use of remote services.

According to an Ameria study of 21 banks in Armenia, only three banks do not offer online banking services for individuals. A survey conducted in 11 cities shows that 2% of people used online banking in 2014 against the 1.3% in 2013.

Some 17.5% of Ameriabank individual customers have at least once used online banking service, while some 3.5% of them are active users. 24.2% of corporate clients use online banking services.

According to the head of Ameriabank's Technology and Operations unit, Burastan Movsisyan, remote services will change the banks’ functional orientation: they will be providing financial consultancy, while customers will no longer have to visit the banks to use remote services.

Information security expert and blogger Samvel Martirosyan cited security issued behind low popularity of remote banking services in Armenia. According to him, remote services in at least 4-5 Armenian banks are quite vulnerable.

He also mentioned that remote banking services aren’t user-friendly.