Euromoney on Converse Bank’s Digital Transformation and "Armenia’s Best Digital Bank for Consumers" Award

ArmInfo. Euromoney is one of the most authoritative international periodicals in the financial sector, and its Awards for Excellence are globally recognized as one of the most prestigious evaluations of banking achievements and successes in the industry.

The organization has published an article highlighting the progress and achievements of Converse Bank’s digital transformation, which recently earned the Bank the title of "Armenia’s Best Digital Bank for Consumers" at the Euromoney awards ceremony.

In the article, Euromoney outlined the key pillars of Converse Bank’s digital advancement, specifically emphasizing:

• Expansion of digital services: Thanks to the development of the Converse Mobile and C360 platforms, customers can access and manage more than 15 services within a single digital ecosystem.
• Growth in online transactions: During the reviewed period, the number of active app users increased by 17%, with approximately 70–80% of all transactions executed through the mobile application.
• Transaction speed: The average account opening time was reduced from 5 minutes to approximately 20 seconds, driven by the implementation of biometric identification and automated KYC (Know Your Customer) processes.
• Increased share of digital sales and lending on digital platforms: The share of retail product sales via digital channels saw significant growth.
• Digital lending development: The introduction of automated scoring systems and pre-approved online lending accelerated loan processing and contributed to a 16% growth in the retail loan portfolio.
• Enhanced operational efficiency: As a result of digitalization, over 100,000 documents were signed electronically each month.

According to Euromoney’s assessment, these developments reflect Converse Bank’s consistent efforts toward perfecting the digital banking experience, broadening service accessibility, and setting new standards for customer service.

In developing and refining its digital solutions, Converse Bank also prioritizes the adoption of global best practices and the expertise of industry leaders. Specifically, for the integration of online identification, customer registration, and account opening processes in the Converse Mobile app, as well as for the architecture of the C360 platform and customer behavior analysis to design customer-centric offers, the Bank partnered with Visa Consulting, leveraging top-tier international experience and expert advisory support.

The full article is available on the official website of Converse Bank.