The Central Bank of Armenia (CBA) has selected Intellect’s Quantum central banking system (QCBS) for its digital transformation.
The new platform will help CBA to streamline its business processes across multiple departments and external entities. The bank will be able to generate the balance sheet in real-time and have comprehensive dashboards for integrated operation and prudential oversight.
The move will see the automation of operations, which aims to remove all unnecessary manual intervention in transaction processing. Intellect will work with its strategic partner for the region, Intracom Armenia, for implementation of the project.
Vakhtang Abrahamyan, deputy governor of CBA, said: “With the implementation of Intellect QCBS, CBA will have a robust and strategic backbone to support the renewal of banking systems in Armenia and across the region, thereby allowing new initiatives such as regional payment systems to soon become a reality.”
K Srinivasan, president of APAC, IMEA and CIS markets at Intellect Design, added: “The Central Bank of Armenia choosing our Quantum central banking solution re-establishes our superior comprehensive offering and specialisation in the space of central bank modernisation.”
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