ArmBusinessBank creates a processing center based on SmartVista products

BPC Bank Technologies, a provider of payment solutions for the global financial industry, announced in March 2012 that ArmBusinessBank (Armenia) has chosen the SmartVista family of products to build a fully functional processing center.

As noted, in order to instantly respond to the opening market opportunities, the bank decided to switch to a modern scalable solution for managing card products and terminal devices, relationships with trading enterprises, routing authorization, billing, card production, fraud prevention and loyalty programs. In the near future, ArmBusinessBank intends to implement an innovative strategy for the development of the card business, which includes a number of new products.

The management of ArmBusinessBank, which previously used an outsourcing model, decided to build its own processing center to ensure control over the key processes of managing the card business within the bank. The choice in favor of the SmartVista family of products was made due to the compliance of BPC solutions with all the requirements of ArmBusinessBank's payment business development strategy, as well as the presence of successful experience in the implementation of projects in Armenia, BPC Bank Technologies reported. After the migration is complete, the bank's management expects to gain additional market advantages related to the ability to quickly launch new products on the market, reduce the total cost of ownership of the system and improve the efficiency of managing the network of terminals and trading enterprises.

In the future, BPC Bank Technologies will introduce solutions for fraud prevention (SmartGuard) and the implementation of comprehensive loyalty programs (SmartLoyalty), which are part of the SmartVista family of products, at ArmBusinessBank.

"The migration of the bank's card business to the SmartVista platform will be the starting point for the creation of new payment products and services. Greater independence and flexibility in the withdrawal of new card programs is our additional competitive advantage in the retail services segment, "said Ara Kirakosyan, Chairman of the Board of ArmBusinessBank.

According to Vasily Grigoriev, CEO of BPC Bank Technologies, this is the third BPC project in Armenia, which contributes to strengthening the company's position in the country. "We are ready to support the implementation of ArmBusinessBank's payment strategy to solve all the tasks facing the bank," he added.