Ameriabank offers two new services as part of digital development strategy
07.03.2018,
14:12
Ameriabank has presented two new services as part of its digital development strategy.
“It was announced a few years ago that retail business development is one of the strategic focuses of Ameriabank,” Arman Barseghyan, retail business director, told journalists on Tuesday. “Now we provide two new consumer lending services, particularly scoring loans and installment loans.”
“It was announced a few years ago that retail business development is one of the strategic focuses of Ameriabank,” Arman Barseghyan, retail business director, told journalists on Tuesday. “Now we provide two new consumer lending services, particularly scoring loans and installment loans.”
YEREVAN, March 7. /ARKA/. Ameriabank has presented two new services as part of its digital development strategy.
“It was announced a few years ago that retail business development is one of the strategic focuses of Ameriabank,” Arman Barseghyan, retail business director, told journalists on Tuesday. “Now we provide two new consumer lending services, particularly scoring loans and installment loans.”
Minimum Paperwork – Maximum Automation
Speaking about scoring loans, Barseghyan said that Ameriabank presented Tuesday at the financial market an unprecedented offer – online formalization of consumer loans.
In his words, clients can receive loans amounting from AMD 100,000 to AMD 10 million in a few minutes without any collateral or guarantee.
No service commission will be taken before March 31.
“I mean quite large loans,” he said. “Clients can have decision on the loans without submitting papers and without waiting for the bank’s analysis. Loans are available in the bank’s branches or through online and mobile banking, if the client is an Ameriabank card holder.”
Barseghyan said that provision of such large amounts is a novelty for the local market.
“We gave clients an opportunity to enjoy almost full range of consumer lending without loan analysis and submission of documents,” he said.
The retail business director said that this scoring system offer applies also to card services. Consumer loans are available in drams, and card services in drams, dollars and euros in case of overdrafts.
Loan for Ameriabank clients are formalized online, and after formalization money is transferred to the current account of the borrower, and those entities who are not Ameriabank clients, after loan confirmation should visit the bank for signing the loan contract.
”I’d like to say that confirmation reception, assessment and decision-making process and loan provision are completely automated,” Barseghyan said.
To Shop for Loan
Barseghyan said that Ameriabank tested shopping financing system (installment loan service) one month earlier.
“The minimum size of a loan is 100,000 drams, and maximum 1.5 million drams,” he said. “Decision-making process is automated completely as well.”
He said that the service provided in cooperation with five partner organizations allows clients to apply for a loan, formalize and receive it at the very place where they do their shopping.
Barseghyan said that the number of partner organizations will grow.
”Of course, there are some exemptions that make it necessary to visit the bank,” he said adding that this is necessary for identifying the clients if they are not Ameriabank card holders.
In his words, more than AMD 3,000 loans have been extended since the bank started providing this service.
“This means that the first test stage has already been passed,” he said. “Clients showed interest in the service and now it is necessary to expand and boost it at the market.”
The director said that the bank is planning to come up with new initiatives as part of its digital strategy, which will be presented to the market in the next few months.
Interests, Repayment and Risks
Barseghyan said that the interest rate on the installment loans will not exceed 24%, and nominal rate on scoring loans will be around 21%.
“These are quite reasonable interest rates,” he said.
As for repayment terms, everything will depend on the cost of the bought item. The repayment term may reach 60 months.
In his words, all possible risks have been considered by the bank.
“But experience shows that a complete understanding is possible only a little later, when the received results will be tested by practice,” he said.
Barseghyan stressed that appropriate corrections will be done to maintain an optimal risk-to-profitability ratio.
Ameriabank CJSC is a universal bank providing investment, corporate and retail banking services in a package.
Ameriabank is the first investment bank in Armenia. It started providing a wide range of innovative banking services in 2007. --0---
“It was announced a few years ago that retail business development is one of the strategic focuses of Ameriabank,” Arman Barseghyan, retail business director, told journalists on Tuesday. “Now we provide two new consumer lending services, particularly scoring loans and installment loans.”
Minimum Paperwork – Maximum Automation
Speaking about scoring loans, Barseghyan said that Ameriabank presented Tuesday at the financial market an unprecedented offer – online formalization of consumer loans.
In his words, clients can receive loans amounting from AMD 100,000 to AMD 10 million in a few minutes without any collateral or guarantee.
No service commission will be taken before March 31.
“I mean quite large loans,” he said. “Clients can have decision on the loans without submitting papers and without waiting for the bank’s analysis. Loans are available in the bank’s branches or through online and mobile banking, if the client is an Ameriabank card holder.”
Barseghyan said that provision of such large amounts is a novelty for the local market.
“We gave clients an opportunity to enjoy almost full range of consumer lending without loan analysis and submission of documents,” he said.
The retail business director said that this scoring system offer applies also to card services. Consumer loans are available in drams, and card services in drams, dollars and euros in case of overdrafts.
Loan for Ameriabank clients are formalized online, and after formalization money is transferred to the current account of the borrower, and those entities who are not Ameriabank clients, after loan confirmation should visit the bank for signing the loan contract.
”I’d like to say that confirmation reception, assessment and decision-making process and loan provision are completely automated,” Barseghyan said.
To Shop for Loan
Barseghyan said that Ameriabank tested shopping financing system (installment loan service) one month earlier.
“The minimum size of a loan is 100,000 drams, and maximum 1.5 million drams,” he said. “Decision-making process is automated completely as well.”
He said that the service provided in cooperation with five partner organizations allows clients to apply for a loan, formalize and receive it at the very place where they do their shopping.
Barseghyan said that the number of partner organizations will grow.
”Of course, there are some exemptions that make it necessary to visit the bank,” he said adding that this is necessary for identifying the clients if they are not Ameriabank card holders.
In his words, more than AMD 3,000 loans have been extended since the bank started providing this service.
“This means that the first test stage has already been passed,” he said. “Clients showed interest in the service and now it is necessary to expand and boost it at the market.”
The director said that the bank is planning to come up with new initiatives as part of its digital strategy, which will be presented to the market in the next few months.
Interests, Repayment and Risks
Barseghyan said that the interest rate on the installment loans will not exceed 24%, and nominal rate on scoring loans will be around 21%.
“These are quite reasonable interest rates,” he said.
As for repayment terms, everything will depend on the cost of the bought item. The repayment term may reach 60 months.
In his words, all possible risks have been considered by the bank.
“But experience shows that a complete understanding is possible only a little later, when the received results will be tested by practice,” he said.
Barseghyan stressed that appropriate corrections will be done to maintain an optimal risk-to-profitability ratio.
Ameriabank CJSC is a universal bank providing investment, corporate and retail banking services in a package.
Ameriabank is the first investment bank in Armenia. It started providing a wide range of innovative banking services in 2007. --0---
