Wednesday, November 19 2014

 The first mobile bank in Armenia - mConverse - officially launched its services on November 18, Raffi Kassarjian, Head of Strategy and Business Development, Member of the Management Board at Converse Bank, said at a press conference on Wednesday. mConverse is an absolutely unprecedented offer for the Armenian market of e-commerce. 

Kassarjian said that mConverse is a mobile banking application designed for Android and iOS-based smartphones. The software enables the customers to make banking operations and mobile trade regardless of time and location. "mConverse allows the Converse Bank customers to manage their accounts, make money transfers, follow the currency quotations, make utility payments via smartphones at any time and in any place", he said. He added that the customers can also pay for the goods and services, familiarize themselves with the discounts at the trade outlets and join loyalty programs. 

The key advantage of mConverse is the possibility to make payments through a smartphone. The customers can pay for shopping at the trade outlets, as well as for services at restaurants and cafes, which cooperate with Converse Bank. Kassarjian pointed out that mConverse also enables the customers to learn the exchange rates and the location of the nearby branch and ATM of Converse Bank.  

After downloading the application on the smartphone and registering in the system, one can also use it on a PC. The trade outlets can also make use of this application to accept payments and send payment orders directly to a customer's application. The payment order can be sent to the customer's mobile number by scanning the QR-code or through NFC. The money will be transferred to the seller's account opened at Converse Bank immediately after the buyer confirms the payment order. 

The operation of mConverse is ensured by latest-generation standards of internet security and wireless communication. The software is based on DOOCAT designed and developed by the Technology Center of Excellence/Energize Global Services and Gallery Systems. Kassarjian said that mConverse enjoys high- level security. If a customer loses his/her mobile telephone, he/she can block his/her personal account in mConverse via the Internet. The application has a login and a password. Furthermore, the switch to other mobile applications is accompanied by automatic logoff of mConverse. 

Kassarjian pointed out that to enable mConverse, the Converse Bank customers are to visit the Bank to undergo the identification procedure. At the moment, the service can be enabled at the Bank;s head office only, but the customers will shortly be able to activate it at all the branches in Yerevan and further in the marzes. 
To recall, at the annual Digital Business Forum held in Yerevan on 21-22 June, Converse Bank presented not only mConverse, but also other products such as Visa Virtual Account and eCommerce.

To note, "Converse Bank" CJSC was founded in 1993. The shareholders of the Bank are "Advanced Global Investments" LLC (95%) and the Mother See of Holy Etchmiadzin (5%). The Bank has 35 branches, with most of them being in the marzes.