Central Bank of Armenia to implement Intellect QCBS

The digital transformation of the Central Bank of Armenia will include the use of Intellect’s Quantum Central Banking System (QCBS). The QCBS will modernize and streamline business processes across multiple departments at the Central Bank as well as for external entities which conduct business with the bank. The Central Bank hopes that, by automating its operations, it will effectively remove all unnecessary manual interventions involved in transaction processing. Once installed, the new system will allow the bank to generate balance sheets in real-time and will incorporate dashboards for integrated operations and prudential oversight. The QCBS will also include currency life cycle management and treasury management solutions for the bank. This innovation will lead to renewal of the banking systems in Armenia and across the region.