IDBank Participates in Regional Conference of the Union of Banks of Armenia

ArmInfo.  IDBank took part in the conference titled “Opportunities and Prospects for Cooperation between Business and the Banking System in Lori Region”, held in Vanadzor.

Placing strong emphasis on close cooperation with businesses in the regions, the Bank continuously strives to remain accessible across Armenia, offering both new solutions and innovative financial instruments tailored to business needs.

“Supporting SME lending and development is one of the key priorities of the Bank’s strategy. Considering that economic activity is largely concentrated in the capital, businesses in the regions require special attention. In this direction, we are taking significant steps by ensuring our presence across nearly all regions and introducing innovative digital tools,” said Mher Abrahamyan, Chairman of the Management Board of IDBank.

Several years ago, IDBank launched its IDBusiness Mobile application, providing businesses with access to a wide range of financial services in a single platform.

More recently, the Bank introduced a new and exclusive financial solution — IDDistributor.

“At the time of delivery, the delivery person enters the payment details in the IDDistributor application and generates a QR code. The retail outlet then scans this QR code using the IDBusiness Mobile application and completes the payment either from the funds available in the company’s accounts with IDBank or through the innovative Rocket Distributor credit limit.

The payment is processed instantly, and the funds are immediately transferred to the supplier company’s bank account, becoming available to the supplier or manufacturing company and ensuring the speed and smooth continuity of the processes,” added Mher Abrahamyan.

IDBank also participated in the conference expo titled “Banks and Business in Vanadzor”, where attendees had the opportunity to explore banking financing programs, engage directly with sector representatives, and discuss opportunities for business development.