Embracing the latest technology to build a smarter, more inclusive banking future

Unibank has played a central role in Armenia’s financial development. How would you describe its place in the market today?

We are positioned in the market as a retail bank. Our goal is to stay as close as possible to our customers, most of whom are retail clients and small businesses. We have one of the largest networks in Armenia, with 52 branches across the country. One in three working Armenians is served by our bank. We have more than 300,000 unique loan customers.
At Unibank, we don’t aim to be the biggest or the strongest bank. Our primary goal is to be close to our customers and to offer simple, easy-to-understand products that genuinely help people. Ultimately, our goal is to ensure our clients maintain healthy finances and enjoy a safe future.

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How has Unibank used innovation to expand retail banking and support financial inclusion?

When we started in 2001, our primary focus was on person-to-person transfers, which still accounted for about 50 per cent of the market a few years ago. We are the market leader in person-to-person money transfers. Thanks to the implementation of artificial intelligence technology in credit scoring, the bank continued to actively develop and expand mass lending, maintaining its leadership position in the number of POS loans.

UBPay platform offers a robust and intuitive API, making it seamless for banks and remittance firms to integrate our money transfer services. UBPay, our remittance and settlement system that already accounts for more than 24 per cent of Armenia’s market, with a goal to reach 55 per cent by 2027. It is one of the most ambitious projects in our history.

What digital and AI-driven services are shaping customer experience at Unibank?

As a leader in the number of POS loans in Armenia, Unibank applies AI-driven credit scoring technology in its consumer loan processes. The scoring system, based on 25 years of Unibank’s statistical data, enables faster and more efficient credit decisions — within just one minute.
We are using special AI systems in our call centres, including speech-to-text applications to perform post-call checks… We also use these technologies in our Telegram channels for our customers, where they can even help each other by sharing experiences and advice. These innovations make it possible for us to handle client needs faster, with higher efficiency and greater trust in the quality of service. Digitalisation is no longer optional; it is the future of modern banking.

What opportunities does Unibank see for investors and in which areas?
We have a special branch, Unibank Privé, which is for private banking clients. Unibank Privé is more than just banking. It’s a trusting relationship and exclusive privileges to help our clients achieve their wealth goals. As a dynamically developing and reliable bank, Unibank shares are a long-term and profitable option for investing savings.

Armenia is very friendly and safe, not only leisure, but also safe for investments. For 20 years, we have not had any cases of bankruptcy in the Armenian banking sector. Banking is a very regulated sector in Armenia and anybody investing in Armenia can rest assured that their money is safe with good efficiency.

How important are regional and international partnerships for Unibank’s growth?

Partnerships are vital. We are always looking to expand collaboration with financial institutions in the Gulf, as Armenia can be a bridge for investment and trade. Our focus is on building trust and long-term relationships that bring benefits to both sides.