Inecobank summing up Sevan Startup Summit 2019

Official press release by Inecobank

One of the most anticipated technology events of the region – Sevan StartUp Summit 2019 – has come to its end. More than 120 startups from about 45 countries around the world came together to present their ideas, developed and excel their projects, meet with industry leading experts. And the best ideas competed in “Big Battle” competition to receive awards from Inecobank. As the General Sponsor of Summit, Inecobank awarded financial rewards to Thermoscan, CowNet, and XpressBook startups.

 “Summit is a unique platform, which enables to meet initiative individuals who have wonderful ideas. Within these few days, we got to know different startups, heard about innovative and out-of-box solutions, and had the opportunity to share our own experiences with them”: said Aren Naltakyan, Development and Marketing Director. “For the past 23 years, Inecobank has always believed that the right application of the latest and most innovative technologies in any business, particularly in the financial and banking sector, is a guarantee to the development and efficiency”

Highlighting the day-to-day role and developments of the technology sector, Inecobank sponsored Sevan StartUp Summit 2019, with an to support establishment and development of innovative ideas.

“During the 4 years of the Summit, it has become one of the most beloved and anticipated events in the industry. The Summit organizer, Startup Armenia Foundation, spares no effort to improve the even more and more each year, and provide even greater opportunities to the participants. During the Summit, we met many interesting and knowledgeable young people, shared our own experience and skills. Summit is a great platform for sharing new ideas and making establishing acquaintances,” said Inecobank's Chief Financial Officer Hayk Voskanyan.

Being one of the leading fintech companies, Inecobank will continue to support the establishment and development of the technology sector in Armenia, contributing to the sustainable growth of the economy.

Inecobank CJSC is one of the leading banks in the South Caucasus region, focused on individual customers, small and middle market businesses and large corporations offering a full range of commercial banking services including break through and innovative digital banking solutions. For over 22 years the bank has been providing unmatched convenience in Armenia serving more than 500 000 customers and over 200 000 online users. 

Inecobank developed and delivered industry-leading digital banking solutions with the purpose of introducing an entirely new culture of banking services.

·         In 2009 the Bank digitalized and fully automated the “Point of Sale Loan” product, reducing the loan generation time from 3-4 days to a few minutes.

·         In 2012, with the introduction of InecoOnline, the Bank was one of the first to provide 24/7 banking services to its customers.

·         In 2014 the Bank launched InecoMobile, its Mobile banking application, which is the most popular banking application in Armenia with over 100,000 users.

·         In 2017, the Bank was the first to introduce a fully automated consumer lending solution through its mobile and online applications, which generates consumer loans 24 hours a day, 7 days a week.

·         In 2018, the Bank was the first banking institution in Armenia to introduce InecoPay, the cashless payments new system.

·         The first fully digital Bank in Armenia, which provides complete digital solutions to individuals, such as payments, lending, savings and other 24/7 services.