# Central Bank of Armenia choses Intellect’s Quantum Central Banking Platform for its Digital transformation
Author:  Pal Sinha, Barnali 
Author URL: https://financedigest.com/author/pal-sinha-barnali
Published: 2017-04-18
Category: NEWS
Category URL: https://financedigest.com/category/news
Meta Title: Revolutionising Central Banking with Intellect Quantum
Meta Description: Streamline business processes, real-time balance sheet, automation of operations with Intellect QCBS. Trusted solution for Central Bank modernization.
URL: https://financedigest.com/central-bank-of-armenia-choses-intellects-quantum-central-banking-platform-for-its-digital-transformationhtml

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_Progressive risk free modernization for full scope Central Banking in a single system_

Intellect Design Arena Ltd a digital financial technology product providerfor the banking and insurance, today announced that the Central Bank of Armenia (CBA), the primary financial institution in the Republic of Armenia, has selected Intellect Quantum Central Banking System for its Digital transformation.

Intellect’s Quantum Central Banking System will help Central Bank of Armenia to streamline its business processes across multiple departments and external entities. It will be able to generate the [balance sheet](https://www.financedigest.com/ecb-policymakers-back-jumbo-rate-hike-differ-on-balance-sheet-cut.html "ECB policymakers back jumbo rate hike, differ on balance sheet cut") in real-time and have comprehensive dashboards for integrated operation and prudential oversight, with no reconciliation hassles. Automation of operations will remove all unnecessary manual intervention in transaction processing. Intellect will work with its strategic partner for the region, Intracom Armenia, for implementation of this project. The Intellect Quantum [Central Banking](https://www.financedigest.com/central-banks-opt-for-shock-and-awe-to-tame-inflation.html "Central banks opt for shock and awe to tame inflation") System will be deployed along with complete currency life cycle management and comprehensive Treasury management solution.

Talking about the [technology transformation undertaken by the Central Bank](https://www.financedigest.com/transforming-the-retail-banking-ecosystem-its-all-about-technological-innovation.html "TRANSFORMING THE RETAIL BANKING ECOSYSTEM: IT’S ALL ABOUT TECHNOLOGICAL INNOVATION"), **Mr. VakhtangAbrahamyan, Deputy Governor, Central Bank of Armenia** said, “With the implementation of IntellectQCBS, CBA will have a robust and strategic backbone to support the renewal of banking systems in Armenia and across the region, thereby allowing new initiatives such as regional payment systems, to soon become a reality.”

Commenting on the win, **Mr. K. Srinivasan, President, APAC, IMEA & CIS Markets, Intellect DesignArena** said,“The Central Bank of Armenia choosing our Quantum Central Banking Solution re establishesour superior comprehensive offering and [specialization](https://www.financedigest.com/wedding-on-a-budget-planning-your-special-day-without-breaking-the-bank.html "Wedding on a Budget: Planning Your Special Day without Breaking the Bank") in the space of Central Bank modernization. We very much value the trust reposed in Intellect. This will help further our interests as well in the Region.”

Trusted by the [Central Banks](https://www.financedigest.com/two-speed-economy-in-sweden-central-bank-business-survey-shows.html "Two-speed economy in Sweden, central bank business survey shows") in many countries Intellect QCBS solution deploys an array of technology frameworks including Extreme Account Posting (XAP), Run Time Re Use (RTRU), and Look Ahead Processing (LAP) technologies. Intellect is the proud recipient of the Payments Provider of the [Year Award-2016 and Technology Provider of the Year Award-2015 at Central Banking](https://www.financedigest.com/bank-of-england-poised-to-raise-rates-by-most-in-33-years.html "Bank of England poised to raise rates by most in 33 years") Awards.


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