Armenia can position itself as a regional center of digitization and a major hub for financial technologies. Chris Skinner, an international digital transformation and FinTech expert, told reporters on Wednesday at the Doing Digital Forum in Yerevan.

According to him, it is extremely important to understand how the world is being digitized and transformed, and it is very important to bring this understanding of transformation and digitalization to Armenia.

"There are two reasons for that. First, if countries in this region do not engage in digitization and transformation, they will lose competitive advantages in the economy and fall behind other countries in the region. Secondly, among the countries of the region, Armenia can position itself as a regional center of digitalization and the main hub of financial technologies, FinTech," he said.

When asked what the trends are promoting digital transformation today, Skinner answered that it is extremely important for banks and the country's leadership to take the lead in implementing this transformation.

"If the management of a financial institution does not realize this, then it will not happen. Not only the management of the bank, but also the leadership of the country should take the lead in terms of digital transformation: the prime minister, the deputy prime minister, the governor of the central bank. In order for Armenia to become a regional center of digital transformation, it is necessary that the state leadership also realizes this and takes the lead. The fact that the Deputy Prime Minister and the Governor of the Central Bank [of Armenia] are represented at this forum shows that the leadership of the country has this perception and the commitment has been made so that this digital transformation takes place," he said.

According to Chris Skinner, digital transformation is not a top-down function, it must be distributed equally and understood and implemented at all levels, otherwise nothing will be achieved. According to him, there are many problems related to digital transformations; there are groups of people in large companies who are concerned that their jobs will be threatened by digital transformation.

"For example, you are journalists. Imagine that artificial intelligence can write your articles for you. This can apply to different areas. For example, the CEO of Deutsche Bank said, ‘If all my employees were accountants, I could digitize them all.’ If you're sending that kind of message, you're doing everything you can to stop the digital transformation ‘train.’ But the companies that I work with, they try to make sure that their employees are not idle. They organize qualification courses, etc. for them,” he said.

Chris Skinner is the keynote speaker at the Doing Digital Forum: He is an international digital transformation and FinTech expert and is one of the most influential technology and financial markets experts and best-selling authors in the world today. Skinner is also the founder of The Finanser consultancy, and author of a number of books on financial technology and banking, including Digital Human, Digital Bank, The Future of Banking, and ValueWeb.

Skinner is a keynote speaker at leading international FinTech conferences and events, presenting his views on the latest developments in the industry and the future of digital transformation. The Doing Digital Forum provides a unique opportunity to host and listen to him in Armenia.

Within the framework of the forum, more than 15 speakers—from the Singapore University of Social Sciences, Forbes, Visa, Apricot Capital, Revytech, Hexens, Beta Financial Technologies, ICDT Global companies, as well as from the Armenian government, SPRING PR, and Ameriabank—will share—through speeches and panel discussions—their knowledge and vision as well as best practices in business and digital technology.

Speakers at the Doing Digital Forum will talk about how to use digital transformations for business growth, use new technologies to achieve competitive advantage, talk about data protection and cybersecurity risk management, and successful digital transformation initiatives. Cryptocurrencies, Metaverse, NFT, potential sources of income and risks associated with them will also be covered.

The Doing Digital Forum is for everyone interested in digital transformation, its implementation, and the development of the digital economy, including business leaders, IT professionals, startups, investors and venture capitalists, PR, marketing and sales professionals, government employees, etc.

The innovation partner of the event is Visa, the investment partner is Apricot Capital, and the information partner is NEWS.am Tech.