Investing from anywhere anytime has become a crucial digital transformation trend: Vachik Gevorgyan

The first “Doing Digital Forum – Exploring Digital Future” will be held in Yerevan on 5 April to study the current trends and best practices around the digitization process in Armenia and globally, discuss failures and challenges, and outline solutions. The Doing Digital Forum’s founder and organizer is SPRING PR Company, co-organizer - Ameriabank.

Ahead of the forum, NEWS.am Tech organizes a series of interviews with the speakers of the forum. Vachik Gevorgyan, the CEO of Apricot Capital, also shared their vision of participating in the event.

How do you define digital transformation, and why do you think it's crucial for businesses and various industries today?

The financial industry in Armenia has traditionally been more paper-based and less technology-oriented. Nowadays, when customers are increasingly demanding modern solutions, digital transformation has become inevitable. The rise of challengers such as neobanks, algo trading firms, and robo-advisors has made it even more difficult to stay competitive without being transformed into a digital yourself.

As representatives of the investment sector, for us, digital transformation is more about transforming into a data-driven business model, which allows us to reduce manual processes, increase the efficiency and overall security of operations. Equally important is providing a digital customer experience. No customer nowadays will want to visit you physically to open an account or submit a paper order. This is history already. We are embracing digital transformation to ensure seamless customer service.

What are some of the most significant trends or technologies driving digital transformation now and outlined in the future?

I see mobile-first design as one of the most significant trends driving digital transformation now and in the future. With the increasing use of mobile devices to access information and complete transactions, businesses develop intuitive and easy-to-use mobile apps to deliver their services.

Another big trend that will become even more important in the future is the recent developments in Artificial Intelligence. As AI solutions are becoming more sophisticated, investment companies will be able to provide personalized investment consulting optimized to meet specific investment goals.

What advice would you give to entities just embarking on their digital transformation journey?

My main advice for businesses embarking on digital transformation is to be patient and commit to the long-term journey. Transforming an existing business is not an overnight process, and it can be challenging, even more challenging than building a digital business from scratch. It's essential to carefully select a team with the right mindset, expertise, and willingness to tackle the obstacles that arise.

What main topics will you discuss in frames of DDF?

The main discussions will revolve around the use of cloud-first IT infrastructure in the context of the regulatory environment (especially data privacy). I will also be excited to talk about mobile investing and the growing popularity platforms that enable investors to manage their portfolios while on the go.

What benefits can participants expect to gain from attending the forum?

Having worked in the Armenian investment industry for over 15 years, I cannot recall a major event in Armenia that has been solely dedicated to technological and digital transformation. This presents a unique opportunity for all participants to learn about current trends in digital transformation and meet and learn from industry experts. The advice to be shared by companies that have already undergone digital transformation, along with their stories of challenges, will be invaluable in helping to avoid mistakes and better structure their transformations.

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The event’s innovation partner is Visa, blockchain partner is Fastex, and investment partner - Apricot Capital.

20 top speakers from Armenian and international entities, such as Singapore University of Social Sciences, McKinsey, Forbes, Visa, Hexens, FAST Foundation, Revytech, Fastex, Beta Financial Technologies, Apricot Capital, ICDT Global, as well as RA Government, Central Bank of Armenia, Information Systems Agency of Armenia, SPRING PR Company and Ameriabank, will share their insights on digital business and technology through keynote speeches, panel discussions, and visionary speeches.

The upcoming event will focus on how digital transformation fosters business growth and innovation. Participants will explore strategies for adopting new technologies, gaining a competitive edge, and best practices for data protection and cyber security risk management. The forum's esteemed speakers and panelists will also delve into the latest trends in cryptocurrencies, the Metaverse, and NFTs, examining their potential benefits and associated risks.

The event is open to all interested in digital transformation, including business leaders, IT professionals, entrepreneurs, startups, investors, government officials, PR, marketing, and sales executives.

Other interviews of the series:

Planning is the cornerstone of a successful digital transformation journey: global fintech expert Chris Skinner's mantra

In digital transformation journey it is crucial to protect your team from the fear of failure: Maxim Mikhalyov