Yerevan, 6,
Armenia
Vtb Bank Armenia Technographics
Discover the latest software purchases and digital transformation initiatives being undertaken by Vtb Bank Armenia and its business and technology executives. Each quarter our research team identifies on-prem and cloud applications that are being used by the 1000 Vtb Bank Armenia employees from the public (Press Releases, Customer References, Testimonials, Case Studies and Success Stories) and proprietary sources.
During our research, we have identified that Vtb Bank Armenia has purchased the following applications: Armsoft AS-Accountant for ERP Financial in 2019, Armsoft AS-Bank for Core Banking in 2015, Oracle Application Server for Apps Development in 2013 and the related IT decision-makers and key stakeholders.
Our database provides customer insight and contextual information on which enterprise applications and software systems Vtb Bank Armenia is running and its propensity to invest more and deepen its relationship with Armsoft , Oracle or identify new suppliers as part of their overall Digital and IT transformation projects to stay competitive, fend off threats from disruptive forces, or comply with internal mandates to improve overall enterprise efficiency.
We have been analyzing Vtb Bank Armenia revenues, which have grown to $40.0 million in 2024, plus its IT budget and roadmap, cloud software purchases, aggregating massive amounts of data points that form the basis of our forecast assumptions for Vtb Bank Armenia intention to invest in emerging technologies such as AI, Machine Learning, IoT, Blockchain, Autonomous Database or in cloud-based ERP, HCM, CRM, EPM, Procurement or Treasury applications.
ERP Financial Management
Vendor |
Previous System |
Application |
Category |
Market |
VAR/SI |
When |
Live |
Insight |
|---|---|---|---|---|---|---|---|---|
| Armsoft | Legacy | Armsoft AS-Accountant | ERP Financial | ERP Financial Management | n/a | 2019 | 2019 |
In 2019 Vtb Bank Armenia deployed Armsoft AS-Accountant as a Finance and Accounting application to support internal accounting, reconciliation and financial controls across its Armenian operations. The Armsoft AS-Accountant implementation is positioned to centralize transaction posting and reconciliation workflows for the bank's finance organization, with the application name Armsoft AS-Accountant referenced in Armsoft's customer listings.
Configuration focused on core accounting capabilities consistent with the Finance and Accounting category, including general ledger processing, accounts reconciliation workflows and embedded internal control constructs for period close and audit trail generation. Module usage is inferred from Armsoft's customer notes and therefore centers on internal accounting, reconciliation and financial controls rather than wider enterprise resource planning modules.
Operational coverage targeted finance and accounting teams within Vtb Bank Armenia and integrated with the bank's internal transaction feeds and payment processing streams to maintain ledger accuracy and support regulatory recordkeeping. Governance work emphasized role based access, centralized chart of accounts stewardship and reconciliation signoff workflows to align operational controls with local accounting requirements.
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ERP Services and Operations
Vendor |
Previous System |
Application |
Category |
Market |
VAR/SI |
When |
Live |
Insight |
|---|---|---|---|---|---|---|---|---|
| Armsoft | Legacy | Armsoft AS-Bank | Core Banking | ERP Services and Operations | n/a | 2015 | 2016 |
In 2015 Vtb Bank Armenia implemented Armsoft AS-Bank for core banking and transaction processing in Armenia. Armsoft AS-Bank is positioned within the Core Banking category to handle central ledger, transaction clearing, and customer-facing account services for the bank.
The deployment included Armsoft AS-Bank core banking modules along with internet client bank modules, configuring account management, transaction processing, and online channel workflows. Implementation work focused on operationalizing branch transactions and internet banking session flows together with consolidated finance reporting processes as reflected in vendor and public listings.
Operational coverage targeted the bank's Armenia footprint, aligning branch processing and online channels to the Armsoft AS-Bank module set. Governance emphasized central control of finance operations and staged rollout of internet/client bank capabilities to improve branch and online processing consistency.
Outcomes reported in vendor material and public sources include consolidated finance operations and improved online and branch processing, with Armsoft AS-Bank serving as the bank's core transactional platform.
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PaaS
Vendor |
Previous System |
Application |
Category |
Market |
VAR/SI |
When |
Live |
Insight |
|---|---|---|---|---|---|---|---|---|
| Oracle | Legacy | Oracle Application Server | Apps Development | PaaS | n/a | 2013 | 2013 |
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Apps Development | PaaS |
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2020 | 2020 |
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