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

Vachik Gevorgyan, the CEO of Apricot Capital, shared his vision of participating as a speaker in “Doing Digital Forum – Exploring Digital Future” with News.am.

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.