IDBank Participates in Regional Conference of the Union of Banks of Armenia, Presenting Innovative Tools for the SME Sector
ArmInfo.IDBank took part in the regional conference “Opportunities and Prospects for Cooperation between Business and the Banking System in Lori Region,” held in Vanadzor and organized by the Union of Banks of Armenia.
The conference aimed to showcase the business financing tools provided by commercial banks in Armenia, including opportunities available through state support initiatives and international programs, as well as to explore ways to broaden access to financing.
Through its innovative solutions, IDBank consistently works to simplify both the early stages and the ongoing growth and operations of its partner businesses.
During the panel discussion, Grigory Yolyan, Head of the Trade Partner Relations Department at IDBank, introduced the Bank’s new and exclusive financial solution—IDDistributor—highlighting its role in supporting the development of the SME sector regardless of location. The tool allows entrepreneurs, including those in remote areas, to access financing and establish more stable and sustainable partnerships with supplier organizations.
At the time of delivery, the supplier’s representative enters the required payment details into the IDDistributor application and generates a QR code. The retail outlet then scans the code using the IDBusiness Mobile application and completes the payment either from available funds in its IDBank account or by using the innovative Rocket Distributor credit limit.
“With this limit, a store effectively gains an additional ‘financial buffer,’ enabling it to pay suppliers even when available funds are insufficient. As a result, product availability is maintained, customers are not faced with shortages, and business continuity is preserved,” said Grigory Yolyan.
In addition, the tool helps address the ongoing challenge of cash collection, which remains relevant both in Yerevan and across many regions. With IDDistributor, IDBank takes another step toward advancing a cashless ecosystem and expanding digital payment solutions.