The analysis of the recent failure in the ArCa system is ongoing, and international experts have been invited for this purpose. Daniel Azatyan, Chairman of the Union of Banks of Armenia (UBA), announced this during a press conference on Friday.

He said that the aforesaid problem was purely technical, no major damage was caused, and it did not lead to serious consequences, although the banks suffered losses.

Azatyan informed that in recent years, major structural changes as well as changes in management have been made in the ArCa company.

Also, the head of UBA called on ArCa to introduce mechanisms so that such problems do not arise in the future.

“The uninterrupted operation of the ArCa system is in everyone’s interests,” Azatyan noted.

ArCa system services temporarily inaccessible again