A Step Toward a Technological Future: Digital ID Platform Rollout Begins in Armenia

YEREVAN, October 8. /ARКА/. The Governor of the Central Bank of Armenia, Martin Galstyan, engaged in discussions regarding a strategic partnership with representatives from imID and SK ID Solutions, as reported by the regulator's press service.

In reference to the cooperation agreement established with imID and SK ID on October 2, Galstyan highlighted the document's strategic significance in fortifying Armenia's financial system and banking sector, improving compliance mechanisms, and incorporating best international practices into the financial infrastructure.

As per the agreement, imID will deploy SK ID Solutions' globally recognized split-key security technology, utilizing its state-of-the-art information infrastructure to launch the imID Digital ID application in Armenia.

This initiative is recognized as a crucial step towards establishing a secure, protected, and EU-compliant ecosystem within the country.

Tigran Simonyan, the Chairman of the Board of Founders of imID and Deputy CEO and Director of Digital Platforms and Technologies at Akba Bank, remarked that the company's solutions are designed to elevate the business environment to a new standard of efficiency and security through the adoption of innovative technologies and reliable digital services.

Kalev Pihl, the CEO of SK ID Solutions, underscored that Armenia possesses both the ambition and the essential groundwork to emerge as a regional leader in digital identification and trust services.

The application launch is anticipated for the first quarter of 2026.

imID was established in 2024 following the merger of ten prominent banks and three telecommunications firms in Armenia, aiming to foster a new culture and format for digital identification and trust services in the country. imID offers electronic identification solutions for individuals, businesses, and government entities.-0-