Digitalization of financial services of banks in Kazakhstan: trends and prospects of development

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  • Т. Zhumadilova Al-Farabi Kazakh National University
  • G. Kassenova Al-Farabi Kazakh National University
  • G. Supugalieva Al-Farabi Kazakh National University



commercial banks, banking digitalization, mobile banking, open API, Open Banking, Digital Services


The article is devoted to the issues of digitalization of the financial market of Kazakhstan, trends and development of the use of digital technologies in the services of commercial banks as a financial institution. In connection with the development of the FinTech industry, it outlines measures aimed at expanding the range of digital services of banks based on "Digital Kazakhstan" State Program. Theoretical information on the digitalization of banking activities is given with a review of domestic and foreign literature on the digitalization of the banking system. Based on national reports and global data on the development of mobile banking, the study was conducted using comparative and statistical analysis methods. Based on the concepts of Open API, Open Banking, the transition of commercial banks of Kazakhstan to modern technological changes and the state of their implementation in banking activities is considered. With identification of trends in the development of the Financial Information Technology Market in the Internet and mobile banking, the article presents experience and prospects of implementing Open API technology in the activities of domestic banks. During the analysis of the data of domestic banks such as commercial banks of the Republic of Kazakhstan: CenterCredit bank, Halyk Bank, Kaspi Bank, ForteBank and Jusan Bank, Freedom Finance Bank, their current state, and possibilities of using digital technologies, prospects for development were outlined.


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How to Cite

Zhumadilova Т., Kassenova Г., & Supugalieva Г. (2023). Digitalization of financial services of banks in Kazakhstan: trends and prospects of development. ECONOMIC Series of the Bulletin of the L N Gumilyov ENU, (3), 328–340.