Traditional Banks in Kazakhstan Evolve into Digital Platforms Amid Fintech Growth
Kazakhstan's financial sector is undergoing a significant transformation as traditional banks like Halyk Bank and Kaspi Bank evolve into digital platforms. This shift is part of a broader fintech revolution in the country, where digital ecosystems are being led by established financial institutions rather than startups. The National Bank of Kazakhstan (NBK) and other regulatory bodies have been instrumental in this transition, promoting initiatives such as real-time payment systems, open banking frameworks, and the development of a Central Bank Digital Currency (CBDC). The Astana International Financial Centre (AIFC) has also played a crucial role by providing a regulatory sandbox for fintech experimentation, attracting both domestic and international firms. 
