Digitalization of Kazakhstani banks

The financial industry, including the banking sector, has traditionally been a leader in introducing innovative technologies and digital services to its customers. Digital products and solutions help to receive financial services quickly and conveniently, and affordable and easy-to-use services are becoming an integral part of Kazakhstani financial institutions. It is already possible to receive banking services remotely and using biometric technologies. At the same time, the number of «hybrid» bank customers is growing in Kazakhstan. Kazakhstani banks are introducing new solutions for online bank account opening and the use of biometric technologies (fingerprints, voice and face recognition). A service has been launched for online opening of a bank account by legal entities and concluding a compulsory insurance contract at the stage of their state registration through the e-government portal, that is, a newly created legal entity can undergo state registration within the framework of one electronic procedure, open a bank account at its discretion in one of the second-tier banks offering such a service, and insure its employees. Thus, the process of forming a new digital financial services system is actively underway. Scientific novelty of the study lies in the fact that the authors of the article offer specific recommendations to improve the activities of Kazakhstan's secondtier banks on the use of digitalisation and new information products. In particular: the development of a clear digital strategy for small and medium-sized companies and enterprises, as they currently face certain negative problems due to cyber threats and risks of new technologies. It provides an effective start to a programme consisting of the creation of long-term innovation development institutions and specific projects in specific sectors for the sustainable development of the digitalisation process. The practical significance of the study lies in the fact that Open API and Open Banking, etc. are aimed at continuing the introduction of new information products available to Kazakhstan's second-tier banks. The authors, based on the analysis of the current situation in the Kazakh banking system, propose to actively implement new solutions for online bank account opening, which is the main objective of the study and reflects the practical significance of its results.