Digital technologies in the financial sector of Kazakhstan

Digital systems play an important role in the activities of various fields, including the tasks of the financial sector. Simultaneously with the innovative development of the banking system in the field of information technology, in order to further improve the processes of providing services, significant steps are being taken towards improving the quality of services provided, as well as in the organization of business processes of second-tier banks. The authors investigate the impact of large financial institutions on the level of digital technology development: Kaspi Bank and Freedom Bank. The object of the article is to study the principles and models of action on the basis of which these digital ecosystems work. The ways of their development and functioning in the activities of two commercial banks are being investigated. This research is relevant due to the fact that in the context of the introduction of new technologies, for example: digitalization, as well as, in general, the limits and boundaries of services offered by the largest market players are being overcome, which creates the potential to accelerate the development of a competitive and secure digital financial market of a new generation. In this article, the authors define the concept of the ecosystem of banks and analyze large Kazakhstani financial institutions based on their financial services. Based on the data analysis, conclusions are drawn and the main conclusion is proposed, which determines the main direction of development for the development of financial digital ecosystems. Currently, two types of ecosystems are actively developing in Kazakhstan. In the first of them, the bank is the core of the ecosystem of non-financial services, in which it acts as a settlement operator. In the second case, a large non-financial company begins to build its own ecosystem of lifestyle services and eventually thinks about creating its own settlement center. At the same time, the digital ecosystem is definitely not limited only to its own services, but also integrates with partner solutions. At the same time, the ecosystem assumes, first of all, the transformation of human resources, their involvement in the process.