Kazakhstan is ready to share its open banking experience with regional countries, said Yuliya Salehova, Deputy Chairperson of the Kazakhstan Payment Organizations Association, during her speech at the “Baku Fintech Forum 2025,” APA-Economics reports.
Speaking about the implementation of the “open banking” system and the “sandbox” experience in her country, she emphasized the importance of regional cooperation: “I hope that we will share this experience in the future.”
According to her, the “sandbox” environment in Kazakhstan was created for testing new financial technologies and business models. The process is carried out under strict regulatory supervision with a limited number of customers and operations.
Salehova noted that although certain open banking services have been launched in the country, the refusal of large banks to join the system makes it difficult to scale this initiative: “For small financial institutions, this is an opportunity for growth and acquiring new customers. However, large banks are not interested in the open system because they do not want to lose their competitive advantage.”
She added that the main motivation for the development of open banking is the expansion of customer-oriented solutions and the increase of trust among market participants.
Follow us on Telegram
t.me/apanewsaz
Follow us on Instagram
Follow us on TikTok
Follow us on Facebook
Follow us on X
