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NUR-SULTAN – The Tech Hub of the Astana Worldwide Monetary Heart (AIFC) plans to launch new applications and invitations monetary firms to cooperate after the profitable launch of the primary fintech accelerator for banks, reported the hub’s press service.
As an AIFC subdivision, Tech Hub promotes start-up ecosystem, enterprise trade market, e-commerce, company innovation and new know-how in Kazakhstan. The hub additionally launches help applications for market gamers, promotes structuring of enterprise offers and the testing of latest fintech options.
Final 12 months, Tech Hub superior the primary fintech accelerator for banks collectively with the Web Initiatives Growth Fund (IIDF) and with the help of the Mastercard worldwide fee system. Its mission has been to construct a long-term partnership between banks in Kazakhstan, start-ups and know-how firms.
“We’re glad that Kazakhstan’s first fintech accelerator was of nice curiosity amongst startups and fintech firms from totally different international locations. This reveals the attractiveness of the banking market from the perspective of enterprise development, joint testing and implementation of the newest applied sciences,” mentioned Assel Abdrakhmanova, the pinnacle of Company Innovation at Tech Hub of the AIFC.
Altyn Financial institution, the Eurasian Financial institution and the Freedom Finance Financial institution took half within the fintech accelerator.
On the first stage, 75 enterprise tasks involving Kazakh banks have been carried out. The startup options have been introduced for tasks that includes digital services and products for retail, SMEs and company purchasers, enterprise course of automation, info safety, options for advertising, gross sales, HR, GovTech.
In consequence, greater than 300 purposes have been obtained from startups from Kazakhstan, Russia, Belarus, Ukraine, Singapore, Vietnam, Kyrgyzstan, Tajikistan, Poland, Estonia and the U.S. Thirty groups chosen by banks introduced their options to higher administration at pitch periods held in December 2021. 11 startups who entered the finals proposed options for info safety, gamification, companion providers growth, robotics, onboarding and worker coaching, advertising personalization, and large knowledge processing.
A joint pilot has been launched with one of many IT useful resource configuration safety administration tasks. The banks are at the moment negotiating with the remainder of the groups to find out enterprise circumstances, focus on situations and pilot situations.
In keeping with Deputy Chairman of the Board of Eurasian Financial institution Alexander Naumov, the staff has obtained greater than 220 purposes from startups with the intent to extend the client base by way of the applying of modern options, optimization of digital advertising campaigns earlier than robotization of inner banking processes, in addition to info safety options. “Now we have dramatically expanded our partnership community, opening up alternatives for future synergies. We’re conducting the primary pilot tasks, collectively we attempt to acquire wonderful outcomes,” he mentioned.
“The banking sector of the nation presents nice alternatives. If used accurately, Kazakh banks may change into key gamers within the CIS. It’s now extra pressing than ever to rapidly discover and implement new services and products to fulfill the rising demand in a well timed method. We’re glad that along with companions we now have carried out the primary set of accelerators, which confirmed wonderful outcomes and willingness of banks to actively implement innovation,” mentioned Irina Tarasova, the director of the Division of Company Packages of the IIDF.
Specialists predict that the curiosity of startups within the Kazakh market will solely enhance. Kazakhstan ranks thirteenth place in The World Fintech Index 2021 within the Asia-Pacific area. Demand for modern monetary services and products, increased web penetration, progressive regulation, the expansion of cashless funds over the previous few years, and a developed infrastructure to help startups contribute to fintech development.
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