The new world of digital finance: Open Banking as the development trend for the next 50 years

3 November 2023, 08:00, Almaty, Kazakhstan
Almaty has hosted an international PLUS-forum where Colvir was a bronze sponsor
The new world of digital finance: Open Banking as the development trend for the next 50 years

October is the time when banking industry and financial market professionals gather in Kazakhstan to discuss hot topics related to e-commerce development, fintech and payment business. In 2023 fintech as a whole and the banking industry as one of its component parts are going through an active phase of digital transformation: digital currencies are created, Open API technology is developing, interest in crypto currencies from banks is growing, introduction of artificial intelligence  and machine training into banking processes is continuing, more and more attention is being paid to Government participation in financial market development facilitating the expansion of the range of services offered by banks. These topics were actively discussed at the PLUS-forum.

PLUS-forum enables one to keep abreast with industry developments and be the first to learn of all the most interesting and relevant things happening in the fintech industry. This time a lot of discussion at the forum focused on the advantages of the use of open API in the finance industry, and of Open Banking. One of the speakers voiced the opinion that Open Banking will be the trend for the next 50 years. Some of the speakers also emphasized the importance of Government participation in the financial technology development thus helping to improve the quality of Government service digitalization. A number of interesting presentations dealt with the growing interest of banks in crypto currencies and crypto exchange integration.
Timur Tlegenov
Colvir Software Solutions Presale Manager

Industry events in Kazakhstan are of particular relevance to employees of Colvir Software Solutions as the country’s largest IT solution supplier for banks, postal and micro-finance entities.

Not only does PLUS-forum reveal new trends, it also confirms the relevance of existing ones. The discussion has been ongoing for years in Kazakhstan with regard to the growing proportion of cashless settlements and the move to such settlements of a growing number of customers and transactions. We have also listened at multiple conferences to discussions of the importance and timeliness of the development of digital tenge, crypto currencies and blockchain technology, and these topics will stay for a long time on the current technology agenda.
Yuri Arutyunyan
Colvir Software Solutions Account Manager

More than anything the forum was useful as far as the participant makeup was concerned: our customers were present, and some of them were there as speakers. It was an opportunity to mix, and to meet new faces. It was quite useful to listen to discussion of key banking sector and retail development trends in Kazakhstan. The digital borderlines between these two sectors are getting erased in Kazakhstan with the development and launching of new super apps by the largest fintech players — they are so tightly integrated into all activity areas, sought after by rank-and file consumers who are used by them so much. New challenges and new requirements emerge: customer base growth, new approaches to cross-selling, new ideas and developments with regard to optimization of the speed of selling and delivery of banking, as well as insurance and other products, monitoring and statistics collection feature development, and a lot more. We were pleased to hear from forum participants favorable comments with regard to Government entities responsible for digital development, for proposing and implementing relevant services. This provides proof of a productive and effectively organized system of interaction between the business community and the Government in the area of digitalization in the Republic of Kazakhstan.
Gleb Semenov
Colvir Software Solutions Account Manager

As far as Colvir partners are concerned, the key mission invariably remains that of delivering high-quality services to customers, retaining existing customers and attracting new ones. This encourages banks to move ahead and launch new products in order to meet the growing requirements of the country’s population.

Colvir would like to convey its gratitude to the PLUS-forum organizers for promoting consolidation of the world banking community, for the high standard of the event, and for the productive atmosphere promoting exchange of experience and of best practices in the area of financial technologies. Colvir professional employees are closely following financial industry development and trends, and keep improving their solutions accordingly.
Denis Yudin
Head of Business Development Department

Please write to to arrange a solution demo by Colvir Software Solutions. To stay up to date with interesting fintech industry news and events subscribe to Colvir Telegram channel.

Subscribe to news
Interesting facts about products, event participation, new vacancies – be kept up-to-date with very latest news from Colvir Software Solutions!

Your application has been accepted

We will call you back soon