Press Release, 14 April 2016

New digital bank, Altyn-i, goes live in Kazakhstan

Altyn-i, a new digital bank in Kazakhstan, announces its launch today. A subsidiary of the Halyk Bank, one of Kazakhstan’s largest financial organizations, Altyn Bank’s digital platform Altyn-i goes live with its online and mobile banking offering, powered by Backbase.

Altyn-i, like the traditional bank, aims to offer a full range of financial services, including account opening, debit cards, deposits and payment services – and at a later stage – consumer loans, mortgages, credit cards. The digital-only model sits on top of new, customer-centric business processes in order to appeal to younger audiences as well. The main advantages are the 24/7 availability, the flexible management of funds and the innovative digital features.

To offer a seamless customer experience via all digital touchpoints, Altyn Bank has decided to partner with Backbase, the omni-channel digital banking leader, according to Forrester. Backbase has supported more than 60 financial institutions across the world and has helped to successfully launch new digital-only banks such as CheBanca! and Touch Bank.

Askar Smagulov, CEO of Altyn Bank, said: “We are truly committed to offering our customers the flexibility, convenience and fast service, so we created a digital banking model to enable just that. Thanks to our new technology and structure, we now have the ability to react quickly to customer demand, so we’re excited to launch Altyn-i today to allow our clients to progress with online banking, and keep on top of their finances wherever they are, and at all times.”

Jouk Pleiter, CEO of Backbase, added: “Altyn Bank is taking full advantage of the potential of online and mobile channels, and working with a bank that shares our vision for digital transformation is incredibly exciting. Altyn-i is a solution to increasing demand for customer-centric, omni-channel experiences, and we’re delighted that the visionary Altyn team partnered with Backbase to build a solid digital banking platform to win the battle for the millennial market.”