Not just a bank, but a super app

Kazakhstan's Kaspi Bank is today not just a bank that caters to customers, but a super app that combines payments, a marketplace and fintech services:

- mohan

Central Asia's Kazakhstan is unique in that it is the world's largest landlocked country. It also has another first to its credit. It has a bank, Kaspi Bank, operational since 2002, which has transformed into Kaspi.kz, making use of a 'super app' ecosystem. What is unique about its transformation is that it does not make use of any single technology, but has integrated several leading-edge technologies to create a seamless, mobile-first experience for its users.

The bank, originally Bank Kaspiyskiy, was a commercial bank founded in Almaty, Kazakhstan, in 1991. It was privatized and rebranded as Kaspi Bank in 2002. Subsequently, it transformed into the super app, Kaspi.kz, now widely used across the country, combining payments, a marketplace and fintech services. It is essentially a comprehensive mobile application - a single interface for consumers and merchants offering QR payments, P2P and B2B transactions; an e-commerce platform for electronics, household goods etc; and a range of financial services, including credit and loans. It also has Kaspi Pay, which connects businesses with consumers.

FINTECH + SUPER APP