The Mobile Banking Rank Kazakhstan 2022 report serves as a crucial examination of mobile banking trends and user experience across Kazakhstan. Published in 2022, this expansive analysis examines the features and functionalities of mobile banking apps from 10 leading banks. The study evaluates more than 800 user experience criteria to determine how well these banks meet the needs of their customers in managing personal finances through mobile apps. This comprehensive research highlights both the strengths and areas for improvement, providing a clear picture of the mobile banking landscape in Kazakhstan.
Update!
This research is conducted annually. In 2024, the next iteration of the Mobile Banking Rank in Kazakhstan is available to all stakeholders. Contact us for the most up-to-date information.
Contents
The study particularly focuses on debit card management, evaluating how mobile apps cater to the everyday needs of managing finances effectively. Researchers used over 800 criteria to measure the functionality and user-friendliness of each app, assigning weights to these criteria to reflect their importance.
Many problems identified in the 2019 study remain unresolved in 2022, including lacking online chat support, insufficient information on tariffs and products, and the lack of remote personal data modification capabilities.
Basic functionalities like daily payments, transfers, and service payments are successfully implemented by most banks, which is considered a market standard.
While banks are expanding functionalities to enhance transactional activities, many features are not fully realized across the board, such as the management of linked cards and recurring payments.
While mobile banks in Kazakhstan have been successful in addressing banking functions, there remains significant room for improvement in user support, registration processes and integration of advanced features.
The market for mobile banking in Kazakhstan displays a considerable disparity in the quality of customer experience, with the majority of mobile banking applications failing to surpass a 50% satisfaction threshold. This fragmentation indicates a critical need for standardized quality metrics and clear benchmarks. Implementing these standards would guide banks toward substantial service improvements, aligning their offerings more closely with user expectations. The report underscores the urgency of adopting a unified vision to elevate the overall customer experience in the digital banking sector.
Here are some strategic insights that emerged as a result of the research effort.
Top-rated apps offer extensive customization options such as limit settings, security features, and notifications. These apps excel in user engagement by simplifying recurring tasks and providing detailed information on bank services.
The research identifies several gaps in the digital services offered by banks. For example, certain apps lack features like e-wallet transfers or fine payments, suggesting areas where banks can improve to match or surpass competitors.
The report suggests that there is significant growth potential in enhancing features that aid in the daily financial activities of users. This includes better management of linked cards, optimizing scheduled payments, and simplifying data input for transactions.
Banks can use the insights from this report to evaluate their competitive position and identify key trends in mobile banking. The information helps in understanding the effective strategies and practices that can enhance customer satisfaction and retention.
By analyzing the detailed practices and shortcomings in current mobile banking apps, banks can strategize on implementing better services and features that align with customer needs and preferences.
We provide detailed insights and best practices to help banks optimize key features and meet user expectations in Kazakhstan's mobile banking market.
Customers actively use mobile banking apps for their daily payments and transfers, service payments, as well as for opening new products. These tasks are successfully addressed in the majority of the tested applications.
The top-performing apps provide extensive customization options for card products, including limit management, security settings, contactless payment activation, SMS and push notifications management. They also optimize the execution of repetitive operations and offer broad customization possibilities for the mobile banking experience, such as profile settings, theme selection, and personalized greetings. These apps provide detailed information about branch locations and ATMs.
Apps that received sufficiently high ratings but lag behind the leaders in terms of digital maturity have some weak points. For example, they may lack the ability to transfer funds to an e-wallet, make transfers based on account details, or pay traffic fines. However, they also showcase successful features, such as convenient interactions with a large list of service providers, a well-developed pre-login area, and detailed showcases for ordering debit and credit cards.
Apps with a low level of digital services exhibit gaps in payment functionality, document downloads convenience, and ordering new products from the pre-login zone. However, each bank has successful implementations, such as convenient support chat and a detailed FAQ section, comprehensive transaction information, access to a unified transaction history, and online change of phone numbers and passport details.
All applications in the market have successful implementations, unique solutions, and practices. The overall growth point for improving the user experience is enhancing the convenience of daily tasks. Niche development is also possible through the implementation of less common user scenarios.
This comprehensive study of mobile banking in Kazakhstan has unveiled critical insights into the digital banking landscape, highlighting both achievements and areas needing enhancement. With a significant disparity in user satisfaction across the sector, the report underscores the need for a unified approach to quality and customer experience. We invite industry leaders and financial institutions to collaborate with us, leveraging these findings to refine their strategies and elevate their services, thereby advancing the entire digital banking ecosystem in Kazakhstan.
We’ve evolved dozens of successful financial services and are eager to prove that our expertise can be implemented in other industries and around the world. Have a look at our success stories!
From research and analysis to strategy and design, we help our clients successfully reach their customers through digital services.
