The article analyses the innovation activities of banks in Kazakhstan. Presents innovative projects of
Kazakhstan`s National Bank (hereinafter the National Bank) and Agency for Regulation and Development of the
Financial Market (hereinafter the Agency), as well as leading commercial banks of the second tier.
The National Bank in cooperation with the Agency carried out an expert appraisal of the asset quality of the
banking sector and produced materials and models for the prudential stress testing of banks in the second tier. A pilot
project to introduce a national digital currency - the digital tenge - was developed by the NBK with a launch of a new
global industry platform to identify and implement open innovation in leading banks in Kazakhstan. In support of the
implementation of innovative practices in the financial sector in Kazakhstan, the top fin-tech start-ups in Kazakhstan
and CIS countries were involved.
In the article, innovative banking products and solutions are presented in a cross-section of the country's
leading commercial banks.
Kazakhstan's financial market is in the process of digital transformation, with a focus on establishing a core IT
architecture as a foundation for implementing emerging financial technologies.
To stimulate innovation in the financial technology market, working groups under the National Bank, which
rapidly receive feedback and make decisions jointly with market participants, will be strengthened.
The paper reveals measures on the development of the innovative activity of commercial banks.