BAKU, Azerbaijan, June 13. Kyrgyzstan's Eurasian Savings Bank is set to undergo a transformation and emerge as a new, modern digital bank, Trend reports.
According to Kyrgyzstan's Ministry of Digital Development, Kyrgyzstan lacks a traditional digital bank, however, the establishment of such a bank will enable the transition to a digital format for all financial services, leveraging innovative technologies.
The ministry brought up such examples as Russia's Sberbank and Kazakhstan's Kaspi Bank.
"The advantages of a digital bank include cost savings for the bank, convenience, and accessibility for customers. Additionally, it leads to reduced costs for clients, including lower interest rates on loans, and enhances the security of banking operations," said the ministry.
The ministry further added that digital banking can be viewed as an innovative approach to customer service through the utilization of digital technologies. The bank will meet the financial and non-financial needs of clients in real time and from any location.
