How BS/2 Contributes to Kapitalbank’s Digital Ecosystem

One of the largest banks in Uzbekistan has redefined the traditional concept of self-service devices. What steps has the bank taken to develop its digital ecosystem for private and business customers?

Behind the scenes of the ‘Digital Uzbekistan’ forum, BS/2 spoke with Sardor Ismailov, First Deputy Chairman of the Board at Kapitalbank. During the interview, the top manager discussed the bank’s plans and activities.

What areas of development does Kapitalbank currently focus on? What banking products and customer segments are most relevant?

Technology development is one of the most important aspects of our development. We were named the most innovative private bank in Uzbekistan last year, and we are not stopping.

Our goal is to constantly introduce innovations and expand remote banking services for business and private clients. Using advanced technologies and focusing on security and usability, Kapitalbank is dedicated to enhancing customer satisfaction and improving their financial well-being.

Moreover, we are actively developing products for business banking. Today, Uzbekistan is witnessing a boom in entrepreneurship. Business in our country is growing and developing since the President’s initiatives and the support of the state have created favorable conditions.

From our side, we aim to provide convenient banking services and products to small and medium businesses in Uzbekistan. As a result, entrepreneurs solve their routine tasks quickly and manage their finances effectively.

We are also preparing a premium line for our accountholders. Preparation for the project launch is in its active phase. Follow Kapitalbank’s news.

Recently, your bank has almost doubled the number of modern self-service devices. Can you describe your strategy for developing automated banking channels and maintaining the ATM fleet?

Yes, we have installed more than 300 modern ATMs since the beginning of 2024. ATMs have traditionally been used to withdraw and deposit cash, but now they also offer a full range of services previously only available at bank branches. Thus, we improve the convenience of banking services for our customers and reduce the workload of bank employees.

Based on our experience, we plan to develop self-service channels further. Online access to reliable financial products is a crucial requirement for our clients.

Kapitalbank offers various remote banking services. These include Kapitalbank’s applications, remote services for entrepreneurs, and smart ATM features. Additionally, we plan to introduce card machines so customers can receive payment cards without visiting the bank.

Bank branches are still needed. Even today you can observe a large flow of people in our offices. Due to most of them moving to the digital world, this flow has been decreasing over time.

Kapitalbank has been a reliable financial partner for nearly two million residents and 80,000 entrepreneurs in Uzbekistan for 23 years. Do you see any changes in customer behavior as a result of digital banking?

Trust in digital banking and cashless payments is the main change. People used to think it was more reliable to go to the bank, speak to an employee, and get cash in person.

Today the market is undergoing a digital transformation, and time savings are becoming significant. Our customers want fast, convenient, and reliable banking services. Keeping that in mind, we are expanding our products, including our mobile application functionality, and adding smart ATMs to our network.

Why go to a bank branch when you can manage your accounts, deposits, and loans via the mobile app? You can get invoices and account statements online in seconds.

Moreover, you can make a loan payment at your local ATM. But the most important advantage of digital banking is that anyone can access our services, whether they live in a big city or a small town.

Our business customers can also make financial transactions using the Uzum Business app regardless of the bank’s operating hours. There are many ways to utilize the app, including managing payments, sending salaries to employees, and performing currency transactions.

The full interview with Sardor Ismailov can be found via the following link:

Reference:
A key technology partner of Kapitalbank is BS/2, an international company. The parties signed a strategic partnership agreement in 2023. Cooperation focuses on:

• Renewing the network of self-service devices (modern Diebold Nixdorf ATMs)
• New software implementation
• Enhancing ATM security and integrating monitoring systems

Kapitalbank became the first Uzbekistan bank to offer loan repayment by cash via ATMs thanks to joint work with BS/2. During 2024, Kapitalbank’s self-service devices will include card account top-up and self-encashment capabilities.