The managing director of the financial institution Gulnaz Khalitova spoke about the development of the transfer market and new approaches to customer experience.
With the increase in international transfer services, customer expectations are changing. Today, they value not only speed and security but also the ability to quickly choose the most advantageous option. Nurbank is the first among Kazakhstani banks to implement in its mobile application Nur24.kz a service for selecting the optimal money transfer system.
Gulnaz Khalitova, Managing Director of Nurbank, spoke about the development of the transfer market, digitization, and new approaches to customer experience.
- Gulnaz Fardenovna, how is the money transfer market developing in Kazakhstan? What trends are you observing?
- According to the National Bank data, by the end of 2025, the amount of funds sent from Kazakhstan abroad by individuals through international money transfer systems reached 718.9 billion tenge. Incoming to our country is 226.4 billion tenge. It's worth noting that the money transfer market continues to transform actively. A few years ago, the key criteria for choosing transfer systems were service availability and speed of fund delivery. Today, users have become more demanding. They are interested in the cost of transfer, conversion rates, ease of processing, and the ability to choose. Users increasingly select not a specific transfer system but the best customer experience, the result. As a result, competition is developing not only between banks but also between digital ecosystems capable of offering the most convenient and transparent service.
- What role does the transactional business play in Nurbank's strategy?
- The transactional business, along with SMB, is one of the priority areas of development for our bank in the coming years. It is through payments, transfers, and daily financial transactions that regular interaction between a person and the bank is formed. Therefore, for us, transactional services are not only a source of commission income but also an important tool for enhancing loyalty, retention, and development of business relationships. Today, the bank is actively developing digital services, expanding the range of payment solutions, and strives to offer convenient and accessible tools for making transfers and payments. Currently, we offer one of the widest ranges of money transfer systems on the Kazakhstani market. This allows our clients to choose the most suitable tool for solving their tasks.
- You are the first among Kazakhstani banks to launch a system selection service. How did this idea come about?
- The more money transfer systems on the market and at the bank, the harder it is for individuals to choose the most optimal one for solving their tasks. When making international transfers, Kazakhstani citizens and non-residents often have to independently compare different systems: study commissions, available destinations, conditions for receiving funds, and crediting timeframes. This process takes time and doesn't always allow for quick and optimal decision-making. Therefore, we decided to simplify the selection process as much as possible. As a result, a money transfer system selection service appeared in the Nur24.kz mobile app. Now users only need to select the recipient's country, specify the amount and debiting account. The platform independently analyzes the available options and offers the most suitable solution.
- What is unique about the service?
- Nurbank changes the approach to international transfers. Previously, a person independently chose a money transfer system; now, they choose the result. One of the main advantages of the platform is that it provides the ability to compare several options. All information is now available in the app. Users can see the commissions, transfer conditions, and choose the most advantageous option. To some extent, this can be called a unified digital space for selecting international transfers. However, more importantly, our clients have received a transparent tool for decision-making and the opportunity to select a service that best meets their needs. Meanwhile, the final choice always remains with the client. Additionally, the service includes a feedback mechanism: there are options for evaluating the quality and publishing reviews. This helps us analyze the customer experience, respond promptly to comments, and continuously improve the quality of provided financial services.
- What transfer systems are available to your bank's clients?
- Today, Nurbank offers one of the most comprehensive product lines in the segment of international transfers: Ria Money Transfer, UPT (Universal Payment Transfer), KoronaPay (Golden Crown), Kwikpay, Western Union, SWIFT transfers, MoneyGram, and MultiTransfer. Each system has its advantages in certain directions, tariffs, and conditions for receiving funds. For example, Ria Money Transfer allows sending money to more than 190 countries, and in Kazakhstan, this service is available only to Nurbank clients. UPT offers one of the most attractive tariffs for transferring funds to Turkey. KoronaPay is traditionally in demand for transfers to Russia, CIS countries, and Europe. The wide range of solutions ensures users flexibility and the ability to choose the most suitable transfer channel.
- What are the most popular directions for transfers?
- Speaking of the market as a whole, the largest directions remain Russia and Uzbekistan. We also observe a steady demand for transfers to Kyrgyzstan, Turkey, Azerbaijan, Georgia, UAE, South Korea, and several other countries. Meanwhile, the demand structure is gradually changing. More and more transfers are made via mobile applications, traditional bank visits are becoming less frequent.
- What results has Nurbank achieved in this segment?
- By the end of 2025, our bank's share in the market of outgoing transfers through money transfer systems reached 15.56%. An interesting indicator is the dynamics of using the Nur24.kz mobile application. In 2025 alone, the number of international transfers made through the app increased 30 times. This confirms the high demand for digital services and users' readiness to use modern tools for solving their financial tasks.
- What is your vision for the future of the money transfer market?
- We believe the future lies in personalized digital services. It is no longer enough for users just to have the ability to send money. They expect the system to help choose the most advantageous and convenient option, automatically suggest the optimal solution, and allow the operation to be performed in just a few clicks. The next stage in the development of such services is associated with data analytics and intelligent algorithms that can consider personal preferences, transaction history, and specifics of a particular transfer. Our task is not just to provide access to financial services, but to make them as convenient and understandable for the user as possible. This is the direction in which Nurbank plans to develop its digital services in the coming years.
JSC "Nurbank" operates on the basis of license No. 1.2.15/193 dated February 3, 2020, issued by the Agency of the Republic of Kazakhstan for regulation and development of the financial market.
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