Eurasian Bank Launches Mobile Banking

Kazakhstan’s Eurasian Bank has launched a mobile banking service which offers basic mobile banking features to Kazakh, Russian and English speaking customers.

The service offers the ability to access transaction history, account transfers and bill payments as well as help finding ATMs and bank branches in Kazakhstan and Russia using their mobiles for the first time.

Founded in 1994, Eurasian Bank is a universal commercial bank that has branches in Kazakhstan and a subsidiary based in Moscow, Russia. The bank turned to mobile money specialist Monitise Create to build its new mobile banking service, which is available on iOS and Android and is due to be rolled out to iPad and Windows Phone later this year.

In total, the bank expects to reach one million customers with the service before the end of the year. Customers will also be able to apply for credit and block transactions using the mobile service.

“This marks the next step in the journey that we’ve been taking to re-shape our services around the changing needs of our customers, reflecting how mobile is really at the heart of the future of banking services, ” said Michael Eggleton, chief executive at Eurasian Bank.

According to software company GIRT Mobile, nearly one billion smartphones were sold last year. Although a regional bank could choose a mobile-friendly website, one of the main differences between an app and a mobile-friendly website is the ease of use. While a customer can typically reach a transaction in four steps using an app, with a mobile-friendly website that increases to 11 steps, including typing in the URL, clicking through various links and entering details.

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