{"id":9260,"date":"2018-04-06T06:58:40","date_gmt":"2018-04-06T06:58:40","guid":{"rendered":"http:\/\/bulletins.bfconsulting.com\/?p=9260"},"modified":"2018-04-06T08:02:56","modified_gmt":"2018-04-06T08:02:56","slug":"kazakh-fintech-business-opportunities-being-driven-to-other-countries","status":"publish","type":"post","link":"https:\/\/bulletins.bfconsulting.com\/en\/kazakh-fintech-business-opportunities-being-driven-to-other-countries\/","title":{"rendered":"Kazakh FinTech business opportunities being driven to other countries"},"content":{"rendered":"<p>As FinTech continues to become an important aspect of how financial markets all over the world operate, pressure from Kazakh regulators and information attacks directed against the online lending sector of Kazakhstan are forcing many businessmen to look for opportunities elsewhere, taking away much-needed capital, technology and trained personnel from the country. For example, FinTech companies in Kazakhstan are charged with exorbitant interest rates \u2014 up to 700% per annum \u2014 that are based on emotional assessments and not a real assessment of potential. Moreover, Kazakh citizens are not being given a chance to access financial services that FinTech solutions could provide them. As a result, they have nowhere to turn but to a thriving black lending and\/or unofficial lending market, which is estimated at USD 500 million in the country. Regulators need to understand the entire financial ecosystem and let markets develop to serve them in a way that protects consumers and also provides benefits to the state in terms of added revenue, economic growth and job creation.<\/p>\n<div class=\"rpbt_shortcode\">\n\n<div id='rpbt-related-gallery-1' class='gallery related-gallery related-galleryid-9260 gallery-columns-3 gallery-size-thumbnail'><figure class='gallery-item' role='group' aria-label='Video: Beyond open banking lies Open X'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/bulletins.bfconsulting.com\/en\/video-beyond-open-banking-lies-open-x\/'><img width=\"150\" height=\"150\" src=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2019\/12\/World-FinTech-Report-2019-Leapfrogging-Open-Banking-to-Open-X-150x150.jpeg\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" decoding=\"async\" aria-describedby=\"rpbt-related-gallery-1-14115\" loading=\"lazy\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='rpbt-related-gallery-1-14115'>\n\t\t\t\tVideo: Beyond open banking lies Open X\n\t\t\t\t<\/figcaption><\/figure><figure class='gallery-item' role='group' aria-label='China\u2019s FinTech model and why the West won\u2019t catch up'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/bulletins.bfconsulting.com\/en\/china-s-fintech-model-and-why-the-west-won-t-catch-up\/'><img width=\"150\" height=\"150\" src=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2019\/01\/china-s-fintech-model-and-why-the-west-won-t-catch-up-150x150.png\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" decoding=\"async\" aria-describedby=\"rpbt-related-gallery-1-12115\" loading=\"lazy\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='rpbt-related-gallery-1-12115'>\n\t\t\t\tChina\u2019s FinTech model and why the West won\u2019t catch up\n\t\t\t\t<\/figcaption><\/figure><figure class='gallery-item' role='group' aria-label='Banks must embrace fintech to survive'>\n\t\t\t<div class='gallery-icon landscape'>\n\t\t\t\t<a href='https:\/\/bulletins.bfconsulting.com\/en\/banks-must-embrace-fintech-to-survive\/'><img width=\"150\" height=\"150\" src=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2018\/02\/people-standing-together-in-shape-of-an-arrow_3446-294-150x150.jpg\" class=\"attachment-thumbnail size-thumbnail\" alt=\"\" decoding=\"async\" aria-describedby=\"rpbt-related-gallery-1-8578\" loading=\"lazy\" srcset=\"https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2018\/02\/people-standing-together-in-shape-of-an-arrow_3446-294-150x150.jpg 150w, https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2018\/02\/people-standing-together-in-shape-of-an-arrow_3446-294-300x300.jpg 300w, https:\/\/bulletins.bfconsulting.com\/wp-content\/uploads\/2018\/02\/people-standing-together-in-shape-of-an-arrow_3446-294.jpg 626w\" sizes=\"(max-width: 150px) 100vw, 150px\" \/><\/a>\n\t\t\t<\/div>\n\t\t\t\t<figcaption class='wp-caption-text gallery-caption' id='rpbt-related-gallery-1-8578'>\n\t\t\t\tBanks must embrace fintech to survive\n\t\t\t\t<\/figcaption><\/figure>\n\t\t<\/div>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>As FinTech continues to become an important aspect of how financial markets all over the world operate, pressure from Kazakh regulators and information attacks directed against the online lending sector of Kazakhstan are forcing many businessmen to look for opportunities elsewhere, taking away much-needed capital, technology and trained personnel from the country. For example, FinTech &hellip;<\/p>\n","protected":false},"author":5,"featured_media":9261,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10,76],"tags":[75,335],"_links":{"self":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts\/9260"}],"collection":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/comments?post=9260"}],"version-history":[{"count":4,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts\/9260\/revisions"}],"predecessor-version":[{"id":9457,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/posts\/9260\/revisions\/9457"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/media\/9261"}],"wp:attachment":[{"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/media?parent=9260"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/categories?post=9260"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bulletins.bfconsulting.com\/en\/wp-json\/wp\/v2\/tags?post=9260"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}