MBANK – The First Digital Bank in Kyrgyzstan with International Operations

New York, United States, February 26, 2025 /MarketersMEDIA/ — The banking industry in central Kyrgyzstan is changing due to a digital revolution. The nation’s first digital bank, MBANK, has quickly become a leader by fusing innovation with services that are focused on the needs of its customers. MBANK is revolutionizing banking through its global operations and unwavering dedication to expansion.

Kyrgyzstan’s Leading Digital Banking

MBANK, Kyrgyzstan’s first fully digital bank, has established a standard for financial innovation. More than six million downloads of its mobile application attest to the popularity and trust it has gained among consumers. The app is a vital tool for contemporary banking since it offers a range of services that are suitable for both individuals and businesses.

Online loan applications, virtual card issuance, and easy international transfers are a few of its notable features. Every day, MBANK allows conducting your financial affairs without going to the bank. The bank’s active customer base has multiplied fifteen times since 2021, now serving over 3 million Kyrgyz citizens—an astounding 80% of the adult population.

Global Activities and Collaborations

MBANK is more than just a regional thing. In order to maximize services, it has deliberately extended its reach outside of Kyrgyzstan and concentrated on international collaborations. Businesses and individuals can handle international transactions more easily thanks to partnerships with platforms like Thunes, which facilitate streamlined cross-border payments. These initiatives support MBANK’s mission to deliver top-notch financial services that cut across national boundaries.

Financial Growth and Market Performance

MBANK’s assets have experienced exponential growth, increasing five-fold from $0.21 billion in 2021 to $1.05 billion in 2024. This surge reflects the growing trust in its services. Its deposit portfolio has also expanded significantly, growing from $151 million in 2021 to $793 million in 2024. Likewise, MBANK’s loan portfolio has quadrupled from $107 million in 2021 to $408 million in 2024.

New Developments in Online Banking

MBANK’s capacity for innovation is one of its strongest points. Features like

●     Visa Direct, which allows international transfers with Visa cards, was only added in 2023.

●     Integration with 1C: Enterprise to streamline corporate processes.

●     The MBusiness app was created to help business owners with instant transfers, online invoicing, and other features.

In order to protect user data and transactions, the bank has also made security a top priority, implementing cutting-edge technologies like hyperconvergent architecture.

Islamic Finance and Inclusive Growth

The mission of MBANK is centered on inclusivity. The bank entered the Islamic finance market in response to rising demand, and it has seen impressive growth in this field. In 2023, there were 35 times as many Islamic cardholders and more than four times as many users of Islamic financing. This led to the launch of MISLAMIC, MBANK’s fully digital Islamic banking service, further strengthening its role in financial inclusivity.

Revolutionizing Everyday Banking

Imagine using a single app to watch favorite shows, manage finances, and pay fines. This is made possible by the MBANK ecosystem’s integration of non-banking services into its platform. The app is now more than just a banking app thanks to features like music charts, TV streaming, and access to government services.

The MKassa system offers free cash register solutions to businesses and accepts Tap2Phone and MBANK QR payments. MBANK makes sure you have everything need, whether you’re a retail customer or an entrepreneur. Over 60% of all POS terminals in Kyrgyzstan are powered by MBANK, making it the dominant player in digital transactions.

A Prospective Perspective

In the future, MBANK intends to spearhead the digital transformation of the financial sector in Kyrgyzstan. The bank is well-positioned for long-term growth with initiatives like improving its cross-border payment systems, adding telemedicine services, and growing its loyalty programs (like MBonus).

The recent digital transformation and rebranding also demonstrate MBANK’s dedication to staying on the cutting edge. Keeping with the bank’s progressive philosophy, the redesigned website and ecosystem guarantee a smooth and safe user experience.

Why Opt for MBANK

MBANK provides unrivaled convenience, reliable protection, and creative solutions that meet today’s needs. MBANK is a reliable partner if anyone is looking for international financial services, managing their finances, or running a business.

MBANK is a pioneer in Kyrgyzstan and beyond, where digital banking is becoming a standard. To embrace the banking of the future – get the MBANK app to see the difference.

Contact Info:
Name: Alex Braiman
Email: Send Email
Organization: MBank
Website: https://mbank.kg/en

Release ID: 89153667

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