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Digital journeysOctober 7 2020

Khan Bank’s big digital and data push

Mongolian bank’s chief information officer Sachin Nair on the goal of becoming fully digital bank by 2023 and its plans for a complete IT infrastructure modernisation programme.
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Mongolia is the second largest landlocked country, with herders and nomads making up half of its 3.2 million population. It has a very high social media and mobile penetration — unsurprising with so many living in remote areas. According to We Are Social and Hootsuite’s ‘Digital 2020: Mongolia’ report, social media penetration reached 68% in January 2020, and the number of mobile connections was equivalent to 136% of the total population.

This situation has driven domestic institutions to ramp up their digital transformation efforts. “This is our main focus,” says Sachin Nair, chief information officer at Khan Bank, Mongolia’s largest lender by assets and customers.

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Joy Macknight is the editor of The Banker. She joined the publication in 2015 as transaction banking and technology editor. Previously, she was features editor at Profit & Loss, editorial director at Treasury Today and editor at gtnews. She also worked as a staff writer on Banking Technology and IBM Computer Today, as well as a freelancer on Computer Weekly. She has a BSc from the University of Victoria, Canada.
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