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Mr Guram Andronikashvili, chairman of Kazakh lender ForteBank, explains how the bank's ongoing digitalisation strategy and diverse service offerings is helping them to stand out among their peers

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Mr Guram Andronikashvili, chairman of ForteBank

2020 has accelerated the digitalisation of Kazakhstan: at present, the country is actively developing e-commerce, e-trading, e-insurance, e-banking and e-exchange. The banks in Kazakhstan actively participate in the digitalisation of the country. ForteBank stands out among all other players on the market as a successful bank that has significantly increased its customer base over the last few years and continues to boost its profit year after year, by being a stable and well-capitalised bank. ForteBank remains a universal bank providing high-quality service to large companies, small and medium businesses and to individuals.

Forte is working intensely to digitalise and develop an ecosystem, so its customers can use a variety of services, aside from banking products.

In addition to ForteMarket digital store, which offers thousands of goods from small appliances to household furniture, Forte has introduced ForteTravel – a service for purchasing travel packages and air tickets; the bank also offers new mobile service called ForteMobile, an innovative, non-banking product. The bank’s exclusive product is its ForteForex service – a trading platform allowing customers to purchase and sell currency at their own exchange rates.

According to the chairman of the management board at ForteBank, Mr Guram Andronikashvili, the number of active users of ForteForex is growing each month. Some of its customers come for a one-time currency purchase or sale for their personal needs, while others engage in active trading. Currently, the trading process is carried out along the lines of four currencies – US dollars, Euro, the Russian ruble and pound sterling, all paired up with Kazakhstani tenge. The most sought-after currency, according to Mr Andronikashvili, is the US dollar. In the near future, Forte plans to expand the currency pair list available via ForteForex and is thoroughly contemplating further development of the product in order to offer new options to its customers.

"ForteForex provides our customers with a unique opportunity to independently determine the transaction exchange rate. A significant number of our customers have already appreciated its convenience and advantages,” says Mr Guram Andronikashvili.

Forte’s ecosystem is continuously complemented by the new services and demonstrates solid results.

In 2020, ForteBank became the bank of the year in Kazakhstan for the third time, according to The Banker.

While commenting on the award, Mr Guram Andronikashvili notes, “We are grateful to The Banker for such a high praise of our achievements during this challenging year. Despite the adverse market conditions complicated by the pandemic, ForteBank continues to support its customers and offers high-quality innovative services. Our bank is one of the highly liquid and well-capitalized financial institutions in the country.”

In 2021, Forte will focus on the digitalisation of its processes, so its customers will have access to all basic services without the need to visit the bank. Additionally, Forte plans to revise the terms and conditions of its products to make them more convenient and easier to use. Forte intends to continue working to pleasantly surprise its customers by offering convenient solutions and services, to assist the users with their work and provide them with more free time to rest.

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