Digital Transformation and Ecosystem Evolution of Kazakhstan’s Banks: An Integrative Review and Conceptual Model

Purpose of the research. The purpose of this article is to synthesize and systematize existing knowledge on the ecosystem competitiveness of Kazakhstani banks in the context of their transition to digital ecosystembased models, as well as to develop a conceptual model.

Methodology. The study employs an integrative literature review method based on methodological guidelines, using the Scopus, Google Scholar, and Dimensions databases for the period 2010–2025. The conceptual framework is built around the linkage between ecosystem maturity (EM), orchestration capabilities (OC), data governance quality and use (DGQ), the strength of the data–network–activity (DNA) cycle, and ecosystem-based competitiveness (EBC), with regulatory openness (RO), legacy burden, and BigTech pressure acting as moderating factors.

Originality / Value of the research. This study contributes to a holistic understanding of how the transition of Kazakhstani banks to digital ecosystem models affects their competitiveness. Its theoretical contribution lies in identifying research directions for future empirical and conceptual studies. The practical significance is reflected in the formulation of recommendations for prioritizing API partnerships, managing data quality, and standardizing interfaces.

Findings . The integrative literature review reveals that, in addition to the validated mechanisms EM→OC/ DGQ→DNA→EBC, the academic community is divided into two competing theoretical schools: (i) innovationoriented and (ii) institutional–regulatory. The review also enables the development of an integrated model of pathways to ecosystem competitiveness for banks in Kazakhstan. Within this model, ecosystem competitiveness is shaped through the interaction of (1) technological and platform maturity, (2) orchestration and analytical capabilities, including data management and the development of network effects, and (3) institutional and market conditions, primarily the regulatory environment and competitive pressure from BigTech firms. Positive ecosystem effects emerge only when these components develop in a coordinated manner.

1. Moore J. F. Predators and prey: A new ecology of competition // Harvard Business Review. 1993.Vol. 71, № 3. P. 75–86.

2. Moore J. F. The death of competition: Leadership and strategy in the age of business ecosystems. New York : HarperCollins, 1996.

3. Briscoe G., De Wilde P. Digital ecosystems: Evolving service-oriented architectures // Computer Science. 2009.

4. Puschmann T., Alt R. Digitalisierung der Finanzindustrie: Grundlagen der Fintech-Evolution.Springer, 2016. DOI: 10.1007/978-3-662-50542-7.

5. Puschmann T. Fintech and banks: How can the financial services industry benefit from fintech’s success? // European Journal of Information Systems. 2017. Vol. 26, № 3. P. 293–320.

6. Schreieck M., Wiesche M., Krcmar H. From product platform ecosystem to innovation platform ecosystem: An institutional perspective on the governance of ecosystem transformations // Journal of the Association for Information Systems. 2022. Vol. 23, № 6. P. 1354–1385. DOI: 10.17705/1jais.00764.

7. Schreieck M., Huang Y., Kupfer A., Krcmar H. The effect of digital platform strategies on firm value in the banking industry // Journal of Management Information Systems. 2024. Vol. 41, № 2.

8. Whittemore R., Knafl K. The integrative review: Updated methodology // Journal of Advanced Nursing. 2005. Vol. 52, № 5. P. 546–553.

9. OECD. Digital disruption in banking and its impact on competition // OECD Roundtables on Competition Policy Papers. 2020. № 243. DOI: 10.1787/b8d8fcb1-en.

10. Briones de Araluze G. K., Cassinello Plaza N. Open banking: A bibliometric analysis-driven definition // PLOS ONE. 2022. Vol. 17, № 10. e0275496. DOI: 10.1371/journal.pone.0275496.

11. Brown I. The UK’s Midata and Open Banking programmes: A case study of data portability and interoperability requirements // Technology and Regulation. 2022. P. 113–123.

12. Abdurrahman A. Investigating the impact of digital business ecosystem in enhancing Islamic mobile banking adoption through the TOE framework // Digital Business. 2024. Vol. 4, № 2. 100096. DOI: 10.1016/j.digbus.2024.100096.

13. Abdurrahman A., Gustomo A., Prasetio E. A. Impact of dynamic capabilities on digital transformation and innovation to improve banking performance: A TOE framework study // Journal of Open Innovation: Technology, Market, and Complexity. 2024. Vol. 10, № 1. 100215. DOI: 10.1016/j.joitmc.2024.100215.

14. Национальный банк Республики Казахстан. Open API / Open Banking итоги пилота и план масштабирования. 2023–2025. URL: https://nationalbank.kz/en/page/Digital-Financial-Infrastructure.

15. Bank for International Settlements. Big tech in finance: Market structure and fintech. Basel : BIS, 2021.

16. Bank for International Settlements. Big techs in finance: On the new nexus between data privacy and competition. Basel : BIS, 2021. (BIS Working Papers ; No. 970).

17. Bank for International Settlements. Big techs in finance. Basel : BIS, 2023. (BIS Working Papers ; No. 1129).

18. European Banking Authority. EBA report on the use of digital platforms. Paris : European Banking Authority, 2021.

19. European Banking Authority. Report on 2023 stocktaking of BigTech direct financial services provision. Paris : European Banking Authority, 2024.

20. Agentstvo po regulirovaniyu i razvitiyu finansovogo rynka Respubliki Kazakhstan. (2025). Tekushchee sostoyanie bankovskogo sektora Respubliki Kazakhstan. https://www.gov.kz/uploads/2025/6/13/c3512c98511278845d36d5b10179eef7_original.506916.pdf (In Russian)

21. Ali Alqararah E., Shehadeh M., Yaseen H. The role of digital transformation capabilities in improving banking performance in Jordanian commercial banks // Journal of Risk and Financial Management. 2025. Vol. 18, № 4. 196. DOI: 10.3390/jrfm18040196.

22. Anindyastri R., Lestari W. D., Sholahuddin M. The influence of financial technology (Fintech) on the financial performance of Islamic banking (study on Islamic banking listed on the Indonesia Stock Exchange period 2016–2020) // Benefit: Jurnal Manajemen dan Bisnis. 2022. Vol. 7, № 1.

23. Ysqaqbek, M., & Nurbatsin, A. S. (2024). Vliyanie tsifrovoi transformatsii na effektivnost' bankovskogo sektora Kazakhstana. Qainar Journal of Social Science, 3(3), 6–23. https://doi.org/10.58732/2958-7212-20243-6-23 (In Russian)

24. Gumar, N. A., Zhanibekova, G. K., Imramzieva, M. Yu., Kabdeshova, A. A., & Isaeva, A. T. (2023). Vliyanie tsifrovykh tekhnologii na effektivnost' bankovskoi deyatel'nosti. Economy: Strategy and Practice, 18(3), 241–250. https://doi.org/10.51176/1997-9967-2023-3-241-250 (In Russian)

25. Begimkulov E. Bank digitalization and financial stability in Central Asia: Assessing risk and resilience // Journal of Eastern European and Central Asian Research. 2025. Vol. 12, № 1. P. 17–30. DOI: 10.15549/jeecar.v12i1.2100.

26. Begimkulov E., Kuti M. The impact of bank competition on stability in Central Asia: The moderating role of bank digitalization // Public Finance Quarterly. 2025. Vol. 71, № 1. P. 87–106. DOI: 10.35551/PFQ_2025_1_5.

27. Boopathy A. V., Eswaran J. K., Ravichandiran G., Paramasivan C. A study on transforming dynamics of digital banking: An Indian perspective // Research Explorer: International Journal on Economics and Business Management. 2025. Vol. 14, № 46.

28. Buraera J., Parawansa D. A. S., Asdar M., Mappanyompa A. N. B. Transforming customer engagement through banking super apps: The mediating role of customer ecosystem innovation in value integration // International Journal of Environmental Sciences. 2025. Vol. 11, № 4. P. 1775–1800. DOI: 10.64252/4s433z88.

29. Nanang Setiawan, Alfa Rahmiati. Exploring the determinants of digital banking adoption among Islamic banks in Indonesia // International Conference on Islamic Economic (ICIE). 2025. Vol. 4, № 1. P. 151–170. DOI: 10.58223/wh7pdh34.

30. Golubev A., Ryabov O., Zolotarev A. Digital transformation of the banking system of Russia with the introduction of blockchain and artificial intelligence technologies // IOP Conference Series: Materials Science and Engineering. 2020. Vol. 940, № 1. 012041. DOI: 10.1088/1757-899X/940/1/012041.

31. Hoang T. K. L., Le V. Customer experience for digital banking service quality in Vietnam // International Journal of Science and Research Archive. 2024. Vol. 12, № 2. P. 1371–1381. DOI: 10.30574/ijsra.2024.12.2.1391.

32. Iatzaz Ul Hassan M., Wu M., Lu J. et al. Financial technology and banking performance in developing countries: Evidence from an advanced quantile regression approach // Humanities and Social Sciences Communications. 2025. Vol. 12. 1455. DOI: 10.1057/s41599-025-05571-8.

33. Jain S., Sahu J. P. Banking the unbanked: Exploring the impact of internet penetration on accessibility to banking services in developed and developing economies // Digital Policy, Regulation and Governance. 2025. Vol. 27, № 1. P. 94–115. DOI: 10.1108/DPRG-02-2024-0021.

34. Kelly A. E. Adoption of mobile money banking in Ghana, using an innovative framework of financial security, governance, and technology (FisGoT) model // Sustainable Futures. 2025. Vol. 10. 100883. DOI: 10.1016/j.sftr.2025.100883.

35. Liu T. L., Naveed M. M., Mustafa S. et al. Analysing the impact of digital technology diffusion on the efficiency and convergence process of the commercial banking industry of Pakistan // Humanities and Social Sciences Communications. 2024. Vol. 11. 792. DOI: 10.1057/s41599-024-03184-1.

36. Liu Z., Feng Q., Li H. Digital finance, bank competition shocks and operational efficiency of local commercial banks in Western China // Pacific-Basin Finance Journal. 2024. Vol. 85. 102377. DOI: 10.1016/j.pacfin.2024.102377.

37. Mamadiyarov Z. Comparative analysis of digital banking adoption in Central Asia: Opportunities and barriers // Excellencia: International Multi-Disciplinary Journal of Education. 2024. Vol. 2, № 8. P. 452–458.

38. Matkovskaya Y. S., Vechkinzova E., Biryukov V. Banking ecosystems: Identification latent innovation opportunities increasing their long-term competitiveness based on a model the technological increment // Journal of Open Innovation: Technology, Market, and Complexity. 2022. Vol. 8, № 3. 143. DOI: 10.3390/joitmc8030143.

39. Mukusheva A. G., Zholamanova M. T., Kuchukova N. K. Financial technologies in the banking sector: Prospects and security // Buketov Business Review. 2021. Vol. 101, № 1. P. 92–102. DOI: 10.31489/2021ec1/92-102.

40. Kolodiziev O., Krupka M., Shulga N., Kulchytskyy M., Lozynska O. The level of digital transformation affecting the competitiveness of banks // Banks and Bank Systems. 2021. Vol. 16, № 1. P. 81–91. DOI: 10.21511/bbs.16(1).2021.08.

41. Prokopenko O., Zholamanova M., Mazurenko V., Kozlianchenko O., Muravskyi O. Improving customer relations in the banking sector of Ukraine through the development of priority digital banking products and services: Evidence from Poland // Banks and Bank Systems. 2022. Vol. 17, № 3. P. 12–26. DOI: 10.21511/bbs.17(3).2022.02.

42. Priyanto P., Murwaningsari E., Augustine Y. Impact digital business strategy on competitive advantage in the banking sector // European Journal of Business and Management Research. 2023. Vol. 8, № 2. P. 65–70.

43. Rahat M. R., Zuhora F. T., Chowdhury C. Bangladesh’s banking revolution: Unveiling the potential and challenges of digital banks // BAIUST Academic Journal. 2024. Vol. 5, № 1. P. 40–52. DOI: 10.63307/BAJ.5.1.003.

44. Rahmadhany K. N., Wahyudi H. D. Analysis of the impact of funding, lending, and digital banking on the financial performance of the banking sector // Proceeding ISETH (International Summit on Science, Technology, and Humanity). 2025. DOI: 10.23917/iseth.5389.

45. Sambaombe J. K., Phiri J. An analysis of the impact of online banking on customer satisfaction in commercial banks based on the TRA model (A case study of Stanbic Bank Lusaka main branch) // Open Journal of Business and Management. 2022. Vol. 10, № 1. P. 369–386. DOI: 10.4236/ojbm.2022.101022.

46. Stefanelli V., Manta F. Digital financial services and open banking innovation: Are banks becoming ‘invisible’? // Global Business Review. 2023. Vol. 24, № 1. P. 1–18. DOI: 10.1177/09721509231151491.

47. Sultanova M., Sultanov A., Zhangaliyeva Y., Zhanibekova G., Ordabayeva M., Zamanbekova A., Ibadildin N., Primbetova S. Identifying features of the level of digitalization of banking services in different countries // Eastern-European Journal of Enterprise Technologies. 2024. Vol. 5, № 13 (131). P. 58–66. DOI: 10.15587/1729-4061.2024.312341.

48. Galazova S. S. Digital banking ecosystems: Comparative analysis and competition regulation in Russia // Journal of New Economy. 2023. Vol. 24, № 4. P. 82–106. DOI: 10.29141/2658-5081-2023-244-5.

49. Syed M., Azhar Z. Growing share of digital payments in Asian economy: Evidence from banking and customer perspective // Proceedings of the 5th USM-International Conference on Social Sciences (USMICOSS) / I. H. M. Hashim, N. H. Selamat, S. A. Bono, L. W. Teng, N. A. Khalid, S. A. Baharudin, C. H. Yan (Eds.). School of Social Sciences, Universiti Sains Malaysia, 2023. P. 128–136.

50. Thuda A. Does digital banking elevate bank competitiveness? A case in Indonesia Regional Development Bank // ACM International Conference Proceeding Series. 2023. P. 145–151. DOI: 10.1145/3616712.3616752.

51. Xu Y., Mohsein bt Abdul Mohsin A., Yang F. Market concentration, digital transformation, and bank credit risk in China: Evidence from GMM estimation // Humanities and Social Sciences Communications. 2025. Vol. 12. 990. DOI: 10.1057/s41599-025-05319-4.

52. YuSheng K., Ibrahim M. Innovation capabilities, innovation types, and firm performance: Evidence from the banking sector of Ghana // SAGE Open. 2020. Vol. 10, № 2. P. 1–12. DOI: 10.1177/2158244020920892.

53. Zhang T., Jia F., Chen L., Blome C., Ball P. From platformization to ecosystem: How do third-party supply chain finance platforms develop an ecosystem? An inter-organizational network perspective // International Journal of Production Economics. 2025. Vol. 281. 109521. DOI: 10.1016/j.ijpe.2025.109521.