High mobile phone penetration in Mongolia has driven domestic banks to ramp up their digital transformation efforts. Khan Bank was the first in Mongolia to introduce internet banking in 2007. Its mobile application was launched in 2013, and in 2022, users of its digital platform totalled 1.7 million (close to 50% of the population), with the ratio of transactions made through digital channels over conventional reaching 99%.
December 07, 2023
