What Prime Source does

Prime Source (ТОО «Prime Source» / Прайм Сорс) is a Kazakhstani enterprise IT company founded in 2006 and headquartered in Almaty, with a regional office in Nur-Sultan (Astana) and a San Francisco office via the Open Civilization entity. The company delivers IT outsourcing, custom software development, and proprietary enterprise solutions primarily to banks, financial organizations, and government entities in Kazakhstan. Its core products include a proprietary AML/anti-money laundering system that processes 80% of Kazakhstan's daily banking operations, a Credit Factory (SAKD) credit automation platform, CRM and BPM systems, Big Data/Data Warehouse solutions, RPA, IoT/ATM monitoring (Orion, Argos, Cash Logic), and an omnichannel Digital Banking platform. The technology stack is built on IBM infrastructure (Prime Source holds the only IBM Platinum Business Partner status in Kazakhstan), supplemented by SAP, Oracle, FICO, Microsoft, and Qlik integrations, with proprietary open-source components including DQ_TECH, DQ_STAT, and DQ_BUSINESS data quality tools.

The company generates revenue through a mix of professional services (IT outsourcing, consulting using PMBoK/Agile/Scrum methodologies), software licensing for proprietary products, and recurring subscription revenue from cloud services (Prime Cloud) and compliance platforms. Its primary customer segment is banks and financial organizations (30+ Kazakh banks including the top 20), with secondary segments in government/quasi-state (Baiterek, National Payment Corporation, Kazakhstan Revenue Committee), telecommunications (Beeline, Kcell), oil and gas (KazMunayGas), and retail (Magnum Cash & Carry). Documented outcomes include 70% reduction in AML investigation time, 30% reduction in false positives, 4x increase in loan application volume via Credit Factory, and 80% reduction in load on source systems through data warehouse implementations.

In July 2022, Prime Source merged with US-based FatBrain AI in a transaction valued at approximately $18 million, with Prime Source owners receiving equity in the combined entity and the company becoming part of the FatBrain AI corporate group while retaining operational independence. In July 2024, the company entered a strategic partnership with BGlobal Ventures (a subsidiary of Qazaqstan Investment Corporation JSC under National Managing Holding Baiterek) to develop the Fin4B.GovCare.kz platform for SME access to government financing. The company has delivered over 400 projects across Kazakhstan, Russia, and the United States and employs approximately 200 professionals.

Name

Prime Source

Legal name

ТОО «Prime Source» (Прайм Сорс)

Website

http://p-s.kz

Company type

Private

Founded year

2007

Operating status

Operating

Headcount range

101–250 employees

Short description

Prime Source is a Kazakhstani enterprise IT company founded in 2006, delivering proprietary AML, credit automation, CRM, BPM, and digital banking software alongside IBM-based IT outsourcing to banks, financial institutions, and government entities across Kazakhstan and the CIS.

Ownership category

akta.pro rank

Product category

Enterprise Banking Software

NAICS

Software Publishers (5132), Software Publishers (513210), Computer Systems Design and Related Services (54151), Computing Infrastructure Providers, Data Processing, Web Hosting, and Related Services (518)

SIC

Services-Prepackaged Software (7372), Services-Computer Programming, Data Processing, Etc. (7370)

akta.pro primary industry

Industry/Domain Analytics Solutions & Accelerators (BPAEAHAK)

Keywords

• Banking software solutions
• AML compliance systems
• Credit automation software
• Enterprise IT outsourcing
• Digital banking platforms

Headquarters

HQ city

Almaty

HQ country

Kazakhstan

HQ region

Asia

Offices3 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure, Supply Chain

Revenue model

1. IT Outsourcing and Software Development Services: IT outsourcing and implementation services including consulting, project implementation using PMBoK, Agile, Scrum methodologies. Revenue generated from project fees for digital transformation and IT system implementations.
2. AML and Compliance Software Licensing: Proprietary AML and anti-fraud systems sold to financial institutions with modular architecture allowing customers to select optimal solutions and expand functionality as needed.
3. Credit Factory Platform Licensing: Credit automation platform sold to banks with own developments making solutions cost-effective, faster and more efficient. No additional modules or licenses required.
4. IBM API Connect and Integration Services: Revenue from implementing IBM API Connect and integration bus solutions for enterprise clients.
5. Data Science and AI Consulting: Advanced AI and machine learning implementations, predictive model development, and ongoing data science consulting for enterprise clients.
6. Prime Cloud - Digital Cloud Services: Cloud services revenue from AI and cloud solutions enabling organizations to simplify decision-making and use data for business growth.

Go-to-market motion2 records

Distribution channels5 records

Marketing channels7 records

Core offering

Prime Source delivers enterprise IT outsourcing and software development for banks, financial institutions, government bodies, and large corporations, primarily in Kazakhstan. It builds and licenses proprietary products — including its AML system (covering 80% of Kazakhstan's daily banking operations), Credit Factory (SAKD) credit automation, Prime Source CRM, BPM, Big Data platform, Digital Bank omnichannel platform, Open API, and IoT solutions — while also serving as the sole IBM Platinum Business Partner in Kazakhstan, reselling and implementing IBM, SAP, Oracle, Microsoft, and FICO software stacks.

Product overview

Prime Source is an IT outsourcing and software development company offering a modular portfolio of products primarily for the banking, financial, and government sectors in Kazakhstan. The portfolio consists of proprietary products combined with solutions based on IBM, SAP, Oracle, Microsoft, FICO, and Qlik platforms. The core offerings include: Prime Cloud (AI/cloud platform), Big Data and Data Warehouse solutions, Data Science and Business Intelligence tools, CRM, BPM, and RPA systems for process automation, Credit Factory for lending automation, AML and Anti-fraud for compliance, Operational Risk Management and Credit Risk Management, Open API and Integration Bus for connectivity, IoT for situational centers and ATM management, and a full Digital Banking platform. These products are designed to work together within a modular, scalable architecture, enabling banks and enterprises to build comprehensive digital ecosystems.

Differentiator

Problem solved

Functional benefit

Brands

• Prime Cloud: Digital cloud services for business, including AI and cloud solutions that help organizations simplify decision-making and use data for growth.
• Prime Zakup
• Fin4B

Products and services

• Prime Cloud Cloud and AI platform that lets organizations simplify decision-making and use data for business growth, preservation, and improvement; part of Prime Source's AI and cloud ecosystem.
• Procurement Analytics (Аналитика закупок) Procurement analytics service that supplies data on completed procurements from Samruk-Kazyna and government platforms over the past 2 years (totaling more than 28.5 trillion tenge), enabling competitive advantage in procurement decisions.
• Big Data Comprehensive Data Lake solution combining structured and unstructured data storage, a BI system, proprietary Data Quality tools, and RTDM tools for advanced analytics to improve information quality and decision-making.
• Business Intelligence BI solution for complex reporting including management, regulatory, risk, tax, and custom reporting, supporting IBM Cognos, SAP BusinessObjects, Qlik, Power BI, Tableau, and Oracle BI.
• Robotic Process Automation (RPA) RPA solution using software robots to perform repetitive tasks 24/7, reducing manual work by up to 30% across banking and financial processes.
• Business Process Management (BPM) Automated business process management system based on IBM BPM and FICO BPM for modeling, execution, and monitoring of business processes.
• Customer Relationship Management (CRM) CRM solutions for sales, lead generation, marketing automation, and customer interaction on Microsoft Dynamics CRM, Creatio, and proprietary Prime Source CRM platforms.
• Credit Factory (САКД) Credit activity automation system that collects credit applications from web, POS, and mobile channels, verifies client identity and contacts, assesses creditworthiness (automatically or manually), and prepares and stores documents electronically.
• AML and Anti-Fraud Anti-money laundering and fraud detection systems for financial institutions using machine learning, topological data analysis, and 40+ built-in scenarios; the core AML system processes approximately 80% of Kazakhstan's daily banking operations.
• Operational Risk Management Corporate risk management system for identifying, measuring, controlling, and reducing operational and credit risks, including Basel compliance.
• Open API Open API implementation using IBM API Connect that enables secure access to business services, data exchange between systems, partner integration, and monetization through Internal, Partner, or Public API access.
• Internet of Things (IoT) Situational center solutions, IoT platforms, ATM monitoring (Orion), video surveillance (Argos), cash flow management (Cash Logic), and telemetry for smart city and enterprise applications.
• Integration Bus (ESB) Enterprise Service Bus using IBM Integration Bus for transaction control, data transformation, message delivery, and connecting applications in one point.
• Digital Bank — Internet and Mobile Banking Platform Omni-channel digital banking platform with internet banking, mobile banking, e-commerce, NFC wallet, payment gateway, chatbot, loyalty management, and social banking capabilities.
• Credit Risk Management Credit risk management system for identifying, measuring, controlling, and reducing credit risks including IFRS 9, SREP, AQR compliance, and stress testing.
• Data Warehouse (DWH) Corporate data warehouse for banks and enterprises with ETL processes, proprietary data quality tools (DQ_TECH, DQ_STAT, DQ_BUSINESS), and BI integration.
• Fin4B / GovCare.kz Platform AI platform developed jointly with Baiterek Holding and BGlobal Ventures for SME financing and government support in Kazakhstan, digitizing the process from application submission to resource-use monitoring and automated reporting to state structures through the Fin4B.GovCare.kz portal.

Quantifiable outcome

• AML system reduces investigation time by 70%
• +16 more outcomes

Named customers35 records

Segments6 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration35 records

AI capability13 records

Feature10 records

Partnerships

Nine partnerships are on record, tiered flagship, core and minor.

• BGlobal Ventures (subsidiary of Qazaqstan Investment Corporation)flagshipStrategic or Co-development Partner · 14 July 2025BGlobal Ventures, a subsidiary of Qazaqstan Investment Corporation JSC and part of the National Managing Holding Baiterek, became a strategic partner of Prime Source. The goal of the partnership is to jointly develop digital tools for improving SME access to government support measures. The initiative is implemented through Fin4B.GovCare.kz, a specialized digital platform for SME financing and government support.
• FatBrain AI (USA)coreStrategic or Co-development Partner · 14 July 2022In July 2022, US-based FatBrain AI merged with Prime Source. FatBrain AI founder Peter Ritz described this as a significant M&A deal in Kazakhstan's IT sector. The merger brought additional AI and international expertise to Prime Source's offerings. The deal was covered as one of the most significant M&A transactions in Kazakhstan in 2022.
• IBM (Platinum Business Partner)flagshipTechnology or Integration · 3 December 2018Prime Source is the only Kazakhstani company with IBM Platinum Business Partner status. This partnership enables access to IBM's full technology stack including BPM, Cognos, SPSS, API Connect, Watson IoT, Integration Bus, and other solutions. The partnership provides best pricing on the market and ensures clients receive quality services and competencies.
• Expert Ecosystem - Subject Matter Expert NetworkcoreOthersPrime Source developed an expert ecosystem called Subject Matter Expert, which unites current and former top managers of the largest organizations such as Matrix-IFS, Oliver Wyman, Barclays Bank, JP Morgan Chase, Citi, Stripe, PayPal. This network provides access to elite international expertise for complex client engagements.
• Education Partnership (NARXOZ University)minorOthersCEO Evgeniy Shcherbinin serves on the Employers Council of NARXOZ University (Kazakhstan). The company participates in university events and shares industry experience with students. Prime Source also cooperates with Yandex School of Data Analysis.
• Educational IT AllianceminorOthersAn educational IT Alliance was created in Kazakhstan with Prime Source participation, aimed at developing IT education and talent pipeline.
• Digital Almaty / Digital Bridge ForumsminorGTM or Marketing PartnerPrime Source participates as a speaker and session moderator at major digital transformation forums including Digital Bridge and Digital Almaty, positioning the company at the forefront of Kazakhstan's digital agenda.
• AtyrauHub Joint Venture - RobowareminorStrategic or Co-development PartnerPrime Source jointly created a joint venture called Roboware with AtyrauHub in March 2022 for robotic automation solutions.
• IKCEICT CooperationminorOthersPrime Source cooperates with IKCEICT (International Kazakh-Chinese Educational Institute of Continuing Education) for professional development and training programs.

Scale indicators10 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Luxoft (DXC Technology): Global IT services firm with deep CIS roots that delivers digital transformation, banking, and financial services software engineering to large enterprises. Highly comparable to Prime Source in banking/financial services focus, project-based delivery model, and Eastern European engineering talent base.
• EPAM Systems: Global digital engineering services company with origins in Belarus/CIS, providing software development, data, and cloud services to financial services and enterprise clients. Directly comparable to Prime Source in delivery model, banking vertical focus, and CIS engineering talent pool.
• SoftServe: Ukraine-headquartered IT services and consulting firm with strong banking/financial services practice across Central and Eastern Europe. Comparable to Prime Source in geographic orientation, banking vertical, and software engineering / data analytics capabilities.
• NICE Actimize: Specialist in financial crime, AML, and fraud detection software for global banks. Direct peer to Prime Source's AML and Anti-fraud product line, addressing the same compliance, transaction monitoring, and case management use cases for large banks.

Broad incumbents

• FICO: Global analytics and decisioning software company whose FICO Origination Manager and FICO BPM products Prime Source implements. Comparable as a competitor in the credit decisioning, risk management, and banking analytics space where Prime Source operates.
• SAS Institute: Global analytics, AI, and risk management software vendor whose products (SAS Real-Time Decision Manager, SAS Analytics) Prime Source implements and trains clients on. A broader incumbent that overlaps with Prime Source's analytics, fraud, and credit scoring offerings.
• Tata Consultancy Services (TCS): Global IT services and consulting giant with a large banking, financial services, and risk management practice. Comparable as a broad incumbent competing for bank IT modernization, digital transformation, and regulatory compliance projects at scale.
• Capgemini: Global IT services and digital transformation firm with deep banking and financial services capabilities, including risk, compliance, and data analytics. Broad incumbent comparable to Prime Source in target customers and solution scope, though with vastly larger scale.

Emerging players

• Feedzai: AI-native financial crime and AML/fraud detection platform serving global banks and fintechs. Emerging player comparable to Prime Source's AML and Anti-fraud product line, with a more modern AI/ML-native architecture and growing presence in emerging markets.
• Quantexa: Decision intelligence platform specializing in AML, KYC, and financial crime detection using entity resolution and network analytics. Emerging specialist peer to Prime Source AML with overlapping use cases in compliance and contextual monitoring for banks.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat7 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/PrimeSourceOfficial
• LinkedInlinkedin.com/company/3779050

Compliance8 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Subsidiaries3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Prime Source