BAKU, Azerbaijan, September 21. TBC Bank Uzbekistan, a subsidiary of Georgian TBC Bank Group PLC, is supporting development of digital-banking in Uzbekistan through three main areas, the bank told Trend.
One area is infrastructure development, which is receiving a boost thanks to digital banking. TBC Bank Uzbekistan was the first bank that received a digital bank license in Uzbekistan in April 2020. The trend was picked up by two other banks - Anor Bank and Apelsin.
“The presence of several players in the market allows us to drive infrastructure development further, both in terms of technical and legislative aspects. For example, in 2019, when we requested information from the Credit Bureau, the response has decreased significantly,” the bank said.
Another area is improving the conditions for healthy competition.
“TBC is constantly working to provide a first-class digital experience in provision of financial services through its TBC UZ mobile application. By offering favorable conditions for online microloans, deposits, as well as P2P (peer-to-peer) transfer services, installments, payments, the bank contributes to improving competition, which ultimately leads to positive changes in the market for end users,” said the bank.
The final area is improving work with current and potential users.
"TBC invests in financial education within the framework of the FinEdu project. Through this project the bank organizes meetings and workshops, publishes articles, records videos and podcasts to urge its target audience to approach financial planning more competently," said the bank.