Dmitry Danilenko

SBO Insights as a media partner is pleased to share with you the following information: Markswebb will hold a free online meetup on June 4th to discuss the results of the Mobile Banking Rank Uzbekistan 2024 study on mobile banks for individuals in Uzbekistan. ⏰ Start time: 11:00 AM Moscow time — which is 1:00 PM Tashkent time. Participation is free, but registration is required. Available at the link: https://lnkd.in/dMTE_Pyy What participants will learn at the meetup: How mobile banks in Uzbekistan can increase trust in their services and the potential barriers they may face. What tools are lacking in the market to stimulate customer loyalty and what can improve customer retention. Examples of solutions tested by banks in the CIS and Europe that can be used not only in the Uzbekistan market but also in fintech services in other countries to achieve business goals and create a qualitatively new user experience.

KPMG Caucasus and Central Asia conducted a study on non-cash payments, POS financing and BNPL segments in Uzbekistan. According to forecasts based on the research, a twofold increase in the volume of payments and transfers is expected by 2027. Key points: - Updated requirements for payment organizations are driving market consolidation; - Aggregate annual growth in monetary transfers leads to a 22% increase in non-cash transactions volumes up to 2027; - The total volume of non-cash transactions (payments and transfers) is forecasted to range from $107 billion to $125 billion by 2027; - The POS (Point-of-sale) financing and BNPL market is expected to see a fourfold increase in transaction volume by 2027; - Within the analysis of the POS financing and BNPL, key players assessed the Gross Merchandise Volume (GMV) market size to be from $450 million to $500 million; - The total market volume of POS financing and BNPL (Buy Now, Pay Later) is forecasted to range from $1.5 billion to $2 billion in GMV by 2027. Aggressive growth is expected in the e commerce segment. Consumers demonstrate more trust in online installment services, while market participants are reducing the decision-making process for financing to 1 minute. #uzbekistan #fintech #payments #bnpl #development #research #kpmg

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On April 18, the SYSTEM TECHNOLOGIES company held a business breakfast event for representatives of Azerbaijani banks in Baku. The morning meeting was organized by our company together with the GY Event agency (Azerbaijan) and the Azerbaijan Banks Association. "Successful Digital Brand. Bank or Fintech?" business breakfast was dedicated to the topic of building digital brands for banks and fintech companies. Moderated by Chief commercial officer Julia Shigaeva and Executive director Dima Lazarchyk the event brought to the table different actual topics as moving from legacy to open source, buying codes and teams (or not?), banks becoming fintechs or vis versa etc. During the event, representatives of the SYSTEM TECHNOLOGIES was talking about: • Alexandr Putyato, Executive Director: "Why do Banks need a Digital Brand?"; • Pavel Shikarev, Digital Banking Project Manager: "Designing Tomorrow's Bank: Focus on Human-Centric Solutions"; • Аnn Kandratsyeva, Head of Financial Systems Development: "New generation of Core Banking Systems as necessary attribute of a modern Digital Bank". Together with the invited audience, colleagues discussed trends in building digital brands, global trends in the development of Digital Banking, opportunities to improve the Bank's business efficiency with the new generation of IT solution and possibility of creating an interaction ecosystem between clients and the Bank using a single fintech application. In the relaxed atmosphere of the business breakfast, participants not only received useful information, but were able to analyze industry cases, collect practical advice and be inspired by fresh ideas. The SYSTEM TECHNOLOGIES has been working with the digitalization of the financial sector for many years. Company is an expert in building a digital brand and helps to make the client’s business truly effective. #SystemTechnologies #STevent #STseminar #BusinessBreakfast #BusinessMeeting #DigitalTransformation #DigitalBrand #DigitalBank #CoreBankingSystem #Fintech #STBrand

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Introducing IT Park Ventures: Driving Innovation and Growth in Uzbekistan’s Startup Ecosystem I am proud to announce the official launch of IT Park Ventures, Uzbekistan's dedicated venture fund aimed at fostering innovation and providing critical support to promising startups. With a fund size of $10 million, IT Park Ventures is here to bridge the gap between ambitious entrepreneurs and the investment ecosystem. Our mission goes beyond funding; we’re committed to strategic guidance, tailored mentorship, and scaling transformative ideas into successful ventures. Key Highlights: - Initial investments range from $15,000 to $150,000, depending on the stage and potential of the startup. - Follow-on funding for mature startups is available in amounts from $150,000 to $300,000. The fund will focus on sectors like AI & ML, FinTech, GreenTech, GameDev, EdTech, and other industries. #ITParkVentures #StartupEcosystem #Uzbekistan #VentureCapital

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S1lkPay A new crypto card with a new stablecoin settlement option no longer requires to keep a certain fiat deposit insurance amount at card issuers’ bank account and top up whenever it is below the limit through SWIFT transfers in case of dollars. A new crypto card with a new stablecoin option allows companies settles with card issuers in stablecoins directly 24/7/365 without any bank involvement. This brings more operational and liquidity efficiencies…. And we can do it….

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Banking sector in Uzbekistan sees 22.3% decline in 1Q24 profit A significant aspect of this performance is the National Bank of Uzbekistan's share in the sector's profit, which reached 19.5%, up from 14% recorded at the end of 2023. 👉Details — https://lnkd.in/dPXFNJQ8 #Uzbekistan #BankingSector #Finance #ProfitDecline #NationalBankUzbekistan #NBU #EconomicTrends #FinancialPerformance #BankingNews #Investment #EconomicGrowth #BusinessNews #SMEs #MarketTrends

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ZOOD Tech Brings Over 100 Top IT Developers to Transform Uzbekistan’s Fintech Future     To address Uzbekistan’s growing demand for advanced fintech solutions, ZOOD Tech will, starting January 1st, provide a team of 100 senior IT developers and product managers to support the growth and innovation efforts of local startups, banks, and financial institutions.   The team's expertise spans across key areas of digital finance, including lending platforms, e-commerce lending , risk and fraud management, and payment infrastructure.    Already the technology provider for ZOOD Mall and ZOOD Pay, as well as a partner of Mastercard as their official "BNPL in a box" technology provider in EEMEA, ZOOD Tech is committed to delivering the infrastructure, IT team, and expertise necessary to support Uzbekistan’s digital financial transformation.     Operating under an IT outsourcing model, ZOOD Tech will enable Uzbekistan businesses to access top-tier IT talent and solutions, ensuring scalability and efficiency in their digital initiatives.    About ZOOD Tech : ZOOD Tech is a BNPL-as-a-Service hub of Mastercard delivering cloud-native, end-to-end BNPL solutions for financial institutions, retailers, and processors. Its platform streamlines lending — from onboarding and credit scoring to loan management and compliance — enabling businesses to launch flexible, white-labeled installment offerings both online and in-store with speed and scale.]    More information: [email protected] - www.zood.biz/tech #zood #zoodtech #uzbekistan #saas #lending #marketplace #logistic #itoutsource #bnpl

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Uzbekistan mobile bank TBC UZ raises $38.2M to expand its financial products Uzbekistan’s only mobile-exclusive bank, TBC Bank Uzbekistan, owned by London Stock Exchange-listed TBC Bank Group, has raised $38.2 million in a fresh equity investment. It plans to expand its local presence in the country and introduce new financial products, as well. TBC Bank Group has led the latest funding in TBC Bank Uzbekistan by infusing $23 million, while shareholders European Bank for Reconstruction and Development (EBRD) and World Bank’s International Financial Corporation (IFC) have participated in the round by investing $7.6 million each. After serving customers in Georgia, TBC Bank Group decided to expand outside that country’s borders in 2019 and found Uzbekistan as its first international market. The bank started its Uzbekistan operations in 2020 through a separate entity, TBC Group Uzbekistan, which launched the mobile-only bank after its debut, with no physical branches in the country. The plan was to leverage Uzbekistan’s increasing digitization effort and foresee business growth in the country, which has the biggest population after Russia and Ukraine in the region — the second-largest among all the Commonwealth of Independent States countries — and has upright economic and socio-demographics. “Before TBC came in, there were no banking apps in Uzbekistan … Fast forward four years, most of the banks have got a mobile app, but TBC is far ahead of the field,” said Oliver Hughes, head of international business at TBC Group, in an exclusive interview. According to official data, Uzbekistan has a 70% smartphone penetration rate and 77% internet penetration rate; 59% of its population of 37 million is under 30 years old, making it a viable market for a mobile-specific business. TBC Bank Uzbekistan offers a mobile app through which customers can open bank accounts and access services including cash loans and deposits. This omits the requirement of physically going to a bank branch to access banking. Hughes told TechCrunch that a couple of years ago, customers in Uzbekistan typically had to visit their bank and stand in a queue to get any of their banking work done. Alongside the mobile-only bank, TBC Group Uzbekistan owns Payme, the digital payments app for individual users and small businesses, as well as the Sharia-compliant credit business, called Payme Nasiya. To broaden its coverage, it looks to integrate some experiences from these two businesses within the bank or sync them with the bank’s operations. For instance, through its app, TBC Group Uzbekistan will offer tips, recommendations and user-generated content on local events, entertainment, concerts and travel to provide complementary services that are not strictly financially related. Some of these features will first arrive on the Payme app but will be available to the TBC Bank Uzbekistan customers over time. Source Techcrunch #fintech #banking #banking

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Startup World Cup is coming to Baku! 🌍 🌟 The Startup World Cup (SWC) is a global conference and competition that brings together top startups, VCs, entrepreneurs, and world-class tech CEOs. The event will be held in Baku, Azerbaijan, through the collaborative efforts of “Technovate Investments” and “Pegasus Tech Ventures.” SWC will take place on 20 September 2024 at the ADA University campus. 🥳 Who can apply? 🔽 Startup founders from Azerbaijan, Turkey, Georgia, Uzbekistan, Kazakhstan, and other countries are welcome to apply for the competition. Details 🔽 ➖ The startup must be a legal entity and not just an idea. ➖ Startups from any domain and at any stage can apply. ➖ Startups can apply to multiple regional competitions unless they are already a regional champion. Each regional winner will advance to the Grand Finale in San Francisco. ➖ A committee of representatives from venture capital firms, incubators, and angel investors will review the application. ➖ Each startup will have 4 minutes to pitch and 2 minutes of Q&A at the Grand Finale on 20 September at ADA University. 📌 Apply now as a startup: https://lnkd.in/eg7gADxB ➡️ More details at: www.startupworldcup.io/

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📢 The Fintech Association of Uzbekistan (FAU) has signed a Memorandum of Understanding (MOU) with the Azerbaijan Fintech Association (AZFINA). This strategic partnership aims to foster collaboration between the fintech markets of Uzbekistan and Azerbaijan. Together, we will focus on: Sharing insights and knowledge between fintech members in both countries Exploring potential projects in cross-border payments Supporting the growth of the startup ecosystem We are confident that this partnership will pave the way for new opportunities and innovations in fintech for both markets. Stay tuned for more updates! #FAU #AZFINA #FintechCollaboration #CrossBorderPayments #StartupEcosystem #KnowledgeSharing #FintechTransformation

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#Uzbekistan: JSC "PAYNET", One of the Largest #Fintech Operators in Uzbekistan, Won Tender to Acquire 100% State-Owned Shares of National Interbank Processing Center JSC (Humo) for US$ 65 Million. more: https://lnkd.in/dkz3HV_D Investa #privatization #emergingmarkets #payment #paymentoperators #IT #mergers #acquisitions #mergersandacquisitions #privateequity #assetmanagement #investmentmanagement #investing

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The Central Asian Fintech Association and the Association of Banks of Azerbaijan are actively engaging in discussions to forge a strategic partnership and collaboration agreement, Chairman of the Central Asian Fintech Association Otabek Nasirov told Trend. "I see significant potential for the growth of fintech and the Azerbaijani market, especially the financial services industry, which includes traditional banks. Two weeks ago, I was thrilled to read an article in which a representative of the Central Bank of Azerbaijan stated that bureaucratic barriers are being actively removed to allow foreign competitors, especially fintech companies, to enter the market. Furthermore, the paper communicated a clear message: the Central Bank of Azerbaijan is interested in strengthening competition. This approach is a call for foreign fintech companies to come to the country, open payment organizations, provide various services, and develop new products," Nasirov said. In his view, competition serves as the driving force that propels the economic machine forward. "I am delighted that the Central Bank of Azerbaijan concurs with this perspective. In terms of my expectations for the forum, I am confident that we will be able to execute a partnership and cooperation agreement in the near future, given my longstanding friendship with the Association of Banks of Azerbaijan. This agreement will serve as a foundation for the exchange of experiences and opinions on a variety of platforms with participants in the fintech market and financial services sector in Central Asia, as well as for the support of fintech actors and traditional banks. As we are aware, the post-pandemic market in Central Asia has experienced accelerated growth, particularly in the areas of fintech and e-commerce. We are certain that the numerous effective solutions we have implemented in Central Asia can serve as an exceptional foundation for their adaptation and introduction in Azerbaijan," the association's chairman added. Nasirov pointed out that this will open the floodgates to new solutions for consumers, making their lives a walk in the park, while also crafting products that can give corporate clients a leg up. https://lnkd.in/dUSXCtGj

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Kaspi.kz set to enter the Uzbekistan market This news was revealed by their CEO Mikhail Lomtadze, in a recent interview. The entry of one of the world's leading fintech companies (not just in the region) is a major milestone for the country. The Uzbek market is, in many ways, already primed for such significant international players. Here's why: 1. Explosive Growth in E-commerce: The sector is projected to grow sevenfold by 2027. 2. Widespread Internet Access: More than 80% of the population has reliable internet connectivity. 3. Young Demographics: 60% of the population (over 20 million people) are under 30 years old. 4. Rising Trend in Installment Purchases and Microloans: There is a notable increase in purchases made on credit and the issuance of microloans. 5. Surge in Cashless Payments: The share of cashless transactions has jumped from 31% in 2021 to over 40% in 2024. 6. Rapid Digitalisation of Services: For example, more than 400 government services can now be accessed online via mygov.uz. However, this doesn't mean they'll start operations immediately. Establishing a bank takes time, potentially up to a year. Hence, I expect Kaspi to be fully operational by the second half of 2025 or the beginning of 2026 year. Exciting times ahead 🙂 #uzbekistan #fintech #kaspikz #ecommerce

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Kazakhstan fintech market sees exponential growth: key trends and future outlook: Fintech now dominates venture capital deals in the country, accompanied by a noticeable rise in "bank+fintech startups" partnerships. Market Trends.

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Shared insights into Kazakhstan's Digital Assets Industry, with a focus on the crypto-to-fiat gateway and legal framework. Kazakhstan is heading in the right direction, and it is crucial that we maintain momentum, integrating digital assets seamlessly into the country’s financial system. #intebix #digitalassets #crypto #cryptoregulation https://lnkd.in/dK7rhNPe

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I had the honor to make a presentation on "Fintech for all: how new technologies make our lives better" at the conference “FinTech: transformation of banking and finance industry in Uzbekistan”.

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