BRB Bank joins the team of factors on the OZ PLANET digital platform

On 3 October 2024 BRB Bank (Business Development Bank) joined the OZ PLANET digital platform, giving the bank's clients and platform users access to the bank's factoring financing remotely.

BRB strives to offer advanced solutions to its clients, so the bank's management chose digital factoring. Clients can now receive early payment under contracts from any region of the country without meeting in person. All operations under a factoring agreement are carried out on OZ PLANET through electronic document exchange, making online factoring fast, reliable and secure. This is fully in line with the bank's 2024–2026 strategy, whose key criteria for business banking are simplicity, accessibility and speed of service.

Alexander Bogdanov, CEO of OZ PLANET, comments: "Small companies often find it hard to get a bank loan without collateral and a specific intended use of funds. Factoring is available to companies of any size. The money a supplier receives from the factor is secured by the deferred-payment debt and can be used for any business needs. The money received from the factor is not debt and requires no report on its use. BRB Bank joining the digital factoring system will make contract financing more accessible to SMEs, allowing clients to receive early payment under contracts within hours and get money back into circulation to grow their business."

BRB Bank (Business Development Bank, Biznesni Rivojlantirish Banki) was established in September 2023 on the basis of the joint-stock commercial bank Qishloq Qurilish Banki. The bank specializes in financing small business projects and provides all types of retail banking services.
The bank has set up the Small Business Development Fund, which provides comprehensive services to small business owners in 14 regions. The fund helps companies attract investment, provides financing for business development, runs business training and offers advisory support.