Memorandum of cooperation with ASIA ALLIANCE BANK
Tashkent, Uzbekistan — OZ PLANET and ASIA ALLIANCE BANK have signed a Memorandum on expanding mutually beneficial cooperation aimed at developing banking products in online factoring in the Republic of Uzbekistan. The parties have committed to strengthening their partnership and developing long-term mutually beneficial projects.
Signing this document opens up new opportunities to develop digital financial services and make factoring more accessible to businesses.
As part of the cooperation, the companies plan:
- joint events to promote factoring in different regions of Uzbekistan;
- testing new financial products in a digital format;
- training programs for staff and entrepreneurs;
- improving the efficiency of customer service
and other projects.
The Memorandum is a logical continuation of ASIA ALLIANCE BANK's successful integration with the OZ PLANET digital platform in the third quarter of 2024, which took the bank's factoring financing to a new level and made the process as convenient and transparent as possible for clients. Digitalizing factoring through OZ PLANET allowed the bank to provide factoring without the client and counterparty having to visit the bank, without lengthy approvals, and through secure electronic document exchange. Getting factoring online has increased clients' interest in factoring as an effective tool for managing working capital.
"We are pleased to expand our cooperation with ASIA ALLIANCE BANK in developing digital financial services. Our joint efforts will allow us not only to develop existing factoring products but also to create new financial solutions that will help our clients' businesses grow and support the development of Uzbekistan's financial market," commented Alexander Bogdanov, CEO of OZ PLANET.
The expanded cooperation between OZ PLANET and ASIA ALLIANCE BANK is fully in line with the Central Bank's policy of developing factoring in the country and aims to improve the financial resilience of businesses in Uzbekistan and strengthen both companies' positions in the financial services market.
