Ipoteka Bank expands clients' options with digital factoring on OZ PLANET
On 2 December 2024 Ipoteka Bank, the fifth-largest bank in Uzbekistan, signed an agreement with the OZ PLANET digital platform, giving Uzbek companies even more ways to get factoring financing remotely.
Ipoteka Bank's management decided to join OZ PLANET because it will significantly speed up application processing and reduce transaction costs. All stages of a factoring deal will now take place online, so the distance between participants no longer affects the speed of operations. Moving factoring financing to OZ PLANET will help the bank maintain high service quality, process more applications and meet "green standards" of doing business.
Alexander Bogdanov, director of the OZ PLANET platform, comments:
"Since the President of Uzbekistan adopted the Decree 'On measures for the accelerated development of the factoring services market', the digitalization of factoring has been gaining momentum.
OZ PLANET modernizes the factoring process and makes it convenient through the platform's innovative functionality, an easy-to-use interface, electronic document exchange with e-signatures and real-time information on deal progress.
On OZ PLANET, companies receive financing from banks across the country. Factors expand the geography of their client base and improve service quality."
Ipoteka Bank was formed in 2005 through the merger of two banks specializing in housing construction finance, and has specialized in mortgage lending ever since. It has been part of OTP Group since 2023. The bank provides a wide range of banking services to private and corporate clients.
Ipoteka Bank is rated "Stable" on liquidity by the international rating agency S&P Global Ratings.
The bank contributes to environmental protection by developing "green products", finances projects that optimize water use and actively pursues digitalization to maximize paperless operations.
The bank is open to innovation, aims to create conditions for the development of Uzbekistan's economy and strives to meet the highest standards of client service.
