Asakabank introduces online factoring based on the OZ Planet digital platform
On 30 September 2024 OZ Planet signed an agreement to connect one of Uzbekistan's largest banks, Asakabank JSC, to its online factoring system. The connection will allow companies in Uzbekistan to receive factoring financing from Asakabank in a 100% remote format.
Online factoring will be processed on the OZ Planet digital platform, where the full factoring deal cycle has been converted to an electronic format. All necessary actions are performed remotely from anywhere in the world, reducing the time to financing to as little as 2 hours.
Alexander Bogdanov, CEO of OZ Planet, comments: "We are glad that the platform is gaining such large and reliable partners. Factoring from Asakabank is now even more accessible — clients can receive financing in a convenient, fast and secure online format."
Asakabank JSC is one of the largest commercial banks in Uzbekistan. It was founded in 1995 to support the automotive industry and became a universal commercial bank in 2001. The bank has 22 branches and 7 mini-banks across the country, as well as two retail service centers in Tashkent. As of 1 January 2024 it was among Uzbekistan's top 5 banks by all key indicators — assets, capital, loans and deposits. Its clients represent many sectors of the economy: automotive, metalworking, mining, energy, construction, cotton processing and textiles, pharmaceuticals, printing, food, agriculture, transport and communications, trade and catering, services and more. Asakabank participates in foreign economic cooperation and in attracting foreign investment into Uzbekistan's economy, and has correspondent relationships with more than 380 leading foreign banks.
