TBC Uzbekistan, billed as the leading digital banking ecosystem in Central Asia, has launched a high-tech in-house processing centre to streamline payment processing and accelerate the development of innovative financial products.

The processing centre will handle all TBC payment transactions, including P2P transfers, bank card payments and QR code-based payments. Moreover, it will allow the bank to leverage advanced data analytics to gain deeper insights into customer behaviour, enabling the rapid development of tailored products for retail clients and small and medium sized businesses (SMEs), TBC Uzbekistan said.

Nika Kurdiani, CEO of TBC Uzbekistan, said: "We continue to invest in our infrastructure, and the launch of our own processing centre is an important step towards realising our ambitious plans. Our own processing will allow us to speed up and scale the launch of innovative financial products in the promising and fast-growing market of Uzbekistan."

The new facility is also meant to provide the bank with the agility to quickly introduce popular global payment solutions, such as Apple Pay, Google Pay and PayPal as they enter the Uzbek market.

TBC Uzbekistan became profitable within two years of launch. It achieved a net profit of $16mn in the first half of 2024, with its loan and deposit portfolios growing 113% and 58% y/y, respectively.

The bank's growth is fuelled by its three fintech arms: the TBC UZ mobile bank, the Payme app for digital payments, and Payme Nasiya, a service allowing users to pay for purchases in instalments. 

The company says it is benefiting from the combination of low banking penetration in Uzbekistan, Central Asia's most populous country and second biggest economy, and a digitally savvy population eager for modern financial solutions.

TBC Uzbekistan has a BB- rating from Fitch Ratings, aligned with Uzbekistan's country rating, and a "stable" outlook.

In September, TBC Uzbekistan introduced a waiting list for TBC Business, the first fully digital banking service in the country designed specifically for SMEs and individual entrepreneurs.