This marks the first service of its kind in Uzbekistan, offering businesses a paperless and efficient way to manage their banking needs. The new platform allows businesses to open accounts in minutes without requiring physical documentation. It uses automated processes for verification, streamlining onboarding.
Features include 24/7 payment services, templates for instant transactions, utility and government payment options, and tools for managing team accounts. The service aims to simplify everyday financial operations for businesses, eliminating the need for branch visits.
Uzbekistan is a growing market for digital financial services, with a population of 37 million, over half of whom are under 30. This demographic shift is driving demand for modern banking solutions. TBC Uzbekistan, already established as a leading digital bank in the region, is leveraging this opportunity to expand its offerings beyond individual consumers to SMEs.
Digital banking growing in Uzbekistan
TBC Uzbekistan is part of the London-listed TBC Bank Group and operates a digital banking ecosystem that includes TBC UZ, a mobile-only bank; Payme, a payment platform; and Payme Nasiya, an instalment credit service. The company has grown rapidly since its launch, reaching profitability within two years and serving 17 million users.
In the first nine months of 2024, TBC Uzbekistan reported a net profit of USD 27 million, alongside substantial growth in its loan and deposit portfolios. The introduction of TBC Business reflects the company’s ongoing efforts to develop new services and respond to the needs of a digitally active and entrepreneurial market.
In addition to launching TBC Business, the bank has recently introduced the Osmon Card, its first credit card. Designed to improve the consumer credit card experience, the Osmon Card features rapid approval, free issuance and delivery, a 55-day interest-free period, and competitive annual percentage rates and payment terms.
