Assessment of the Penetration Level of FinTech, RegTech and SupTech Technologies in Uzbekistan's Financial System (Zenodo (CERN European Organization for Nuclear Research))

Summary

• FinTech penetration in Uzbekistan reached Level 3 (developed), whereas RegTech and SupTech remain at Level 2 (emerging).p.6
• Mobile application transaction volumes reached UZS 646 trillion in 2025, reflecting a 60% growth over the previous year.p.9
• The number of operating FinTech companies increased from 24 in 2018 to 103 by September 2025, attracting over USD 260 million in foreign investment.p.9
• Fraud prevention efforts in 2024 resulted in blocking UZS 9.5 billion in card fraud and stopping 28,138 online loan applications totaling UZS 304.1 billion.p.11
• Recorded cybercrimes expanded 68-fold from 863 cases in 2019 to 58,800 in 2024, with total stolen funds exceeding UZS 1.9 trillion.p.13

Key insights

1. FinTech adoption in Uzbekistan is developing considerably faster than RegTech and SupTech risk management capabilities.p.7
2. Formal financial account ownership in Uzbekistan rose from 44.1% in 2021 to 59.7% in 2025, remaining below the global average of 79%.p.10
3. Account ownership among women in Uzbekistan reached 60.7%, slightly surpassing account ownership among men at 58.5%.p.10
4. Remote verification via Face ID technology has been adopted by 28 of the 36 commercial banks in Uzbekistan.p.11
5. RegTech development in Uzbekistan is driven primarily by statutory regulatory mandates rather than market demand.p.11
6. SupTech implementation currently reflects second-generation capabilities with partially automated data collection and processing.p.11
7. Cybercrime accounted for 44.4% of total recorded crime in Uzbekistan in 2024, up from 6.2% in 2023.p.13