Digital Platforms as a Foundation for the Development of Alternative Financing for Small and Medium-Sized Enterprises in Uzbekistan (Zenodo (CERN European Organization for Nuclear Research))

Summary

• In 2025, the total volume of factoring services in Uzbekistan reached 9.5 trillion soums.p.2
• Digital factoring platforms accounted for 46% of factoring transactions in 2025, amounting to approximately 4.4 trillion soums.p.2
• The share of factoring transactions executed via electronic platforms reached 53% in the first quarter of 2026.p.2
• A new regulatory framework for factoring companies was established in 2025, leading to eight factoring companies starting operations.p.2
• In March 2026, the Central Bank held discussions with commercial banks and fintech startups regarding AI solutions, digital factoring, and transaction data analysis.p.3

Key insights

1. Digital platforms reduce transaction costs and accelerate interactions by shifting intermediary functions away from traditional models.p.1
2. Digital factoring serves as a practical technological foundation for expanding into crowdlending and investment crowdfunding in Uzbekistan.p.2
3. Ozplanet and Finmakon emerged as the primary electronic platforms driving digital factoring in Uzbekistan.p.2
4. A digital alternative finance ecosystem requires four components: entrepreneurial, platform, analytical, and financial.p.3
5. Building investor trust in digital alternative finance requires strong legal requirements for information disclosure and digital identification.p.3