DIGITAL BANKING: IS IT POSSIBLE TO OPEN A DIGITAL BANK IN UZBEKISTAN
DOI:
https://doi.org/10.5281/zenodo.17446664Keywords:
Digital Banking, Fintech, Institutional Agility, Middle-Aged Consumers, Financial Inclusion, Banking Reform, Cybersecurity, Regulatory InnovationAbstract
This study investigates the feasibility of launching a fully digital bank in Uzbekistan amid a national push for
financial modernisation and increasing demand for accessible, tech-enabled financial services. Using a qualitativedescriptive
approach, the research analyses performance indicators from Uzbekistan’s banking sector, benchmarks
against successful digital banks in peer economies, and evaluates policy reforms, demographic trends, and institutional
agility. Findings reveal a widening gap between traditional banks and digital-native institutions, with the latter demonstrating
superior profitability, scalability, and customer engagement. Uzbekistan’s favourable demographic structure, characterised
by a large working-age and middle-aged population, and regulatory openness indicate strong potential for digital banking
development. However, the study also highlights challenges around cybersecurity, infrastructure, and digital trust. The
paper concludes with policy recommendations and strategic insights for regulators, investors, and entrepreneurs seeking
to capitalise on Uzbekistan’s evolving financial landscape.
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