29 Nov 2023

In 2017, CS took a strategic step to tailor its product offerings to the unique needs of the banking sector in the Republic of Uzbekistan. Recognizing the evolving demands of the regional market, the company bolstered its presence in the fall of 2023 by establishing its subsidiary, CS FINSOFT LLC, in Tashkent and becoming a resident of the IT Park of Uzbekistan.

This step is focused on enhancing service quality for Uzbek clients and broadening the scope of collaborative opportunities. According to Ulugbek Musabaev, the Director of CS FINSOFT, the company's recent acquisition of resident status in Uzbekistan's IT Park will enable a stronger foothold in the local market and the expansion of its team of professionals. This development positions the company to offer even more innovative and efficient digital solutions for the banking and financial sectors in the Republic of Uzbekistan.

Currently, the company's clientele includes leading financial service providers in Uzbekistan, such as JSCB Kapitalbank and UZUM Bank JSC. Additionally, another significant project involving the implementation of CS IT solutions in the country is underway.

Adapting Solutions for a New Market
 

For successful localization of its solutions in new markets, CS thoroughly researches the national nuances and legislative mandates.

The CS IT solutions utilized by the aforementioned banks have been tailored to align with the unique characteristics of the market and fully meet the regulations set forth by the Central Bank of Uzbekistan:

• СBS B2 generates mandatory statistical reports for the Central Bank.
• СBS B2 is integrated with all mandatory interfaces of the Central Bank (ANOR, SEP, Bankmail, etc.).
• Integration with national processing centers UZCARD and HUMO has been implemented.
• Interfaces were developed for effective work with the systems of state bodies: credit bureaus (ASOKI, SRCE, CRIF), collateral registry, NIBBD, state tax committee and other regulatory bodies.
• Interfaces with various payment systems (MUNIS, Payme, QR-online, money transfer systems) have been developed.
• The multilingual nature of the web client of СBS B2 – B2ng allows customizing the user interface in Uzbek language.

CS Company not only supplies IT solutions tailored to the specifics of the local market. We also conduct audits of the software products used by banks and provide extensive technical support for Oracle products. If required, we organize training for bank employees, as well as advise foreign developers on compliance with the legislation of the Republic of Uzbekistan.