TBC Uzbekistan, Central Asia’s leading digital financial ecosystem and part of London-listed TBC Bank Group, today announces its entry into the secured lending market through the launch of digital car loans.
Currently live to select customers in pilot mode, this product is the first step in scaling TBC Avto, a dedicated vertical for motorists combining a range of services that is set to transform the way people finance, purchase and own vehicles in Uzbekistan. The new car lending product reflects TBC Uzbekistan’s vision to take the hassle out of financial services and make people’s lives easier, enabling them to complete the purchase of a vehicle and drive it away within 24 hours. Customers begin by submitting an online application via the mobile app, receiving a preliminary response in just one minute. They then attend an official car dealership, where a TBC Uzbekistan representative will guide them through the process, complete any necessary paperwork and finalise the purchase.
Nika Kurdiani, CEO of TBC Uzbekistan, commented: “Since our entry into Uzbekistan six years ago, we’ve transformed how financial services work in the country, making people’s lives easier through quick, accessible digital products. With the launch of our new car lending product, we are continuing in the same manner, bringing our unique approach to the secured lending segment. The auto lending market remains largely untapped, and we see strong potential for growth as we scale our lending product and bring new products to market that enable us to build out a comprehensive offering for motorists.”
This launch marks TBC Uzbekistan’s entry into the high-growth secured lending segment, enabling it to drive more engagement within its ecosystem, diversify its revenue streams and make financial services simpler for its millions of customers in Uzbekistan. It also supports the ecosystem’s strategy to build Central Asia’s leading two-sided ecosystem for consumers and businesses. It further strengthens TBC Uzbekistan’s market-leading product offering, which includes the flagship TBC Salom debit card and TBC Osmon credit card, as well as its TBC Business offering, which provides banking, lending and retail management services for the country’s SMEs.
The digital banking ecosystem continues to push ahead with bringing new products and tech capabilities to market. In recent months, it has rolled out its AI Assistant Lola, which functions as a private banker in your pocket guiding users across the TBC Uzbekistan ecosystem. It is also developing a unified TBC Plus subscriptions services, which will give users access to a unique bundle of services across both its TBC UZ digital banking app and its market-leading payments app Payme.
Image provided by TBC Bank Group
