InFinBank offers digital factoring on the OZ PLANET platform
On 9 October 2024 Invest Finance Bank, a private bank in Uzbekistan, joined the OZ PLANET digital financial platform. This increases the number of attractive financing offers on the platform and gives suppliers and contractors the chance to choose the terms that suit them best.
InFinBank is developing digital services to provide clients with the most convenient and accessible remote service. Joining OZ PLANET supports this course by creating a digital ecosystem where the bank interacts with buyers and suppliers to finance suppliers quickly. Factoring is available to companies in any industry that sell goods and services on deferred-payment terms. The bank's management sees factoring as an effective financial tool for supporting and developing small and medium-sized businesses and supports the President's program to popularize factoring nationwide.
Alexander Bogdanov, director of OZ PLANET, comments: "Interaction between the supplier, buyer and factor bank on the platform takes place in a 'single window'. This makes factoring financing faster and more accessible and allows payment under a contract within 24 hours. The bank significantly reduces document-related costs. The cost and time of reviewing an application fall by more than 70%. At the same time, decision-making is transparent thanks to the full history of communication and interaction with the client on our platform."
Invest Finance Bank (InFinBank) was founded in 2007. The bank provides a wide range of services to large corporate clients, small and medium-sized businesses and individuals. InFinBank is engaged in investment activities and pays special attention to fighting corruption.
In 2018 the bank adopted an active innovation-driven strategy. That same year InFinBank won gold at the annual SAP Quality Award in the Advanced Technologies category.
The bank shows steady development. In April 2024 Moody's Ratings upgraded InFinBank's credit rating to B1 with a Stable outlook.
