Apex Bank partners with Profinch to launch innovative banking services in Uzbekistan

By Gloria Mathias

Apex Bank has announced its partnership with Profinch, a provider of banking technology solutions and consulting services, to launch a wide range of innovative banking products and services in Uzbekistan.

Apex Bank, part of the Apex Group of Companies, will soon announce its commercial launch, marking a significant milestone in Uzbekistan’s banking landscape. Backed by Apex Group’s reputation, Apex Bank aims to redefine banking standards in the region by offering comprehensive retail and corporate banking services.

Profinch has recently implemented a range of solutions, including:

• FLEXCUBE v14.6 Universal Core Banking System
• Oracle Banking Trade Finance
• Oracle Banking and Treasury Management
• Oracle Banking Payments (Serving both Domestic & International Swift Payments)
• Oracle Banking Branch,
• OBDx Corporate (Mobile & Internet)
• OFSAA FCCM

Furthermore, Profinch has facilitated the development & integration of a complete localization package to ensure full compliance with the local regulatory standards set by the Uzbekistan Central Bank.

Bakhrom Numonov, Chairman of the Board of Apex Bank, stated, “We have been elated by this partnership with Profinch; the team has been very professional and diligent in their efforts to ensure a smooth and timely go-live. With Profinch’s expertise and our commitment to excellence, we are confident in establishing Apex Bank as an innovative and credible financial institution in the country”.

Commenting on this achievement, Amrit Biswas, Sr. VP and Global Business Head, Profinch, shared, “We are proud to support Apex Bank in its mission to revolutionize the banking sector in Uzbekistan. This partnership underscores Profinch’s commitment to delivering world-class banking solutions and consulting services tailored to the unique needs of our clients across the globe. We wish Apex Bank all the very best and are looking forward to supporting them in achieving their long-term strategic objectives.”

Having launched the first live site for Profinch in Uzbekistan and many more to follow in the future, Apex Bank marks the beginning of a long-term collaboration between the two organizations.