2 February 2023Asia Alliance Bank Uzbekistan has signed for Temenos Transact core banking system to enable future growth and digital transformation. Whilst reshaping the whole Bank’s business to prosper in the digital era, Asia Alliance Bank has started with technology renovation, and looking for the best of breed has selected Temenos. This agreement was achieved in close cooperation with the certified Temenos partner – Foranx.
Foranx will implement the solution for Asia Alliance Bank, delivered through its subsidiary Foranx East which was recently founded in Uzbekistan. Foranx East will be in charge of future sales, implementation and support of clients in Uzbekistan and neighboring countries.
CEO of Asia Alliance Bank, Umidjon Khakimov said:
"Asia Alliance Bank is now undergoing a fundamental renovation and total transformation into digital sphere to become one of the leaders in Uzbekistan and in the whole Central Asia. Functional, flexible and reliable core banking system is a cornerstone for digital transformation. We selected Temenos, the world leader in core banking, for its functional breadth, product building flexibility and platform openness".
Managing Director - Europe, Temenos, Juan Cejudo said:
"We are proud that Asia Alliance Bank has chosen Temenos to modernize its core banking technology. Our open platform and rich packaged functionality will help the bank create new opportunities and drive efficiencies at scale. Temenos has a global presence with growing experience and expertise in the Central Asia region. Asia Alliance Bank is our first client in Uzbekistan, and we look forward to working with the bank to power its future growth".
Managing Director of Foranx, Sergey Nosan said:
"We are very excited to gain our first client in such a dynamic growing economy like Uzbekistan. We are even more excited for this client to be Asia Alliance Bank, renowned for its ambitious plans in digital transformation. We are committed to making this project a success with the best product in its class – Temenos Transact and the best team in the market - from the Bank, we are confident that this project will create a benchmark for others".
Asia Alliance Bank
Asia Alliance Bank was established in 2009 in Tashkent. Since then it has moved up the ranks based on its market share for SME. Few banks in Central Asia have managed to build as strong and progressive reputation in such a short period as Asia Alliance Bank.
Today, the Bank has 34 branches over the country, more than 415 000 clients, assets size is about USD 550 mln. and capital above USD 50 mln. It is “B2” rated by Moody’s with Stable Outlook.
The Bank also serves as connector for those overseas investors who want to tap Uzbekistan’s development. It has strong relationship with ADB, World Bank, ICD, BNY Mellon, Commerzbank, LBBW, UniCredit, RBI AG, Kookmin Bank, Aktif Bank and Agricultural Bank of China.
The Banker, Global Finance, Euromoney and Asiamoney several times awarded Asia Alliance Bank as the Best Bank in Uzbekistan.
Foranx is a privately owned company founded in 2007 with its expertise in the area of financial institutions automation and consulting, providing development, implementation and support services with a team of more than 60 highly qualified specialists.
For more than 15 years Foranx have been helping banks and financial institutions around the Globe to implement best business practices, increase efficiency and improve the quality of services by using innovative technology.
Foranx LLC is the official certified sales and implementation partner of Temenos (Switzerland), one of the world’s leading suppliers of automated banking systems Temenos Transact.