target audience: TECH SUPPLIER Publication date: Dec 2022 - Document type: Market Perspective - Doc Document number: # EUR249952322
Payment Platforms as a Foundation for Fintech Expansion in Uzbekistan
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Abstract
The 2022 war in Ukraine has triggered a surge in economic migration across eastern Europe and many of the countries bordering Russia. This has created new financial flows that represent a major opportunity for service providers positioned to take advantage of these developments. The example of Uzbekistan demonstrates that political changes followed by regulatory reform can rapidly change the market landscape, opening previously closed economies to fintech innovators.
"The economies of Central Asia have been net beneficiaries of the traumas created by geopolitical upheaval in 2022. The experience of Uzbekistan demonstrates that they are also ripe for a period of fintech disruption." — Vice President Robert Farish, IDC CIS