At the initiative of the esteemed Head of State, within the framework of the “Digital Uzbekistan 2030” Strategy, large-scale measures are being implemented in the Republic of Uzbekistan to transform financial institutions and other sectors. These measures aim to expand the range of services provided to the population and define the key directions for digitalization and modernization of the national economy.
In order to fulfil the tasks set within the framework of the Strategy, Uzpromstroybank JSC, together with KPMG, has developed an IT strategy providing for customer- and product-oriented automation of key compliance processes, such as AML and KYC.
Uzpromstroybank is making a significant step in strengthening its compliance processes by implementing modern solutions for anti-money laundering (AML), customer due diligence (KYC), and countering the financing of terrorism (CFT). The integration of IMTF’s Siron® platform and the Creatio platform will enable the bank to efficiently detect suspicious transactions and manage customer information.
IMTF’s Siron® platform is a comprehensive financial crime compliance solution that combines advanced artificial intelligence technologies and rule-based detection to accurately and reliably identify suspicious activities. The platform ensures real-time transaction monitoring, sanctions list screening, and customer risk management, enhancing both the accuracy and efficiency of compliance operations.
The Creatio platform, with its capabilities for automating business processes without the need for programming, will allow bank specialists to consolidate and manage customer information while also automating compliance processes, including initial and regular customer due diligence procedures. Its intuitive interface and built-in AI tools provide flexibility and adaptability in managing customer data.
As part of the consistent development of its compliance system, the bank has initiated the transition to new technological solutions from global leaders IMTF and Creatio, based on no-code and artificial intelligence (AI) technologies.
The project was launched in September 2024 and is currently at its final stage, with integration processes ongoing. Project completion is scheduled by the end of the current year.
This decision is driven by a combination of factors:
• the need to comply with best international practices in the field of anti-money laundering (AML),
• the aspiration for deep digitalization of processes and minimization of human factor influence,
• the regulator’s active implementation of innovative technologies as part of digital transformation,
• as well as the bank’s internal commitment to a qualitative growth of the technological level in AML and compliance.
The implementation and configuration of the solutions are carried out by the Latvian company Confero Technologies, an authorized partner of IMTF and Creatio. The expertise and experience of Confero Technologies in compliance solutions will ensure the successful integration and adaptation of these new systems into the bank’s infrastructure.
About Uzpromstroybank. Uzpromstroybank is one of the leading banks in Uzbekistan, providing a wide range of financial services to individuals and businesses. The bank strives for continuous improvement of its services and the implementation of innovative solutions to meet customer needs.
About IMTF. IMTF is a global provider of advanced compliance and risk management solutions. Its flagship product, Siron®One, offers a comprehensive approach to combating financial crime through AI- and machine learning-powered technologies.
About Creatio. Creatio is a global provider of a no-code business process automation platform, integrating artificial intelligence capabilities to enhance business process efficiency. The platform enables financial institutions to quickly adapt to regulatory and market changes.
About Confero Technologies. Confero Technologies is a Latvian company specializing in the implementation and configuration of compliance and business process management solutions. As an authorized partner of IMTF and Creatio, the company possesses deep expertise in implementing advanced financial compliance technologies.