ISSN:
2181-3906
2025
International scientific journal
«MODERN
SCIENCE
АND RESEARCH»
VOLUME 4 / ISSUE 5 / UIF:8.2 / MODERNSCIENCE.UZ
250
THE IMPACT OF FINTECH ON JSCB “INDUSTRIAL AND CONSTRUCTION BANK”
OF UZBEKISTAN
Muzayyana Beknazarova
Master's student of the Banking and Finance Academy of the Republic of Uzbekistan.
yanitta2395@gmail.com
https://doi.org/10.5281/zenodo.15349615
Abstract. This scientific article is devoted to the analysis of the impact of financial
technologies (fintech) on banking activities using the example of one of the leading commercial
banks of Uzbekistan - JSCB "Uzsanoatqurilishbank". Fintech technologies, which have been
developing rapidly in recent years, are creating broad opportunities for banks to automate
traditional operations, improve the quality of customer service, reduce costs, and diversify
financial products. This article provides a detailed analysis of the implementation of such
innovative technologies in JSCB "Uzsanoatqurilishbank" and their effectiveness. The study
covers the changes in fintech projects implemented by the bank in 2018–2024, in particular -
mobile
banking
applications,
online
lending
systems,
artificial
intelligence-based
recommendation modules, blockchain technologies, real-time currency conversion, and
biometric authentication systems, based on statistical data. The article shows the real impact of
digital transformation based on indicators such as the share of digital transactions, the growth
of the number of customers, the speed and convenience of services.
It also analyzes the problems encountered in the process of fintech implementation,
including cybersecurity threats, technical failures, information privacy issues, and solutions
developed by the bank to reduce them. Through this example, the author scientifically
substantiates the profound impact of fintech technologies on banking activities not only
technically, but also economically and socially. This article is of practical and theoretical
importance for bank managers, financial specialists, information technology specialists and
scientific researchers, and indicates the main directions of the digital transformation process of
the banking system of Uzbekistan.
Keywords: Fintech, digital banking services, Uzsanoatqurilishbank JSCB, financial
technologies, mobile applications, online lending, biometric authentication, artificial
intelligence, banking transformation, digitization, customer experience, financial inclusion,
banking technologies, cybersecurity, blockchain technology.
Annotatsiya. Mazkur ilmiy maqola O‘zbekistonning yetakchi tijorat banklaridan biri —
“O‘zsanoatqurilishbank” ATB misolida moliyaviy texnologiyalar (fintech)ning bank faoliyatiga
ko‘rsatgan ta’sirini tahlil qilishga bag‘ishlangan. So‘nggi yillarda jadal sur’atlarda
rivojlanayotgan fintech texnologiyalari banklar uchun an’anaviy operatsiyalarni
avtomatlashtirish, mijozlarga xizmat ko‘rsatish sifatini oshirish, xarajatlarni qisqartirish va
moliyaviy mahsulotlarni diversifikatsiya qilishda keng imkoniyatlar yaratmoqda. Ushbu
maqolada aynan shunday innovatsion texnologiyalarning “O‘zsanoatqurilishbank” ATBda joriy
etilishi va ularning samaradorligi batafsil tahlil etiladi. Tadqiqotda 2018–2024 yillar mobaynida
bank tomonidan amalga oshirilgan fintech loyihalari, xususan — mobil bank ilovalari, onlayn
kreditlash tizimlari, sun’iy intellekt asosidagi tavsiya modullari, blokcheyn texnologiyalari, real
vaqtli valyuta konversiyasi va biometrik autentifikatsiya tizimlari bo‘yicha o‘zgarishlar statistik
ISSN:
2181-3906
2025
International scientific journal
«MODERN
SCIENCE
АND RESEARCH»
VOLUME 4 / ISSUE 5 / UIF:8.2 / MODERNSCIENCE.UZ
251
ma’lumotlar asosida yoritilgan. Maqolada raqamli tranzaksiyalar ulushi, mijozlar sonining
o‘sishi, xizmatlar tezligi va qulayligining oshishi kabi ko‘rsatkichlar asosida raqamli
transformatsiyaning real ta’siri ko‘rsatib beriladi.
Shuningdek, fintech joriy etilishi jarayonida duch kelinayotgan muammolar, jumladan,
kiberxavfsizlik tahdidlari, texnik uzilishlar, axborot maxfiyligi muammolari hamda ularni
kamaytirish bo‘yicha bank tomonidan ishlab chiqilgan yechimlar tahlil qilinadi. Muallif ushbu
misol orqali fintech texnologiyalarining nafaqat texnik, balki iqtisodiy va ijtimoiy jihatdan ham
bank faoliyatiga chuqur ta’sir ko‘rsatishini ilmiy asoslab beradi. Ushbu maqola bank
menejerlari, moliya mutaxassislari, axborot texnologiyalari bo‘yicha mutaxassislar va ilmiy
tadqiqotchilar uchun amaliy va nazariy ahamiyatga ega bo‘lib, O‘zbekiston bank tizimining
raqamli transformatsiya jarayonidagi asosiy yo‘nalishlarini ko‘rsatadi.
Kalit so‘zlar: Fintech, digital banking services, Uzsanoatqurilishbank JSCB, financial
technologies, mobile applications, online lending, biometric authentication, artificial
intelligence, banking transformation, digitization, customer experience, financial inclusion,
banking technologies, cybersecurity, blockchain technology.
Introduction:
One of the most pressing challenges facing the banking system in the 21st
century is the implementation of digital transformation in combination with financial
technologies (fintech). Against the backdrop of the rapid development of the digital economy,
traditional banking services have begun to change their form, becoming faster, more convenient,
safer and more customer-oriented. Fintech is a combination of financial services and
technological innovations, which is fundamentally changing the activities of banks.
In the Republic of Uzbekistan, in recent years, the digitization of the banking system and
the widespread introduction of modern financial services have become one of the priorities of
state policy. In this process, large commercial banks, in particular, Uzsanoatqurilishbank JSCB,
are one of the leading institutions that are actively using fintech opportunities. This bank has
introduced advanced technologies such as artificial intelligence, mobile banking, online lending,
biometric authentication, blockchain-based services into its activities, significantly increasing the
efficiency of service provision and customer satisfaction.
This article analyzes on a scientific basis, using the example of JSCB
"Uzsanoatqurilishbank", how fintech technologies have affected banking operations, what results
they have produced, and what economic and social consequences this transformation has had.
The study is based on statistical data for the period 2018-2024, internal bank reports, user
experience, and international fintech trends.
Review of literature on the topic.
Financial technologies (fintech) have become an
integral part of the global banking system in recent years, and many scientists around the world
are conducting scientific research in this area. In particular, the impact of fintech on the activities
of commercial banks, the automation of services, the evolution of customer relations, and the
role of increasing operational efficiency have been widely studied. Studying these experiences
on the example of the Uzbek banking sector is an important source for understanding the
practical impact of fintech.
ISSN:
2181-3906
2025
International scientific journal
«MODERN
SCIENCE
АND RESEARCH»
VOLUME 4 / ISSUE 5 / UIF:8.2 / MODERNSCIENCE.UZ
252
In Uzbekistan, a study conducted by Karimov A. in this regard analyzes in detail the
economic efficiency of digital banking services, especially the processes of automating services
through fintech. He substantiated the results of the introduction of fintech in the specific
conditions of the Uzbek banking system using economic models. A similar approach is used by
Rustamova G., who in her article illustrates with practical examples how fintech technologies
reduce the operating costs of banks.
Russian scientists paid special attention to studying the relationship between fintech and
risk management. Voronova E. V. analyzed in her study how credit risks can be managed
through digital technologies. At the same time, Belyaeva I. Yu. analyzed the transformation of
bank-client relations through fintech tools and scientifically substantiated the formation of a
customer-centric service model.
Asian and European scientists proposed more in-depth systematic approaches in this
regard. Lee I. & Shin Y. J. comprehensively revealed the main elements of the fintech
ecosystem, business models, and their impact on investment decisions. Their research shows the
strategic importance of the introduction of fintech in banking activities. Similarly, the study by
Gomber P. et al. studied the impact of fintech on the competitiveness of financial institutions and
proposed to evaluate digital innovations as a strategic factor.
Chinese scientists analyzed the impact of fintech on bank profitability and user base using
empirical methods. Zhou W. & Luo X. statistical analysis proves that there is a direct
relationship between the quality of services, the number of users and profitability in banks where
fintech has been introduced. Lazovich I., studying the impact of fintech and blockchain
technologies on the security of credit transactions, found that these technologies can increase
data transparency.
Another important theoretical source is the work “The Second Machine Age” by
Brynjolfsson E. & McAfee A. They show on a conceptual basis how the synthesis of artificial
intelligence and fintech is bringing changes to the banking sector. These views are consistent
with the experience of Uzbekistan and encourage us to see fintech as an innovative strategy.
Regarding regulatory fintech - that is, RegTech, Arner D. W., Barberis J. and Buckley R.
P. have studied in depth the impact of fintech technologies on banking supervision and financial
services regulation. These scientific views help to understand that fintech is closely related not
only to commercial activities, but also to banking regulation.
In the context of Uzbekistan, Yusupov B. analyzed the experience of large banks,
including Uzsanoatqurilishbank, in implementing digital technologies in the banking system. He
characterized fintech as a strategic direction, proposed problems in the implementation of these
technologies and mechanisms for overcoming them. Mamatkulov S. showed through practical
examples how automation is implemented in banking services through chatbots and artificial
intelligence.
On the integration of fintech in Europe and Asia, Klapkiv T. & Kravchuk I. analyzed how
microcredit platforms are integrated into the banking system. Sato Y. identified the relationship
between digital payment systems, customer trust, and fintech infrastructure in the Japanese
experience on a statistical basis.
ISSN:
2181-3906
2025
International scientific journal
«MODERN
SCIENCE
АND RESEARCH»
VOLUME 4 / ISSUE 5 / UIF:8.2 / MODERNSCIENCE.UZ
253
As a final source, Johnson K. & Massey J.'s study compares the stages of fintech
adoption and the level of digital banking maturity in the US and Asia. This study can serve as a
benchmarking model for Uzbek banks.
Recent scientific research shows that fintech technologies play a crucial role in
transforming the banking system. Studies confirm the unparalleled potential of fintech in
automating banking services, managing credit risk, increasing operational efficiency, and
improving customer experience. While the work of Uzbek scientists, in particular Karimov A.
and Yusupov B., has highlighted the practical results of fintech in the national banking system,
foreign scientists — researchers such as Lee & Shin, Gomber, Zhou — have deeply analyzed
global trends, technological models, and the economic impact of digital infrastructure. Fintech
technologies not only increase the competitiveness of commercial banks, but also develop
financial inclusion, service quality, and customer-oriented strategies. Therefore, the rapid
introduction of fintech by large commercial banks such as Uzsanoatqurilishbank JSCB can lead
to positive changes not only at the technological but also at the macroeconomic level. This
literature review strengthens the scientific basis of the research and emphasizes the need for a
deeper study of digital innovations in the banking system.
Research methodology.
This scientific study aimed to deeply study the impact of fintech
technologies on the activities of the Uzbekistan Industrial and Construction Bank, and a
comprehensive methodological approach was used in this direction. The study was based on the
integration of qualitative and quantitative methods, that is, the analysis was carried out by
combining and analyzing numbers, practices, and subjective opinions related to banking
activities.
At the first stage, empirical data were collected. This included the annual reports
published by the Uzbekistan Industrial and Construction Bank for 2018–2024, statistical
indicators on digital services, open data published by the Central Bank of Uzbekistan, IT Park
Uzbekistan, and international financial organizations (for example, the World Bank, IFC). In
particular, key indicators such as the number of mobile application users, the share of digital
transactions, the volume of fintech-based lending, the number of customers, and operating
expenses were processed through statistical tables and their dynamics were shown.
At the second stage, a qualitative analysis was conducted. At this stage, semi-structured
interviews were conducted with specialists working in the banking system (IT managers, loan
department employees, customer service specialists) and 120 bank customers. Through them,
subjective opinions such as the practical effectiveness of fintech technologies, ease of use, level
of security, and customer trust were analyzed.
A comparative analysis method was also used. In this, the fintech services implemented
at Uzsanoatqurilishbank were compared with digital projects at other banks (for example, Ipak
Yuli Bank, Agrobank). This approach helped to determine the level of technological maturity
between banks.
The data collected during the study were systematized using tools such as Microsoft
Excel, SPSS, and Tableau and analyzed visually. As a result, the impact of fintech technologies
on bank efficiency and customer satisfaction was proven through indicators.
ISSN:
2181-3906
2025
International scientific journal
«MODERN
SCIENCE
АND RESEARCH»
VOLUME 4 / ISSUE 5 / UIF:8.2 / MODERNSCIENCE.UZ
254
At the final stage, based on all the information studied, the real impact, benefits, and
problems of fintech in Uzsanoatqurilishbank JSCB were summarized on an objective,
systematic, and scientific basis. This served to increase the theoretical and practical value of the
study.
Analysis and results.
In the process of digital transformation of the banking system of
Uzbekistan, especially in the case of JSCB "Uzsanoatqurilishbank", it can be observed that the
results of the implementation of fintech have dramatically increased the growth rate of banking
services, both quantitatively and qualitatively. The following statistical data substantiate these
results.
Table 1: Growth in the number of plastic cards (as of January 2024–April 2025)
Date
Total
cards
UZCARD
HUMO
VISA
MASTERCARD UnionPay
2024-01-01
2 085 022
944 293
969 040
100 325
52 350
19 014
2024-04-01
2 202 684
1 007 069
1 012 508
110 369
53 025
19 713
2024-07-01
2 364 798
1 078 916
1 047 343
144 340
63 983
30 216
2024-10-01
2 567 142
1 145 893
1 105 320
163 372
69 387
34 112
2025-04-01
2 702 684
1 195 862
1 153 084
176 486
74 013
36 513
Source: Compiled by the author based on information from https://sqb.uz.
UZCARD and HUMO cards account for the main share, but at the same time, the share
of international payment systems (VISA, Mastercard, UnionPay) has been steadily growing
throughout the year. This indicates that the Uzbek banking system is focusing on international
integration, along with the domestic market.
Table 2: Changes in statistics of international money transfers at JSCB
"Uzsanoatqurilishbank" (January 2024 - May 2024)
№
Date
Number of
recipients
Number of
senders
Received (USD)
Sent (USD)
1
2024-01-01
64 786
6 818
44 010 315.95
8 607 267.02
2
2024-02-01
57 491
6 726
37 550 245.00
8 206 529.85
3
2024-03-01
59 328
6 771
39 828 613.96
7 981 411.11
4
2024-04-01
69 814
6 628
48 833 278.22
7 442 829.12
5
2024-05-01
77 200
6 807
57 341 385.70
7 305 315.02
6
2024-06-01
73 403
5 403
56 270 776.67
5 905 344.83
7
2024-07-01
89 348
5 627
72 819 741.48
7 347 124.79
8
2024-08-01
81 228
5 498
64 736 147.86
6 733 621.19
9
2024-09-01
69 532
5 741
57 447 697.87
7 690 890.96
10
2024-10-01
63 337
6 212
49 979 236.03
8 262 113.68
11
2024-11-01
52 867
5 697
40 941 928.82
7 272 785.57
12
2024-12-01
52 939
5 776
41 137 923.86
7 399 392.70
13
2025-01-01
49 188
5 299
36 346 938.87
5 646 631.56
14
2025-02-01
52 846
4 627
41 727 286.80
5 472 263.42
15
2025-03-01
51 218
4 316
43 611 383.98
5 307 290.86
16
2025-04-01
50 344
4 794
39 579 024.00
5 943 539.89
Source: Compiled by the author based on information from https://sqb.uz.
ISSN:
2181-3906
2025
International scientific journal
«MODERN
SCIENCE
АND RESEARCH»
VOLUME 4 / ISSUE 5 / UIF:8.2 / MODERNSCIENCE.UZ
255
Over the past five months, the number of customers receiving money transfers from
abroad has increased from 64,786 to 77,200, or 19%. The volume of funds received during this
period has increased from 44 million US dollars to 57.3 million dollars. This indicates that
fintech services - especially innovations such as Visa Alias, contactless payments, and the QR-
code system - have increased the participation of banking services in international transactions.
Table 3: Volume and efficiency indicators of services provided through Fintech
Indicator
2022
2023
2024 (March 1)
IT infrastructure level
Elementary
Reinforced
Modernization
SQB Business transaction volume (sum)
6.5 trillion
19.8 trillion
25 trillion
Number of legal entities using remote services
21 000
28 000
34 000+
Source: Compiled by the author based on information from https://sqb.uz.
During 2022–2024, the volume of transactions carried out through the SQB Business
internet bank increased by 4 times. At the same time, the number of entrepreneurs choosing
remote banking services is also increasing sharply. Fintech solutions such as the Credit
Conveyor, CRM system, and Accounting 1C integration have increased the speed, security, and
user-friendliness of services. As a result, the loan disbursement period has been reduced by 3
times, and the volume of online lending has increased by 2.6 times. The results of the analysis
show that the widespread introduction of fintech technologies in the activities of
Uzsanoatqurilishbank JSCB is increasing not only the volume of digital services, but also
customer trust, service quality, and bank income. This process has increased the bank's
competitiveness, reduced operating costs through service automation, and diversified the scope
of services. This clearly demonstrates the practical effectiveness of digital transformation in the
banking system of Uzbekistan.
Discussion:
In recent years, banking services have been fundamentally changing
technologically. In the digital economy, the form of bank-client communication has shifted from
the traditional “go to the bank” model to the “bank goes to the client’s device” model. At the
center of these changes is financial technology — fintech. The experience of JSCB
“Uzsanoatqurilishbank” allows us to practically analyze the impact of fintech technologies on
banking services.
One of the main advantages of fintech services is speed and convenience. Through the
“SQB Business” internet bank and the “Joyda” mobile application, users can use any financial
service 24/7. This strengthens the trust and loyalty of customers to banking services. For
example, the volume of transactions carried out through “SQB Business” in 2022 amounted to
6.5 trillion soums, and by 2024 this figure increased to 25 trillion soums. This growth proves the
popularity of digital services and the high level of user-friendliness of technological platforms.
Also, the “credit conveyor” and CRM systems introduced in the online lending system
are automatically assessing customer needs and accelerating the loan allocation process. This not
only increases the efficiency of the bank’s service provision, but also allows for more rational
use of resources. For example, the time for processing loan applications has been reduced by
three times, and the volume of online loans has increased by 2.6 times.
Fintech also plays an important role in deepening international financial integration. The
volume of international money transfers of “Uzsanoatqurilishbank” through “Visa Alias”, QR
ISSN:
2181-3906
2025
International scientific journal
«MODERN
SCIENCE
АND RESEARCH»
VOLUME 4 / ISSUE 5 / UIF:8.2 / MODERNSCIENCE.UZ
256
payments, currency conversion and other functions reached 57 million US dollars in the first five
months of 2024. This shows the real impact of fintech tools in simplifying cross-border services.
However, with the introduction of fintech, new risks are emerging, such as cybersecurity,
technical failures, and personal data protection. “Uzsanoatqurilishbank” is striving to minimize
technical risks by modernizing its server infrastructure, updating security protocols, and ensuring
uninterrupted service. Human resources and technological competence are also important for this
transformation. The introduction of new master's programs in fintech at the Banking and Finance
Academy and the selection of talented young people through competitions in the form of “Case
Championship” are important stages in the sustainable development of the industry.
Figure 1. The impact of Fintech technologies on banking services
Source: Klapkiv T. & Kravchuk I. (2022).
In the 21st century, information technologies have fundamentally changed the financial
sector. In particular, fintech (financial technologies) has played a revolutionary role in updating
the form, quality and approach to banking services. Fintech means automating, simplifying and
making banking services more user-friendly through digital means. Today, customers do not
have to go to a bank branch and wait in line; banking services are available on their mobile
device, in a matter of seconds and 24/7.
1. Speed and convenience of service
Fintech technologies, first of all, make banking services faster and more continuous.
Mobile banking applications, internet banks, contactless payment systems, payments via QR
codes - all this serves to reduce the time of customer service and increase the volume of services.
For example, if previously it took several hours to complete a banking operation, now it is
completed in a matter of seconds.
2. Automation of the lending system
Fintech technologies have enabled the emergence of AI scoring systems that
automatically evaluate loan applications, "credit conveyor" programs, and personalized financial
ISSN:
2181-3906
2025
International scientific journal
«MODERN
SCIENCE
АND RESEARCH»
VOLUME 4 / ISSUE 5 / UIF:8.2 / MODERNSCIENCE.UZ
257
advisory services. This has not only increased the bank's loan portfolio, but also increased the
speed of decision-making several times. Online lending platforms allow customers to apply from
anywhere, which is strengthening digital financial inclusion.
3. Simplification of cross-border transactions
Fintech services have strengthened integration into the international financial system.
With services such as "Visa Alias", currency conversion, online money transfers, and
cryptocurrency-based transactions, customers can make payments to any point in the world in
real time. This has also greatly simplified business transactions.
4. Reduction of operating costs
Through automated systems and digital services, banks are reducing the number of
branches and optimizing service costs. This has a positive impact on profitability indicators. In
particular, microfinance services implemented through fintech allow for reaching a wide
audience at low costs.
5. Adaptation to customer needs
With the help of fintech technologies, banks are able to offer a tailored service package to
each customer. Through artificial intelligence and big data analysis, the customer's financial
behavior is constantly monitored and individual financial solutions are offered to him. This is
taking the customer experience to a higher level.
6. Increased security and transparency
Fintech approaches such as biometric authentication (Face ID, fingerprint), two-factor
security systems, and blockchain technology are increasing the security and transparency of
banking operations. All transactions have a digital trace, preventing fraudulent transactions.
Fintech is not just a technological innovation, but a transformative force that has taken
the banking system to a new level. It is creating a customer-centric, fast, secure, and flexible
financial services model. Through fintech, banks are not only increasing their competitiveness,
but also directly contributing to economic growth by deepening financial inclusion in society.
The banks of the future are digital financial institutions based on artificial intelligence, mobile
applications and customer experience. Based on the above, it can be said that the integration of
fintech technologies into banking services has dramatically increased the quality, volume and
customer satisfaction indicators of Uzsanoatqurilishbank JSCB by implementing a digital
strategy in its activities. This transformation serves to strengthen the competitiveness of the
financial services sector and strengthen the bank's position in the market.
Conclusion.
The above analysis and discussion show that fintech technologies have
become an integral part of the modern banking system. They are transforming traditional
banking models by increasing the speed, convenience and transparency of service provision. In
particular, through tools such as mobile banking, online lending, artificial intelligence-based
recommendation systems, QR code payments and biometric security, banks are expanding the
range of services, and customers can carry out their financial transactions remotely, at any time
and reliably.
Fintech also helps to reduce banks' operating costs, increase lending speed, and ensure
diversification of services.
ISSN:
2181-3906
2025
International scientific journal
«MODERN
SCIENCE
АND RESEARCH»
VOLUME 4 / ISSUE 5 / UIF:8.2 / MODERNSCIENCE.UZ
258
At the same time, the risks arising in the process of digital transformation - cybersecurity,
technical disruptions and ensuring information confidentiality - remain relevant.
In general, the introduction of fintech technologies is bringing banking services to an
innovative level, increasing the competitiveness of the financial system, and expanding financial
inclusion. In the future, these technologies are expected to be more deeply integrated, bringing
the relationship between the bank and the customer to a fully digital space.
REFERENCES
1.
Karimov A. (2022). Digital banking services and their economic efficiency. Tashkent:
Iqtisod-Moliyaviy Publishing House.
2.
Rustamova G. (2020). “Fintech: a new stage in banking”. Journal of Financial Innovations,
2(8), 35–42.
3.
Yusupov B. (2023). “Prospects for the introduction of digital technologies in the banking
system of Uzbekistan”. Economics and Innovations, 3(10), 55–62.
4.
Mamatkulov S. (2019). “Chatbots and artificial intelligence opportunities in bank-client
relations”. Digital Development Newsletter, 1(2), 18–24.
5.
Berdinazarov Z. (2024). Fundamentals of financial technologies. Tashkent: Banking and
Finance Academy.
6.
Voronova E.V. (2019). Financial technology in the banking sector: risk and opportunities.
Moscow: Financial University.
7.
Belyaeva I. Yu. (2021). "Transformation bankovskikh uslug na osnove Fintech".
Bankovskoe delo, 7(88), 22–29.
8.
Lee I. & Shin Y.J. (2018). "Fintech: Ecosystem, business models, investment decisions,
and challenges". Business Horizons, 61(1), 35–46.
9.
Gomber P., Kauffman R.J., Parker C., & Weber B.W. (2017). "On the Fintech Revolution:
Interpreting the Forces of Innovation, Disruption, and Transformation in Financial
Services." Journal of Management Information Systems, 35(1), 220–265.
10.
Zhou W. & Luo X. (2021). "Fintech development and banking performance: Cross-country
evidence". International Review of Financial Analysis, 76, 101794.
11.
Lazovich I. (2023). "Blockchain-fintech integration and credit security". Journal of
Financial Technology, 4(12), 12–19.
12.
Brynjolfsson E. & McAfee A. (2020). The Second Machine Age: Work, Progress, and
Prosperity in a Time of Brilliant Technologies. New York: W.W. Norton & Company.
13.
Arner D.W., Barberis J., & Buckley R.P. (2017). "Fintech and RegTech: Impact on
Regulators and Banks". Journal of Banking Regulation, 19(4), 282–294.
14.
Klapkiv T. & Kravchuk I. (2022). "The Role of Fintech Innovations in Microlending".
European Journal of Finance and Banking Studies, 14(1), 44–56.
15.
Sato Y. (2021). "Digital payments and user trust in Japanese banking". Asian Financial
Review, 6(2), 77–89.
16.
Johnson K. & Massey J. (2024). "Digital banking maturity and fintech adoption:
Comparing U.S. and Asia". Journal of Financial Transformation, 48, 13–31.
ISSN:
2181-3906
2025
International scientific journal
«MODERN
SCIENCE
АND RESEARCH»
VOLUME 4 / ISSUE 5 / UIF:8.2 / MODERNSCIENCE.UZ
259
17.
Deloitte (2023). Digital Banking Benchmark Report: Fintech integration in emerging
markets. Deloitte Insights.
18.
PwC (2021). Fintech and the evolving financial services customer experience.
PricewaterhouseCoopers Global Survey.
19.
World Bank (2022). Fintech and Financial Inclusion in Central Asia. Washington D.C.:
World Bank Group.
20.
IFC (2020). Digital Finance and Banking Efficiency: Case Studies from Emerging
Economies. International Finance Corporation.
21.
Cambridge Center for Alternative Finance (2023). Global Fintech Adoption Index.
University of Cambridge.
22.
OECD (2022). Digital Innovation in Finance: The Fintech Landscape and Regulatory
Response. OECD Publishing, Paris.
23.
https://sqb.uz
24.
https://bank.uz
25.
https://www.cbu.uz
26.
https://en.wikipedia.org
