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Employing cutting-edge technology in modern banking

With an audience of global representatives and industry experts, Asia Alliance Bank revealed its adoption of artificial intelligence at a conference in Tashkent, Uzbekistan.
Umid Khakimov, chief executive officer of JSCB "ASIA ALLIANCE BANK"

As part of their ongoing drive to grow its position in all major markets of banking services, Asia Alliance Bank recently participated in a conference entitled “Advanced practice-oriented technologies for elite engineering education” organised by Centre of Youth Education and Gor Investment Company ltd in Tashkent, Uzbekistan. 

The conference included a host of global professionals in the field, including the likes of former US secretary of energy Rick Perry, US under secretary of state for political affairs, Tom Shannon and the director of Massachusetts Institute of Technology (MIT) Jacqueline Karaaslanian, as well as representatives of Uzbekistan’s major companies and ministries including the minister of higher education Ibrohim Abdurakhmonov and the general director of the Center For Youth Initiatives Ornella Mkrtchyan. Together, they shared their experience in implementation of engineering technologies in Uzbekistan. 

Umid Khakimov, the chief executive officer Asia Alliance Bank shared his experience in implementing elite engineering technologies and presented successful innovative projects through the “Application of Explainable AI in Financing SME” theme.

The conference covered subjects such as the development strategy for New Uzbekistan envisages generating worthy responses to the world’s modern challenges related to dynamic progress in technology and innovation. 

Commercial banks in Uzbekistan are also striving to implement advanced data processing and analysis technologies. Digital banks rely on sophisticated algorithms and flexible strategies to attract and retain customers and it is encouraging to see the banking industry in Uzbekistan embracing technological advancements to better serve their customers.

As part of the conference, Umidjon Khakimov gave a speech on the application of explainable artificial intelligence in financing small and medium-sized enterprises. Within the framework of his speech, he discussed the bank’s ongoing activities towards innovation.

One such projects was the transition of Asia Alliance Bank to the new Temenos banking system, with advanced AI capabilities and machine learning. Since AI solutions will be transparent and easy to understand for end users, the bank will be able to approach customers individually and minimise risks.

Khakimov also presented unique database which allow the bank significantly speed up the processing of loan applications and provide more accurate credit scoring.

Asia Alliance Bank is one of the leading banks in Uzbekistan in the field of implementing data processing and AI and continues to develop using advanced technologies. As a result, the Asia Alliance Bank team is preparing plans to introduce new services to meet all sophisticated needs of its clients in the world of financial technology evolution.

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