Loialte and Uzbekistan’s FinTech Association to Work on Cybersecurity

During the Fintech & Banking 2024 forum on 3 October, Loialte and the FinTech Association of Uzbekistan joined forces by signing a memorandum of cooperation. The aim is to foster cybersecurity expertise in the banking and fintech industries of the republic.

‘We are committed to achieving both short-term results and building long-term partnerships. In this collaboration, we are prepared to engage experienced professionals and provide training for new talents, including young individuals,’ stated Bachana Shelia, Managing Partner of Loialte.

Nargis Dustmatova, Chairperson of the FinTech Association of Uzbekistan, stated that there will be a focus on training cybersecurity experts for the banking and fintech industries.

‘Loialte experts have extensive knowledge and experience in banking, including in Georgia, Uzbekistan, and other countries. This allows them to understand the specifics and regulatory requirements of the country,’ Dustmatova emphasised.

She also noted that this year, the focus will be on cybersecurity and operational risks for fintech companies. The memorandum will develop a detailed program covering commercial contracts, regions, and the number of participants.

Dustmatova concluded that the program will be launched as part of Fintech 360, a platform established by the FinTech Association. This initiative encompasses two key areas: fintech education and an e-commerce school offering complimentary educational courses.

Kursiv Uzbekistan reported that experts at the 2024 Fintech & Banking forum discussed banks’ challenges in digital transformation.