Agrobank Uzbekistan Introduces AI And Digital Tools For Credit Risk Assessment (Exclusive)

(MENAFN- Trend News Agency) TASHKENT, Uzbekistan, September 1. Agrobank is developing digital tools for lending, agricultural financing and internal controls, including the use of artificial intelligence and data analytics.

Agrobank Internal Auditor Shahob Eddin Masharipov told Trend 's special correspondent this on the sidelines of the Silk Road Finance & Technology Forum in Tashkent.

According to him, one of the bank's digitalization efforts is the development of solutions for the agricultural sector, including the AgroZamin platform, which brings together a range of services for farmers and producers.

He noted that digitalization allows the bank to integrate its processes with government information systems and automate certain operations related to agricultural financing.

"Agro-Fintech ecosystem, business process automation - scoring and AI - and the development of IT infrastructure and security are the three main areas," Masharipov said.

The bank is also focusing on automating credit risk assessment. According to the Agrobank representative, machine-learning algorithms are used to analyze data when assessing retail customers and small businesses.

"We use AI-based scoring powered by Big Data to assess risks for retail customers and small businesses, using transaction activity, telecom data and tax reporting," he said.

Masharipov added that automating the lending process helps reduce the time required to review certain applications.

"The credit processing system can reduce the decision-making time for microloans to several minutes through automated data verification without the involvement of a credit officer," he said.

According to him, digital tools are also being used for remote banking services. Agrobank is developing mobile services for individuals and digital solutions for businesses, including online identification, virtual cards, P2P transfers and selected services for entrepreneurs.

At the same time, the expansion of digital services is accompanied by stronger internal controls and information security measures.

"The growth of digital services requires the development of internal control systems," Masharipov said.

He said the bank is developing information security monitoring systems and tools for automatically detecting suspicious transactions.

Another area is the digitalization of internal audit. According to Masharipov, the use of analytical tools is allowing the bank to move from periodic inspections toward continuous data monitoring.

"We are moving to processing large volumes of data through analytical dashboards, which allows us to identify deviations and risks at branches before on-site inspections are conducted," he concluded.

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