Development of a centralized information exchange and data management system in the banking sector of Uzbekistan

Abstract

The modernization of Uzbekistan's banking sector necessitates the development of a centralized information exchange and data management system to address challenges in efficiency, transparency, and regulatory compliance. This article explores the design and implementation of such a system, emphasizing its potential to streamline interbank transactions, enhance data security, and improve decision-making through real-time analytics. The research incorporates a detailed analysis of existing banking frameworks, evaluates global best practices, and proposes a scalable, secure architecture tailored to Uzbekistan's regulatory and technological landscape. The study highlights key benefits, including improved operational efficiency, reduced costs, and strengthened risk management, while also addressing implementation challenges such as technical integration and stakeholder collaboration. The findings underscore the strategic importance of centralized systems in fostering a robust, digitally enabled banking ecosystem in Uzbekistan.