Octobank
Octobank is a licensed Uzbekistan digital commercial bank serving 3.6M+ retail and SMB customers via its Octo-Mobile app, offering payment cards, lending, deposits, merchant acquiring, and — via its Alipay+/HUMO integration — cross-border QR payments in 50+ countries.
- Company typePrivate
- Founded2001
- HeadquartersPrague, Czechia
- Headcount101–250
- GTM typeB2C
- OfferingServices
What Octobank does
Octobank is a licensed Uzbekistan commercial bank headquartered in Tashkent (Furkat ko'chasi 2), operating under Central Bank of Uzbekistan license No. 70 dated June 23, 2001, with over 20 years of operating history and 3.6 million+ customers. The bank runs a digital-first retail and business banking franchise built around the Octo-Mobile mobile application and an internet banking platform (ibank.ravnaqbank.uz), supplemented by a domestic branch/ATM network. It is positioned as a "Best Digital Bank" (Global Banking & Finance Awards 2026) and the first Uzbek e-wallet integrated with Alipay+ (October 2025), giving it cross-border QR reach across China and 50+ countries.
The core product set spans international and domestic payment cards across Visa, Mastercard, Uzcard, and HUMO (physical, virtual, and non-resident variants); short-term credit (Microloan/Mikroqarz, Auto Credit 1.0 and 2.0); business financing (Octo-Invest, Octo-Aylanma in USD working capital, Octo-Avto, Factoring); merchant acquiring/Ekvayring and POS terminals; deposits in multiple currencies plus gold bullion sales; and international transfers including Visa Direct. Technology is anchored on Octo-Mobile, which integrates HUMO QR payments, Alipay+ for cross-border transactions, OlmaPay for local payments, and OneID plus MyID Palm for biometric onboarding and authentication. The 2021 acquisition of Earlybase (Uzbek fintech) added adjacent technology capability.
Revenue is generated from a diversified stream architecture: annual card fees and interchange on Visa/Mastercard/Uzcard/HUMO, transaction and FX fees on international transfers and merchant acquiring, recurring interest income on microloans, auto credit, business loans, and factoring, and float/fees on multi-currency deposits and gold bullion sales. Distribution is direct-to-consumer and direct-to-SMB via mobile/internet self-service, supplemented by physical branches and ATMs; outbound cross-border reach is delivered through the Alipay+/HUMO integration rather than correspondent branches.
Octobank firmographics
Firmographics- Name
- Octobank
- Legal name
- Octobank AJ
- Website
- https://octobank.com
- Company type
- Private
- Founded year
- 2001
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- Octobank is a licensed Uzbekistan digital commercial bank serving 3.6M+ retail and SMB customers via its Octo-Mobile app, offering payment cards, lending, deposits, merchant acquiring, and — via its Alipay+/HUMO integration — cross-border QR payments in 50+ countries.
- Ownership category
- akta.pro rank
Octobank industry classification
Industry- Product category
- Digital Banking
- NAICS
- Credit Card Issuing (522210), Savings Institutions and Other Depository Credit Intermediation (52218)
- SIC
- National Commercial Banks (6021), Miscellaneous Business Credit Institution (6159)
- akta.pro primary industry
- QR Code & Alternative In-Store Acceptance (QR, APMs) (FSAMADAH)
- akta.pro secondary industries
- Multi-Currency Accounts, Wallets & IBAN Services (FSAMAIAG), POS, SoftPOS & In-Person Acceptance Infrastructure (FSAGABAO)
Keywords
Where Octobank is headquartered
LocationHeadquarters
- HQ city
- Prague
- HQ country
- Czechia
- HQ region
- Europe
Offices1 record
Markets served
Octobank business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales, Others
Revenue model
- Card Services: Revenue from issuance and maintenance of Visa, Mastercard, Uzcard, and Humo payment cards including transaction fees and annual fees
- International Transfers: Fees from international wire transfers, Visa Direct services, and cross-border payment transactions
- Credit Products: Interest income from microloans, auto loans, and business credit facilities including Octo-Invest, Octo-Aylanma, Octo-Avto, and factoring services
- Merchant Acquiring: Ekvayring (acquiring) services for businesses including POS terminals and payment processing for e-commerce merchants
- Deposits: Deposit management services with currency exchange capabilities and gold bullion sales
- Business Banking Services: Services including salary projects, factoring, and corporate credit facilities for business customers
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Annual | Card products with multiple tiers |
| Unit Pricing | Monthly | Credit products |
| Transaction based/ take rate | Pay-as-you-go | Merchant acquiring services |
| Other | Pay-as-you-go | Online deposits and currency exchange |
Go-to-market motion1 record
Distribution channels4 records
Marketing channels3 records
Octobank product offering
Product offeringCore offering
Octobank is a digital-first commercial bank in Uzbekistan offering payment cards across multiple networks (Visa, Mastercard, Uzcard, HUMO), international and domestic money transfers, deposits, lending products (microloans, auto credits, business credits in local and foreign currency), merchant acquiring, POS terminals, factoring, and salary project services. It serves both individual consumers and businesses through a combination of physical branches, ATM/cardomat networks, the Octo-Mobile mobile application, and the iBank internet banking platform.
Product overview
Octobank is a comprehensive digital banking platform offering a unified ecosystem of financial services in Uzbekistan. The core mobile platform Octo-Mobile provides QR code payments, international payments via Alipay+, currency exchange, and cardless transactions, while Internet Banking (iBank) serves desktop users. The product portfolio spans payment cards (Visa, Mastercard, Uzcard, HUMO in multiple tiers including virtual variants), lending products (Microloan, Auto Credit 1.0/2.0, Octo-Invest, Octo-Aylanma, Octo-Avto, Factoring), deposit accounts, money transfers, and business services (Salary Project, Acquiring/Eqvayring, Payment Terminals, Remote Account Opening). The bank operates ATM networks and supports various identity verification systems including MyID Palm and OneID for remote onboarding.
Differentiator
Problem solved
Functional benefit
Brands
- Octo-Mobile: Mobile banking application for financial management
- Octo-Invest
- Octo-Aylanma
- Octo-Avto
- OlmaPay
Quantifiable outcome
- Ranked 2nd out of 5 banks in Uzbekistan for desktop internet banking with a score of 4.2/5.0
- +2 more outcomes
Companies that use Octobank
Customer profileSegments3 records
Ideal customer profiles2 records
Octobank technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration9 records
Feature4 records
Octobank partnerships and signals
Strategic signalPartnerships
Two partnerships are on record, tiered core.
- HUMO (Uzbekistan's National Payment System)coreOctobank's Octobile app became the first Uzbek e-wallet integrated with Alipay+ through a partnership with HUMO, Uzbekistan's national payment system. This integration enables HUMO users to make QR payments in Chinese yuan across China and over 50 countries, while Uzbek merchants can accept payments from Alipay+-connected wallets worldwide.
- Ant International (Alipay+)coreThrough the HUMO-Alipay+ partnership, Octobank's Octobile app enables cross-border QR payments by connecting Uzbekistan's national payment system with Alipay+'s global payment network covering over 50 countries. HUMO became the 10th national QR network to join Alipay+.
Scale indicators4 records
Recent moves6 records
Expansion highlights6 records
Octobank competitors and assessment
Company assessmentEmerging players
- Uzum: Uzbek fintech super-app ecosystem spanning payments, marketplace, and consumer credit. Comparable as a domestic Uzbek digital-first competitor combining payments, lending, and merchant services for consumers and SMBs.
- Paynet (Uzbekistan): Major Uzbek payment processor and fintech infrastructure provider enabling merchant payments, mobile wallets, and bill payments. Comparable as a domestic payment ecosystem player targeting merchants and consumers with QR and digital payment acceptance.
- Click (Uzbekistan): Leading Uzbek mobile payment platform and wallet widely used for P2P transfers and merchant QR payments. Comparable as a domestic payment/wallet competitor pursuing cross-border QR integrations in the same market.
Regional players
- Kapital Bank: One of Azerbaijan's largest universal banks with retail, SME, and acquiring products. Comparable as a regional CIS bank offering cards, transfers, deposits, and merchant acquiring with growing digital capabilities, though primarily serving Azerbaijan rather than Uzbekistan.
Direct peers
- Tinkoff (T-Bank): Russia's leading digital-only bank with mobile-first platform, multi-card issuance, merchant acquiring, and consumer/SMB lending. Comparable as a neobank with QR/payment integrations and a heavy focus on app-based acquisition and cross-sell, despite operating in a different jurisdiction.
- TBC Bank: Georgian digital bank operating across the Caucasus/Central Asia region with strong SMB and consumer digital banking, merchant acquiring, and lending. Comparable as a digitally-led commercial bank expanding payment and merchant services to retail and business clients in an emerging market.
- Kaspi.kz: Kazakhstan's leading super-app combining payments, marketplace, and fintech services with a proprietary merchant acquiring and digital banking platform. Highly comparable as a Central Asian digital-first bank/marketplace targeting consumers and SMBs with cards, payments, credit, and merchant acquiring.
Broad incumbents
- Asaka Bank: One of Uzbekistan's largest state-owned banks with extensive corporate and retail banking including cards and acquiring. Comparable as a domestic Uzbek incumbent competing in the same retail and SMB banking market with deeper balance-sheet resources.
- National Bank of Uzbekistan (NBU): Major Uzbek state-owned universal bank with broad retail, SME, and corporate banking products. Comparable as a domestic incumbent competing across cards, deposits, lending, and acquiring in the same regulatory and customer environment.
- Halyk Bank: Largest universal bank in Kazakhstan with extensive retail, SME, and merchant banking. Comparable as a Central Asian incumbent offering multi-card-network issuance, acquiring, lending, and digital channels to a similar customer base, though at much greater scale.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat5 records
Key risks5 records
Key highlights6 records
Customer concentration
Octobank social profiles
Digital presenceOctobank compliance and trust
Trust signalCompliance2 records
Octobank financial estimates
Financial estimateRevenue estimate
Valuation estimate
Octobank leadership team
Management profileNumber of profiles
Octobank funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Octobank M&A and investment
M&A and investmentM&A1 record
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Octobank
What does Octobank do?
Octobank is a digital-first commercial bank in Uzbekistan offering payment cards across multiple networks (Visa, Mastercard, Uzcard, HUMO), international and domestic money transfers, deposits, lending products (microloans, auto credits, business credits in local and foreign currency), merchant acquiring, POS terminals, factoring, and salary project services. It serves both individual consumers and businesses through a combination of physical branches, ATM/cardomat networks, the Octo-Mobile mobile application, and the iBank internet banking platform.
Is Octobank a public or private company?
Octobank is a private company. It is classified as unknown and is currently operating.
When was Octobank founded?
Octobank was founded in 2001. It employs 101 to 250 people.
Where is Octobank based?
Octobank is headquartered in Prague, Czechia, in the Europe region.
How does Octobank make money?
Six revenue lines are on record. Card Services are the primary driver. The others are international Transfers, credit Products, merchant Acquiring, deposits and business Banking Services.
Who are Octobank's main competitors?
Emerging players on record are Uzum, Paynet (Uzbekistan) and Click (Uzbekistan). Kapital Bank is listed as a regional player. Direct peers are Tinkoff (T-Bank), TBC Bank and Kaspi.kz. Broad incumbents are Asaka Bank, National Bank of Uzbekistan (NBU) and Halyk Bank.
Does Octobank have an API?
No public API is recorded for Octobank.
What industry is Octobank in?
Octobank's product category is Digital Banking. Its primary akta.pro industry code is FSAMADAH, QR Code & Alternative In-Store Acceptance (QR, APMs), with a secondary code of FSAMAIAG, Multi-Currency Accounts, Wallets & IBAN Services. Its NAICS code is 522210 and its SIC code is 6021.