FINANCIAL TECHNOLOGIES AS A DRIVER OF ALTERNATIVE FINANCING DEVELOPMENT AMIDST THE DIGITAL TRANSFORMATION OF UZBEKISTAN'S ECONOMY

This article examines the impact of financial technologies on the development of alternative finance amidst the digital transformation of the economy. It focuses on how digital platforms, data analytics technologies, electronic payments, and automated risk assessment systems are reshaping traditional methods of raising capital. Based on an analysis of academic literature and official data from the Republic of Uzbekistan for 2024–2026, the study demonstrates that the development of fintech infrastructure is gradually establishing a technological foundation for expanding alternative funding sources. Particular attention is paid to digital factoring as a prime example of the shift of financial services into a platform-based environment. The article also explores the prospects for applying similar technological solutions to crowdfunding, crowdlending, and other forms of platform-based finance. Consequently, key directions for establishing a digital ecosystem for alternative finance in Uzbekistan are identified, including regulatory improvements, digital infrastructure development, the implementation of intelligent risk assessment tools, and enhanced investor protection.