MODERNIZATION OF BANKING ACTIVITIES IN THE DIGITAL ECONOMY

Digital technologies are being introduced in all spheres of society, not only increasing the efficiency of individual industries, but also creating independent types of economic activity This has been made possible by the emergence of the digital economy, based on the development of technological platforms, the use of mobile and electronic devices that generate fundamentally new organizational, technological, economic and financial relationships in the process of production, distribution, exchange and consumption of products and services within the functioning global market. One of the areas where digital technologies are most actively integrated into economic activity is the banking sector. This article studies the reasons for the large-scale digitalization of commercial banks. It is noted that digital technologies have become not only a tool to improve the efficiency of banks’ activities, but also a source for providing a new format of services and diversifying the activities of credit organizations, traditionally focused exclusively on financial intermediation. The purpose of the article is to investigate the issues related to the assessment of the causes of digital transformation of the banking industry and the analysis of fintech in its activities. The objectives of the study are to determine the role of digital technologies in the current stage of society development, to highlight the foundations for the information technologies in the banking industry, to specify the digital tools used in the banking sector. The methodological bases of the study are a systematic approach and such general scientific methods of cognition as analysis and synthesis, the method of contrast and comparison. The results obtained can serve as a prerequisite for further research on the causes and effects of the digital transformation of the banking industry, as well as have important practical significance for systematizing the digitalization tools of credit institutions, identifying the most prioritized ones for possible approbation.

digitalization, digital economy, digital technologies, banks, big data, artificial intelligence, cloud technologies, robotics, biometrics, distributed registry technologies

Mitrokhin V. V., Tarasenko A. S. Modernization of banking activities in the digital economy. Biznes. Obrazovanie. Pravo = Business. Education. Law. 2024;1(66):30—34. DOI: 10.25683/VOLBI.2024.66.865.