MODERN ASPECTS OF DIGITAL TRANSFORMATION IN THE BANKING SECTOR

Today, digital transformation is a key lever for the development of the entire state economy, including financial institutions, including banks. In the face of ever-increasing competition, major players in the banking sector are striving to occupy key positions by providing a wide range of not only classic banking products, but also various digital services and unified ecosystems for business development. However, the introduction of modern digital financial technologies into the system of a bank or business requires not only significant financial investments, but also a modernized model for building all business processes both internally and externally. Therefore, building a strong competitive business model is an urgent issue in the digital transformation of the bank, since the effectiveness of this process fully affects the level of profitability.