Strategic management of digital transformation of banking sector institutions

The article considers the main theoretical aspects of managing the digital transformation of banking institutions based on strategic management. The main approaches to defining the essence of the concept of "digital transformation" have been considered and generalized, the main aspects of this phenomenon have been indicated, such as innovation, radicality, revolutionaryness, the importance of the influence of digital technologies on obtaining both economic and social effects have been substantiated. The basic elements of digital transformation have been determined such as: improving operational activities; improving existing banking products; working with clients to maximize satisfaction of requests and needs; providing new opportunities for personnel to perform functions. The state of implementation of digital technologies by the economic sector has been analyzed. It has been noted that digital transformation is formed on new principles of relationships between business entities, between authorities and the population, organizations and consumers of goods and services, which are based on the use of such tools as cloud storage, the Internet of Things, digital platforms, blockchain technologies, etc. The features of digitalization of the banking sector have been analyzed. The main forms of digital transformation of financial institutions have been considered, such as the transformation of the client space, the transformation of business processes and the transformation of business models. The set of problems that banks face when implementing digital technologies has been determined. The essence of developing a corporate strategy for digitalization of a bank has been considered, the purpose of which is to create a high-quality digital product, implement end-to-end interaction with the client, develop a financial ecosystem of partners, remote interaction with the regulator, and use business incubators. The place of the corporate strategy for digitalization of a bank in the system of strategic management of digital transformation processes has been determined. It have been considered the main stages of developing a corporate strategy for digitalization of a bank.