DIGITAL TRANSFORMATION AS AN INDISPENSABLE ELEMENT IN MAINTAINING THE COMPETITIVENESS OF BANKS

Increasing the share of digital business is the key to survival for banks Digital technologies have radically transformed the banking business over the last 10 years. The paradigm of customer-bank interaction has changed, and digital channels (mobile banking, internet banking, etc.) have not only become the main means of customer-bank interaction for daily tasks, but also for processing complex products such as loans and mortgages. At the same time, the high cost of new technologies, as well as the risks associated with the lack of readiness of many economic entities for full-scale digital transformation, require a comprehensive vision and deep understanding of the digitalisation process when making managerial decisions, including in the financial sector.