CONTEMPORARY TRENDS IN THE BANKING INDUSTRY THROUGH THE LENS OF DIGITAL TECHNOLOGY
CONTEMPORARY TRENDS IN THE BANKING INDUSTRY THROUGH THE LENS OF DIGITAL TECHNOLOGY

Summary/Abstract: In today’s dynamic business environment, the banking industry is undergoing an intense process of digital transformation, driven by the increasing influence of digital technologies, shifting customer expectations, and growing competition within the financial market. The demand for innovative and personalized services has never been greater. Consumers are testing and adopting new solutions offered not only by traditional banks, but also by fintech companies, technology firms, and other non-traditional market participants. In this context, it has become essential to reevaluate existing business models and implement innovations rapidly and at scale. To remain competitive and future-ready, banks must combine the speed and agility of fintech startups with the organizational and operational capabilities required to drive innovation and enable digital banking transformation on a large scale. This paper analyzes the innovations and contemporary trends shaping the future of the banking sector. It highlights the growing role of digital ecosystems, mobile and online banking, as well as the increasing use of social media and communication channels in the delivery of financial services. The study argues that digital technology not only improves the efficiency of banking processes but also transforms traditional business models, paving the way for the emergence of new forms of banking. The conclusion emphasizes that the banking sector holds significant potential to become a key driver of digital transformation within the national economy. Its further development will largely depend on the strategic decisions of financial institutions and the regulatory framework.

• Details
• Contents