NEW HORIZONS OF DIGITAL TRANSFORMATION OF RETAIL BANKING
Abstract
The article is devoted to the study of the digital transformation of retail banking, which is an important element of the modern financial system. The main trends of digitalization are analyzed, key technological drivers are identified, and their impact on the efficiency of banks is studied. It is noted that the digitalization of retail banking involves the integration of digital technologies into all aspects of banking activities and covers digital infrastructure, information and analytical component, regulatory support, and security and data protection technologies. Particular attention is paid to the use of artificial intelligence, big data, cloud technologies, blockchain, mobile platforms, and integrated management systems. The issues of personalization of banking services and improvement of customer experience through the implementation of innovative solutions are also considered. Significant emphasis is placed on external factors that accelerate digital transformation, including the COVID-19 pandemic and the war in Ukraine. These processes have forced banks to more actively introduce remote banking and automated services and encouraged customers to deepen the use of digital technologies in financial transactions. The article discusses the benefits of digital technologies in the context of optimizing business processes, increasing the level of security of financial transactions, and improving analytical tools for predicting customer behavior. The author analyzes the current state of digital transformation of the Ukrainian banking sector and outlines the prospects for its development in view of global challenges. The importance of banks' adaptation to new technological realities in order to maintain competitiveness and effective functioning in the digital economy is emphasized. It is emphasized that the goal of the digital transformation of retail banking should be the personalization of services and the development of customer-oriented solutions based on digital technologies. The study has practical value for banking institutions seeking to implement effective digital strategies and expand the range of innovative services.
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