scholarly journals DIGITAL PATH TO SUSTAINABILITY THE BANKING SECTOR OF BELARUS

2021 ◽  
pp. 82-91
Author(s):  
Natallia Maltsevich ◽  
Тatiana Рrokhorova ◽  
Elena Oshurkevich
Keyword(s):  
Sustainable Development ◽  
Banking Sector ◽  
Banking System ◽  
Digital Technologies ◽  
Scientific Work ◽  
Digital Economy ◽  
Digital Transformation ◽  
Structural Method ◽  
Banking Services ◽  
The Sustainable Development

Introduction. The article examines the functioning of digital technologies in the banking sector of the Republic of Belarus; the emphasis is on the development of remote banking services and the formation of a national model of secure payments. The necessity of introducing banking innovations in the digital economy to transform the format of banking services is substantiated and promising areas of digital transformation that contribute to the sustainable development of the banking system of Belarus are analysed. Methods. The methods of theoretical generalization and empirical methods were applied in the course of the research to determine the foundations for building approaches to the digital path of sustainable development of the banking sector at the present stage; the systemic and structural method was applied to highlight the current positions of the digital transformation of the banking sector and ways to increase its stability and efficiency. The task of this scientific work is to find relevant directions for the development of banking activities in the context of the introduction of inno-vations in the modern digital economy. Results. The key dominants of the introduction of banking innovations in the digital economy are evaluated, taking into account the directions of the formation of cross-channel banking infra-structure. The necessity of introducing banking innovations in the digital economy to transform the format of banking services aimed at ensuring sustainable development has been substantiated. Discussion. The need to implement and actively apply banking innovations in the digital econ-omy to transform the format of banking services in order to ensure sustainable development of the banking sector in Belarus. In the future, the sustainable development of the banking system in the direction of introducing innovations will ensure the competitiveness of banking products and services in comparison with neobanks and fintech projects, taking into account the substantiated directions for the development, regulation and implementation of banking innovations in the digital economy. Keywords: banking services, digital technologies, innovative trends in banks.

scholarly journals Digital transformation of the banking sector of Azerbaijan

2021 ◽  
Vol 16 (3) ◽  
pp. 10-20
Author(s):  
Z. F. Mamedov ◽  
E. N. Veliyev ◽  
E. N. Veisov
Keyword(s):  
Financial Market ◽  
Banking Sector ◽  
Digital Technologies ◽  
Digital Economy ◽  
Digital Transformation ◽  
Banking Services ◽  
Technological Processes

Currently, the effectiveness of banks’ activities and their competitiveness in the financial market largely depends on the introduction of the latest banking services and technological processes. This article examines trends in the digitalization of the banking sector in Azerbaijan. The main purpose of the article is to identify key prospects for the development of digital banking in Azerbaijan in the context of the digital economy. As a result of the study, the problems and prospects of using digital technologies in the banking sector were identified.

ISSUES OF DIGITALIZATION OF THE BANKING SYSTEM OF UZBEKISTAN

2021 ◽  
Vol 4 (2) ◽  
pp. 70-78
Author(s):  
Akmal Abduvokhidov ◽  
◽  
Erkinjon Buribayev ◽  
Doston Ishpulatov
Keyword(s):  
Sustainable Development ◽  
Rapid Development ◽  
Banking System ◽  
Digital Technologies ◽  
Digital Economy ◽  
Banking Services

Today, the rapid development of the digital economy is considered one of the most important conditions for sustainable development. The digital economy and digital technologies are also being intensively introduced into the banking system. Digitalization of banks will further improve the quality of banking services and eliminate various administrative barriers.

scholarly journals Digital transformation of the banking sector of the economy of Ukraine

2021 ◽  
Vol 2021 (3) ◽  
pp. 84-98
Author(s):  
Viktoriia KOVALENKO ◽  
Keyword(s):  
Information And Communication Technologies ◽  
Financial Services ◽  
Banking Sector ◽  
Banking System ◽  
Financial Education ◽  
Internet Banking ◽  
Digital Transformation ◽  
Banking Services ◽  
Banking Business ◽  
Self Service

The article considers the main digital transformational changes in the banking business. The current state of banks' use of financial digital technologies is analyzed, and the factors of digital transformation that affect their financially stable development are singled out. It is determined that the digitalization of the world economy over the past decade has posed new challenges to the banking system, which are caused by increased competition in the financial services market. The factors of emergence of financial intermediaries of the new generation and the need for digital transformation of contemporary banks are described. It is proved that the digital transformation of the banking sector of the economy is due to the development of financial technologies, digital marketing channels and innovation. Three main holistic proposals for FinTech development have been identified. The digital transformation of the banking business is changing not only the supply to customers. It is changing the contours of the business and staffing requirements. Such tools as ATMs and self-service terminals, telephone banking, SMS banking, Internet banking and mobile banking represent the evolution of customer access channels to banking services based on the use of information and communication technologies. The article considers the basic scheme of transformation of a classical bank into a dynamic system of a digital bank by gradually forming the directions of digital distribution. Further digital transformational changes in the banking business should be aimed at the vectors of financial education of consumers of banking services, regulation of the cryptocurrency market in Ukraine, definition of common standards of regulation and supervision of banks and non-banking institutions in the area of digital financial services.

Digital Transformation in Banks of Different Sizes

2021 ◽  
pp. 161-185
Author(s):  
Teresa Czerwińska ◽  
Adam Głogowski ◽  
Tomasz Gromek ◽  
Paweł Pisany
Keyword(s):  
Banking Sector ◽  
Returns To Scale ◽  
Banking System ◽  
Digital Technologies ◽  
Digital Transformation ◽  
Point Of View ◽  
Macroprudential Policy ◽  
Positive Feedback Loop ◽  
Technological Advances ◽  
The Cost

Technological advances in data transmission and processing are an important structural factor influencing the banking sector. As they have an important impact on the cost base of banks and are characterized by large one-off costs, it is argued that investments in digital technologies enhance the positive returns to scale in the banking system. This in turn further improves the competitive position of the largest market players, creating a positive feedback loop. In the longer run, this leads to a polarization of the banking sector, between large universal banks and small specialized banks. These processes are important from the point of view of macroprudential policy, notably in the dimension of reducing the risks connected with the emergence of “too big to fail” institutions. The chapter illustrates these issues using the results of a survey on the investments of banks in digital transformation in Poland, focusing on the relationships between market structure, financial position, and investments in digital technologies.

THE DIGITAL ECONOMY AS AN IMPORTANT CONDITION FOR THE SUSTAINABLE DEVELOPMENT OF THE NATIONAL ECONOMY

2020 ◽  
Vol 2 (3) ◽  
pp. 84-92
Author(s):  
Akmal Abduvohidov ◽  
◽  
Abubak Muxametov ◽  
Gayrat Berdiev ◽  
Bekzod Toshboev
Keyword(s):  
Sustainable Development ◽  
National Economy ◽  
Digital Technologies ◽  
Developed Countries ◽  
Digital Economy ◽  
Important Condition ◽  
The Sustainable Development ◽  
The World

This article is based on the study of the experience of developed countries of the world and justifies the role and importance of digital technologies and the digital economy in the sustainable development of the country

scholarly journals The Influence of the Digitalization of the Banking System on the Transformation of Cash and Money Circulation in the Russian Federation

2021 ◽  
pp. 55-68
Author(s):  
Yuri N. Bazhenov ◽  
Svetlana T. Rumiantceva
Keyword(s):  
Russian Federation ◽  
Banking Sector ◽  
Banking System ◽  
Financial System ◽  
Digital Technologies ◽  
Cash Flows ◽  
Digital Economy ◽  
Statistical System ◽  
The Russian Federation ◽  
The Impact

The purpose: to investigate the impact of digital technologies in the banking sector on the transformation of cash circulation in the Russian Federation.Methods: comparative-statistical, system, expert-analytical.Results: the reasons that determine the possibilities for expanding the use of non-cash payments are noted, the advantages of non-cash payments and QR payments are determined.Conclusions: the author substantiates the development and implementation of the digital economy and its impact on the control of cash flows of all counterparties of the financial system.

scholarly journals The Leading Digital Technology Companies and Their Approach to Sustainable Development

2021 ◽  
Vol 13 (12) ◽  
pp. 6612
Author(s):  
Peter Jones ◽  
Martin Wynn
Keyword(s):  
Sustainable Development ◽  
Circular Economy ◽  
Digital Technology ◽  
Digital Technologies ◽  
Digital Transformation ◽  
Qualitative Approach ◽  
Sustainable Future

The increasingly stellar attraction of the digital technologies and the growing, though not universal, consensus of the need to build a sustainable future, are two powerful trends within society. The aim of this article is to offer an exploratory review of how the leading companies within the digital transformation market have addressed sustainable development. As such, the article’s originality and value lie in offering a review of current corporate thinking within that market. The study adopts an inductive, qualitative approach based on an examination of published company reports, and identifies six major sustainability themes being actively promoted and supported. The article concludes that the current sustainability objectives of the technology companies are driven as much by commercial reality as any altruistic motives, and that support and promotion of the circular economy may offer the best opportunity for digital technologies to meaningfully impact sustainable development.

Risks of the Digitalization of Life of the Population and Ways of Decreasing Them

2021 ◽  
Vol 13 (4-1) ◽  
pp. 180-203
Author(s):  
Elena Stukalenko ◽  
Keyword(s):  
Quality Of Life ◽  
Digital Technologies ◽  
Well Being ◽  
Digital Economy ◽  
Digital Transformation ◽  
Negative Consequences ◽  
Short Period ◽  
The World ◽  
The Impact

Digital technologies, ubiquitous in our daily life, have radically changed the way we work, communicate, and consume in a short period of time. They affect all components of quality of life: well-being, work, health, education, social connections, environmental quality, the ability to participate and govern civil society, and so on. Digital transformation creates both opportunities and serious risks to the well-being of people. Researchers and statistical agencies around the world are facing a major challenge to develop new tools to analyze the impact of digital transformation on the well-being of the population. The risks are very diverse in nature and it is very difficult to identify the key factor. All researchers conclude that secure digital technologies significantly improve the lives of those who have the skills to use them and pose a serious risk of inequality for society, as they introduce a digital divide between those who have the skills to use them and those who do not. In the article, the author examines the risks created by digital technologies for some components of the quality of life (digital component of the quality of life), which are six main components: the digital quality of the population, providing the population with digital benefits, the labor market in the digital economy, the impact of digitalization on the social sphere, state electronic services for the population and the security of information activities. The study was carried out on the basis of the available statistical base and the results of research by scientists from different countries of the world. The risks of the digital economy cannot be ignored when pursuing state social policy. Attention is paid to government regulation aimed at reducing the negative consequences of digitalization through the prism of national, federal projects and other events.

The impact of financial and technological mergers and acquisitions on the world digital economy

2021 ◽  
Vol 14 (2) ◽  
pp. 174-189
Author(s):  
Natal'ya A. KHUTOROVA ◽  
Nikolai A. ROGASHKOV
Keyword(s):  
Global Economy ◽  
Banking Sector ◽  
Digital Economy ◽  
Digital Transformation ◽  
Payment Systems ◽  
Digital Inequality ◽  
Social Risks ◽  
High Volatility ◽  
Percent Contribution ◽  
The Impact

Subject. The COVID-19 pandemic brought IT companies to the leadership positions in terms of many aspects, as they contribute to a new reality and the development of digital economy. It also catalyzed the emergence of large ecosystems among financial institutions and technological giants. The M&A market mainly starts to shape global processes of the global economy digitalization, urging to scientifically comprehend the processes. Objectives. We conduct the critical analysis of the way the M&A market influences the digitalization of the global economy. Methods. Studying the M&A in the Fintech and Techfin segments, we applied methods of analysis, comparison and systematization of the information. Results. We revealed key trends in digital M&A deals, describe the impact and development of such processes in the Russian practice. Conclusions and Relevance. Every year M&A deals in the financial sectors and among IT corporations generates and raises over USD 250 billion in investment, thus making almost a 20-percent contribution to a growth in the digital economy. We found some understudies risks arising from digital M&A deals, such as deal planning risks synergy assessment risks, high volatility risks associated with prices for new companies, compliance risks, digital inequality risk and new social risks. Considering the Russian specifics and predominant positions of the banking sector, the digital transformation in Russia is noted to take place through the FinTech sector gaining momentum. To accelerate the digital constituent, it is reasonable to take the following efforts: introducing the digital Ruble as announced by the Bank of Russia, outlining a programs for supporting and encouraging national IT companies to develop non-banking payment systems and accelerate the digital transformation, connecting not only credit institutions, but also digital developers to the quick payment system of the Bank of Russia.

scholarly journals DIGITAL TRANSFORMATION OF THE RUSSIAN ECONOMY AND ALIGNMENT OF ECONOMIC INTERESTS

2021 ◽  
Vol 230 (4) ◽  
pp. 410-416
Author(s):  
N.V. RASSKAZOVA ◽  
Keyword(s):  
Economic Growth ◽  
Transaction Costs ◽  
Digital Technologies ◽  
Digital Economy ◽  
Digital Transformation ◽  
Production Costs ◽  
Economic Interests ◽  
Digital Platforms ◽  
Russian Economy ◽  
Reproduction Process

The problems of the digital economy development are central, since the introduction of digital technologies in the reproduction process provides for increased efficiency and reduced production costs. This fact encourages the development of digital platforms and mechanisms that allow to accelerate the process of interaction between different actors and reduce the transaction costs of coordinating economic interests at the micro and macro levels, which will eventually lead to economic growth. In this regard, the problem of digitalization of the Russian economy and its branches is relevant.

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