Digital modernization in the banking sector: prospects and problems

Abstract

At present, digital technologies are being intensively integrated into the functioning of financial and credit institutions, which contributes to the radical transformation of their business models.

The purpose of this article is to analyze the impact of digitalization on the development of the banking sector. The following tasks are performed: the advantages of the introduction of digital innovations by credit institutions are investigated, the key risks of digital modernization are highlighted, as well as the current issues of regulation of digital ecosystems.