Digitalization in the Banking Sector: International and Domestic Practices

• Main Authors: Andrushkiv Irina P., Nadiyevets Luidmila M.
• Format: Article
• Language: English
• Published: PH "INZHEK" 2018-12-01
• Series: Problemi Ekonomiki
• Subjects: digitalization; banking sector; cloud technologies
• Online Access: http://www.problecon.com/export_pdf/problems-of-economy-2018-4_0-pages-195_200.pdf

The aim of the article is to study the international and domestic practices of using digitalization in the banking sector. The experience of building an information society in Estonia is investigated. The reasons for the active digitalization in the banking sector of the Ukrainian economy over the past years are systematized. The role of digital banks and the chronology of their emergence in the global financial system are clarified. The possibilities of digital banking of the First Ukrainian International Bank are considered and the features of the new digital bank are described. The advantages of using cloud technologies in the banking sector are identified. The trends in the use of Internet banking services by domestic banks as of January 1, 2018 are analyzed. It is proved that key changes in activities of the banking sector under conditions of digitalization must be customer-oriented and ensure the effective development of the domestic banking sector, namely: forming a new quality of customer service; developing new products and improving existing ones; developing new channels for the provision of banking services and improving existing ones; digital-oriented training of personnel; carrying out process optimization.