USE OF INFORMATION TECHNOLOGIES IN THE DEVELOPMENT OF INNOVATIVE ACTIVITIES OF COMMERCIAL BANKS

2021 ◽  
Vol 4 (3) ◽  
pp. 22-31
Author(s):  
Jamshid Kiryigitov ◽  
Keyword(s):  
Commercial Banks ◽  
Information Technologies ◽  
Banking System ◽  
Digital Technologies ◽  
Developed Countries ◽  
Current Situation ◽  
Innovative Development ◽  
Urgent Task ◽  
Effective Use ◽  
Positive Results

In this article shown the activities and experience of commercial banks of developed countries are studied and prospects of using information technologies in the development of innovative activities in the system of our national commercial banks. At the same time, opinions were expressedabout the possibility of achieving positive results using digital technologies on the basis of developmentof innovative activities of banks of Uzbekistan. Proceeding from this urgent task, the article developed proposals and conclusions on the coverage of the importance of innovative development of banking activities, theoretical views of our homeland and foreign scientists on this and the analysis of the current situation on innovative development of the banking system, as well as on the wide use of information technologies in the innovative development of banks. The opportunities are highlighted for innovative development of the banking system with the effective use of digital technologies

IMPROVING THE EFFICIENCY OF USING INFORMATION AND COMMUNICATION TECHNOLOGIES IN THE BANKING SYSTEM

2021 ◽  
Vol 4 (4) ◽  
pp. 41-46
Author(s):  
Ra’no Parpieva ◽  
◽  
Nafisa Norboyeva ◽  
Adiba Turayeva
Keyword(s):  
Information And Communication Technologies ◽  
Information Technologies ◽  
Banking Sector ◽  
Banking System ◽  
Modern Society ◽  
Communication Technologies ◽  
Payment Systems ◽  
Information And Communication ◽  
Effective Use ◽  
The Impact

This article will serve to select the system required for the effective use of information and communication technologies in the banking system and the impact of national payment systems in the banking sector on modern society, the effective use of new modern information technologies in the system.Study of foreign experience to select information and communication technologies that should be used in modern banks with information and communication technologies in the banking system, which have been used before.

Problems Of Increasing The Efficiency Of Bank Credits To Ensure Macroeconomic Sustainability

2021 ◽  
Vol 03 (05) ◽  
pp. 200-207
Author(s):  
Zafarjon Yashinovich Rakhmanov ◽  
◽  
Fakhritdin Mannonovich Daminov ◽  
Umidjon Bakhtiyorovich Abulkhaev ◽  
◽  
...  
Keyword(s):  
Commercial Banks ◽  
Banking System ◽  
Current Situation ◽  
Systemic Risks ◽  
Main Factors ◽  
Macroeconomic Stability

One of the main factors in ensuring the macroeconomic stability of the country in the post-pandemic period is to increase the efficiency of loans provided by commercial banks. This article examines the issues of improving the efficiency of loans provided by commercial banks in ensuring macroeconomic stability of the country in the event of a pandemic. In addition, through the analysis of the current situation in the banking system, systemic risks were identified and proposals and recommendations were developed to improve the efficiency of credit operations.

Non-banking financial intermediation and phenomena of shadow money in modern economy

2021 ◽  
Vol 27 (8) ◽  
pp. 1694-1709
Author(s):  
Vladimir K. BURLACHKOV
Keyword(s):  
Commercial Banks ◽  
Financial Intermediation ◽  
Banking System ◽  
Banking Regulation ◽  
Developed Countries ◽  
Bank Credit ◽  
Shadow Banking ◽  
Economic Agents ◽  
Shadow Banking System ◽  
Lending Activity

Subject. The article addresses the non-banking financial intermediation (shadow banking system) as it is successfully expanding nowadays both in developed countries and emerging economics. Objectives. The study aims at conducting a comprehensive analysis of the specifics of non-banking financial intermediation, revealing its impact on economic agents’ activities, causes and consequences, and elaborating the methodological framework for effectiveness of modern monetary policy. Methods. I employ methods of scientific abstraction, induction, deduction, synthesis, and comparative analysis. Results. In the modern national economy, along with the money, created by the central bank and commercial banks, there are highly liquid financial instruments called shadow money. The scope of its application is shadow banking (financial intermediation) outside the banking system. The use of shadow money is caused by high demand for credit resources. Conclusions. The high activity of shadow banking and increased turnover of shadow money resulted from a transfer to Basel standards of banking regulation in the 1990s, which affected the lending activity of commercial banks. Under these conditions, the demand for loans provided by non-bank credit and financial institutions increased. The market of non-bank credit products was formed. However, the process of lending in the shadow banking is associated with high risks and non-stability of shadow money, widely used in this sphere.

scholarly journals Peculiarities of ensuring financial sustainability of the Ukrainian banking system

2018 ◽  
Vol 13 (1) ◽  
pp. 184-195
Author(s):  
Olha Vovchak ◽  
Viktoriia Rudevska ◽  
Roksolana Holub
Keyword(s):  
Commercial Banks ◽  
Financial Stability ◽  
Banking System ◽  
Developed Countries ◽  
Equity Capital ◽  
Capital Adequacy ◽  
Financial Sustainability ◽  
Bank Capital ◽  
Strategic Objective ◽  
Capital Ratios

Ensuring and strengthening the financial sustainability of banks is a difficult and not completely resolved task. It is inherent not only to developed countries, it has also be¬come nationally important in Ukraine, which was largely predetermined by the specifics of the domestic banks development. This is explained, in particular, by the banking insti¬tutions’ focus mainly on the relatively short-term activity, the need to work under high risk, resulting from economic and political instability in the country. Therefore, nowa¬days, it is urgent for each Ukrainian bank to focus on the main strategic objective – effec¬tive management and ensuring financial sustainability. The purpose of this study is to assess the current state and identify the features of ensuring financial sustainability of the banking system of Ukraine.It was pointed out in the study that the negative tendency to increase the number of in¬solvent commercial banks during 2012–2017 indicates problems with providing finan¬cial sustainability to commercial banks. The tendencies have been revealed that testify to the problems of the banking system capitalization in Ukraine, which greatly affects its financial stability. Given the analysis of indicators of banks financial sustainability that characterize the bank capital adequacy, the conclusion is made on ambiguous as¬sessment of sufficient level of capitalization, since despite the correspondence of most values of coefficients to the indicators, there is a lack of capitalization of the domestic banking system and equity capital concentration. In general, the results made it pos¬sible to identify trends in the development of capital ratios and financial sustainability indicators and to shape appropriate measures to increase the level of capitalization in order to ensure the financial sustainability of the banking system.

Conceptual provisions of management percentage risk in international practice

2021 ◽  
pp. 205-218
Author(s):  
Valentin Yur’evich Vakhrushev ◽  
Andrey Viktorovich Zakharov ◽  
Mikail Bekzadaevich Khudzhatov
Keyword(s):  
Russian Federation ◽  
Commercial Banks ◽  
Banking System ◽  
Developed Countries ◽  
Central Banks ◽  
Interest Rate Risk ◽  
Global Banking ◽  
The World ◽  
The Face ◽  
The Russian Federation

In the face of the COVID-19 pandemic world banking system is being severely tested. The last time such shocks occurred during the global fi nancial crisis of 2008–2009. However, the crisis of the global banking system in 2020 caused by the COVID-19 pandemic is very diff erent from the global fi nancial crisis of 2008–2009. During the previous global fi nancial crisis, central banks around the world were able to cut key rates to stimulate the aff ected economy, while the current crisis is taking place in conditions of extremely low and even negative key rates. Consequently, the central banks of the economically developed countries of the world lack one of the most eff ective tools to stimulate the economy in the face of a global crisis. Since the maximum income of commercial banks is generated by the operation of high key rates, the downward trend in recent years is a serious risk to the business of commercial banks. The article analyses the dynamics of key rates in the economically developed countries of the world in comparison with China and the Russian Federation, based on the results of this document, the main trends and patterns were identified, the most dangerous risks for commercial banks are shown. Besides the article discusses the modern conceptual provisions of interest rate risk management in commercial banks of the Russian Federation. They form the basis for the development of constructive methods for assessing commercial risk and the formation of managerial decisions that ensure its prevention or reduction of negative consequences in the event of the implementation of risk events that determine it.

Development of the Insurance Market in Ukraine in the Context of Transformation Changes

2021 ◽  
Vol 26 (1) ◽  
pp. 185-189
Author(s):  
Nataliia Shyshpanova ◽  
◽  
Olena Bodnar ◽  
Keyword(s):  
Information Technologies ◽  
New Technologies ◽  
Digital Technologies ◽  
Developed Countries ◽  
Insurance Market ◽  
Insurance Companies ◽  
Change Models ◽  
Innovative Technologies ◽  
The Developed Countries ◽  
The Individual

Abstract. The article substantiates the feasibility of ensuring the development of the insurance market in Ukraine in the context of digital transformations. It has been determined that the latest digital technologies are penetrating deeper into the global insurance market, without bypassing any area of activity, but the volume of the insurance market in Ukraine is several times less than in the developed countries of the world. The indicated factors which restrain the development of the insurance market in Ukraine and characterized existing problems of the insurance market lead to low confidence in the companies of the sector and do not allow it to develop properly. It has been established that in modern conditions of digital transformations, insurance companies widely use innovative technologies that ensure the achievement of both short-term effects and long-term competitive advantages. The directions of digitalization of the insurance market in Ukraine have been characterized and it has been substantiated that the processes of digital transformation based on the development of information technologies of insurance companies contribute to increasing competitiveness. In order to improve the situation in the domestic insurance market and maintain competitive positions, insurance companies should actively use European and world experience, introduce and change models of insurance functioning, and intensively introduce innovative technologies in insurance activities. The use of new technologies and management models in practice will increase the efficiency of the provision of insurance services, require insurance companies to develop new insurance products, taking into account the individual wishes of customers, and will also contribute to expanding the scope of using insurance as a method of risk transfer in an integrated risk management system, as well as will ensure the creation of a unique competitive advantage for those insurance companies that are able to introduce innovative digital technologies in accordance with the individualized requests of customers

scholarly journals Opportunities For Effective Use Of Digital Banking Services In The Effective Management Of Financial Resources Of Commercial Banks In A Pandemic

2021 ◽  
Vol 3 (06) ◽  
pp. 163-169
Author(s):  
Uygun Ortikov ◽  
Keyword(s):  
Mobile Applications ◽  
Commercial Banks ◽  
Banking System ◽  
Business Owners ◽  
Financial Resources ◽  
Effective Management ◽  
Banking Services ◽  
Rational Management ◽  
Effective Use ◽  
Modern Services

This article discusses the introduction of new banking services in the management of financial resources of commercial banks, the effective use of digital bookkeeping services, the rational management of bank resources in a pandemic and modern services. Also, in this article discusses how the COVID-19 pandemic is impacting the digital transformation, how many business owners and organizations are trying to further enhance digital technologies during the pandemic, not only in business, but also on their national government portals. Further intensification of transformations was highlighted and analyzed with statistical data. In addition, the pandemic affects many sectors of the economy, especially the growing demand for online banking services in the banking system and various transactions from mobile applications of banks, the fact that commercial banks offer customers a variety of digital banking services are shown on the basis of data.

scholarly journals Central bank digital currencies: experience of pilot projects and conclusions for the NBU

2020 ◽  
Vol 2020 (4) ◽  
pp. 97-115
Author(s):  
Yuliia Shapoval ◽  
◽  
Keyword(s):  
Central Bank ◽  
Interest Rates ◽  
Financial Institutions ◽  
Commercial Banks ◽  
Financial Stability ◽  
Banking System ◽  
Developed Countries ◽  
The Bahamas ◽  
Bank Of England ◽  
The Impact

An overview of the definitions of central bank digital currency (CBDC), formulated by researchers of the International Monetary Fund (IMF), the Bank for International Settlements (BIS), the Bank of England, is presented, and the essence of the CBDC is revealed. It is stated that the existing electronic money is a digital form of obligations of financial intermediaries, and CBDC is a form of emission and obligations of central banks. The types and forms of CBDC are generalized, namely: retail or wholesale, account-based or token-based ones. The structure and functionality of the register, payment authentication, access to infrastructure, and governance are defined as factors taken into account during CBDC designing. Similar models of launching national CBDC by the Bank of England (economy-wide access or financial institutions access, and financial institutions plus CBDC backed narrow bank access) and BIS (direct, indirect, hybrid) are under consideration. The synthetic CBDCs are marked as a theoretical concept of CBDC. The overview of projects of the People's Bank of China – "e-renminbi", the Central Bank of the Uruguay – "e-peso", the Central Bank of the Bahamas – "sand dollar" and the Eastern Caribbean Central Bank affirm the interest of developing countries in launching national retail CBDCs. It was found that apart from the Riksbank with the successful "e-krona" project, most of the monetary authorities of developed countries (BIS, Bank of Japan, Bank of Canada, Deutsche Bank, FRS) are just planning or starting to experiment with the issuance of digital securities, which demonstrates their concern about the restructuring of the banking system and the changes of global role of traditional currencies. Among the positive consequences of the introduction of CBDC for the domestic banking system are the emergence of an alternative payment instrument, the implementation of effective monetary policy through increased influence on interest rates, and regulation of the legal regime of crypto currencies. At the same time, the introduction of CBDC involves certain changes in financial intermediation (replacement of the deposits of commercial banks with the CBDC, the performance of functions inherent to commercial banks by the central bank or fintech companies), and will require powerful technical capabilities, including those related to protection from cyber risks. The results of the study point to the need for a cautious approach to the implementation of the Ukrainian CBDC only after the NBU assesses the public demand for new forms of money and the impact of the launch of CBDC models on price and financial stability, and compares available payment technologies that can achieve the same goals as the CBDC.

scholarly journals COMPLEX EVALUATION OF THE USE OF INFORMATION TECHNOLOGIES IN THE COUNTRIES OF EASTERN AND CENTRAL EUROPE

2004 ◽  
Vol 5 (4) ◽  
pp. 183-191 ◽  
Author(s):  
Romualdas Ginevičius ◽  
Valentinas Podvezko
Keyword(s):  
Information Technologies ◽  
Multiple Criteria Decision Making ◽  
New Economy ◽  
Developed Countries ◽  
Weighted Sum ◽  
Institutional Conditions ◽  
Complex Evaluation ◽  
Effective Use ◽  
The Impact

"New economy” is a specific economic phenomenon emerging when two processes including globalization and technological revolution are taking place simultaneously. A question arises what economic and institutional conditions in the states under transition would allow them to take the best advantage of the potential of “new economy”. These conditions determine if a particular state is capable of accelerating its pace of long‐term economic development and approaching the level achieved by highly‐developed countries. In this context, the problem of evaluating the readiness of the states under transition to take advantage of “new economy” acquires great theoretical and practical value. To measure the above parameter, a so‐called indicator of new economy (NEI) based on ten variables characterizing the development and effective use of “new economy” has been recently offered. The INE indicator is a weighted sum of all ten variables for each state. It may also be calculated as a non‐weighted sum of all the related criteria. It may be assumed (based on the expertise) that the impact of any particular variable (criterion) on the general indicator of “new economy” varies to some extent, therefore, multiple criteria decision‐making methods should be used for complex evaluation of NEI

scholarly journals Central bank digital currencies: experience of pilot projects and conclusions for the NBU

2020 ◽  
Vol 2020 (4) ◽  
pp. 103-121
Author(s):  
Yuliia Shapoval ◽  
◽  
Keyword(s):  
Central Bank ◽  
Interest Rates ◽  
Financial Institutions ◽  
Commercial Banks ◽  
Financial Stability ◽  
Banking System ◽  
Developed Countries ◽  
The Bahamas ◽  
Bank Of England ◽  
The Impact

An overview of the definitions of central bank digital currency (CBDC), formulated by researchers of the International Monetary Fund (IMF), the Bank for International Settlements (BIS), the Bank of England, is presented, and the essence of the CBDC is revealed. It is stated that the existing electronic money is a digital form of obligations of financial intermediaries, and CBDC is a form of emission and obligations of central banks. The types and forms of CBDC are generalized, namely: retail or wholesale, account-based or token-based ones. The structure and functionality of the register, payment authentication, access to infrastructure, and governance are defined as factors taken into account during CBDC designing. Similar models of launching national CBDC by the Bank of England (economy-wide access or financial institutions access, and financial institutions plus CBDC backed narrow bank access) and BIS (direct, indirect, hybrid) are under consideration. The synthetic CBDCs are marked as a theoretical concept of CBDC. The overview of projects of the People's Bank of China – "e-renminbi", the Central Bank of the Uruguay – "e-peso", the Central Bank of the Bahamas – "sand dollar" and the Eastern Caribbean Central Bank affirm the interest of developing countries in launching national retail CBDCs. It was found that apart from the Riksbank with the successful "e-krona" project, most of the monetary authorities of developed countries (BIS, Bank of Japan, Bank of Canada, Deutsche Bank, FRS) are just planning or starting to experiment with the issuance of digital securities, which demonstrates their concern about the restructuring of the banking system and the changes of global role of traditional currencies. Among the positive consequences of the introduction of CBDC for the domestic banking system are the emergence of an alternative payment instrument, the implementation of effective monetary policy through increased influence on interest rates, and regulation of the legal regime of crypto currencies. At the same time, the introduction of CBDC involves certain changes in financial intermediation (replacement of the deposits of commercial banks with the CBDC, the performance of functions inherent to commercial banks by the central bank or fintech companies), and will require powerful technical capabilities, including those related to protection from cyber risks. The results of the study point to the need for a cautious approach to the implementation of the Ukrainian CBDC only after the NBU assesses the public demand for new forms of money and the impact of the launch of CBDC models on price and financial stability, and compares available payment technologies that can achieve the same goals as the CBDC.

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