scholarly journals Issues and Prospects for Forming Digital Transformation of Commercial Banks of Uzbekistan

2021 ◽  
Vol 7 (1) ◽  
pp. 322-329
Author(s):  
A. Gulyamova
Keyword(s):  
Commercial Banks ◽  
Banking Sector ◽  
Digital Transformation ◽  
The State ◽  
Regulatory Framework

The article discusses the problems and prospects of the formation of digital transformation of commercial banks in Uzbekistan. And also, in the direction of reducing the state share in the banking sector through a comprehensive transformation of the commercial and regulatory framework of Uzbekistan.

scholarly journals Development of Regional Commercial Banks in Digital Economy: Risks and Opportunities

2021 ◽  
pp. 181-193
Author(s):  
Natalia Simaeva ◽  
◽  
Inna Ryabova ◽  
Keyword(s):  
Commercial Banks ◽  
Business Models ◽  
Banking System ◽  
Digital Economy ◽  
Digital Transformation ◽  
The State ◽  
Banking Competition ◽  
Regional Bank ◽  
Regional Banks ◽  
Banking Credit

The article is devoted to the analysis of the activity of regional commercial banks. The purpose of this article is to identify risks and prospects for the development of regional commercial banks in the digital economy. The author explores the concept of a regional bank, analyzes the peculiarities of the activities of regional banks in modern conditions of increasing banking competition. The article analyzes the state and trends of the development of the banking regional sector from the point of view of efficiency increase of their activities. It is shown that the number of regional banks is constantly declining, and a number of constituent entities of the Russian Federation do not have any longer in the structure of their regional banking system banking credit organizations chartered in their territory as a legal entity. The authors concluded that the development of regional banks can be efficient only through the qualitative growth of each individual regional bank, since in quantitative terms this sector of the Russian banking systems will only decrease. As an example the activity of Rostov bank Tsent-Invest and the regional bank of the Republic of Tatarstan Ak Bars Bank are shown, which occupied certain niches in the Russian banking system and fully compete with foreign banks. To identify and assess the current risks of the activity of regional banks specific characteristics of the digital transformation of the banking industry are determined. As the main risks of development, the authors identified the following ones: risk of increased banking competition, on the one hand, and the risk of monopolization of the banking market, on the other; risk of underfunding of financial technologies; information risks and cyber risks; risks of insufficient financial literacy of consumers of banking products and services; risks of customer base reduction. As opportunities for the development of regional banks the use of remote banking services, allowing to attract new customers, expansion of participation in the state programs, emergence of opportunities for the introduction and development of new business models, in particular ESG-banking are identified. The Bank of Russia can provide certain support for the development of regional banks in the context of digital transformation and increasing banking competition by creating and developing nationwide banking infrastructure platforms.

REALITY AND PROSPECTS OF INTERNET BANKING AS A DIRECTION OF DIGITALIZATION IN UKRAINE

2021 ◽  
Vol 1 (21(49)) ◽  
pp. 76-81
Author(s):  
Olena Lysyak ◽  
Oksana Sahaidak
Keyword(s):  
Banking Sector ◽  
Internet Banking ◽  
Digital Transformation ◽  
Management Control ◽  
The State ◽  
The Internet ◽  
Clear Trend ◽  
Foreign Countries ◽  
Ministry Of Finance ◽  
Current Account Balances

The article covers the state of the digitalization process in Ukraine, the advantages of its implementation in the information and telecommunications spheres. The experience of foreign countries in digitalization is briefly analyzed. Some features of the functioning of the best Internet banks of the state are revealed: PrivatBank, UkrSibbank, FUIB. There is a clear trend of banks moving from branches to the Internet, when users are gradually, but persistently, accustomed to all currency transactions through special applications in smartphones. It is noted that the minimum set of any successful digital bank should be the following functions: card limit management, control of current account balances, deposit, payment of utilities, transfer of funds to accounts in other banks. It is indicated that already at this stage of digital transformation the Ministry of Finance has created a "Catalog of the best Internet banking in Ukraine", in which any Internet user in Ukraine has the opportunity to compare and choose Internet banking according to their requirements and preferences. The main advantages, threats and key problems of digitalization of the banking sector in Ukraine are listed.

TOOLS FOR IMPROVING THE ACTIVITY OF A COMMERCIAL BANK IN THE CONDITIONS OF DIGITAL TRANSFORMATION

2018 ◽  
Author(s):  
Olena Yermoshkina ◽  
◽  
Daria Bukreieva ◽  
Anton Putrov ◽  
◽  
...  
Keyword(s):  
Commercial Bank ◽  
Commercial Banks ◽  
Public Services ◽  
Banking Sector ◽  
Digital Transformation ◽  
Technological Innovations ◽  
Topical Issue ◽  
Financial Innovations ◽  
Efficiency And Effectiveness ◽  
Innovative Tool

The article is devoted to the topical issue of improving the activities of commercial banks in the context of digital transformation. The factors that predetermine the development of technological innovations in the financial sector are determined. Based on the analysis of foreign experience in increasing the efficiency and effectiveness of commercial banks in the context of digitalization, it is proposed to develop and introduce a universal electronic card as an innovative tool for improving the bank's activities. It has been proven that the card will allow issuing banks to expand the range of services for the client - the cardholder, will contribute to the image of the issuing bank as a reliable partner, which in turn will increase the customer flow to the branch of the issuing bank. The approaches to assessing the effectiveness of financial innovations in the banking sector are investigated and the following main types of effect are identified: financial, technological, market, the effect of products and services, transparency. A list of main tasks has been established, the solution of which will ensure the successful introduction of a universal electronic card as a multifunctional means of obtaining public services and at the same time a means of payment.

scholarly journals Role of State in the Evolution and Success of Commercial Banks in China

2018 ◽  
Vol 9 (2) ◽  
pp. 38
Author(s):  
Bhabani Shankar Nayak ◽  
Yilin Gao
Keyword(s):  
Competitive Advantage ◽  
Commercial Banks ◽  
Development Process ◽  
Banking Sector ◽  
Banking Industry ◽  
Commercial Banking ◽  
The State ◽  
Financial Reforms ◽  
Large Joint

The article outlines the role of state in the evolution of commercial banks in China. It looks at different stages of its development process. The paper engages with the deepening of state led financial reforms which led to the competitive advantage of China's commercial banking industry. The state-owned commercial banks, large joint-stock commercial banks, and small private commercial banks keep increasing their strengths due to regulations and monitoring by the Chinese state. Therefore, the article argues that state-owned commercial banks have relatively large market share and dominate in commercial banking sector due to the state.

scholarly journals CREDIT: ESSENCE, PRINCIPLES AND FUNCTIONS

2021 ◽  
Author(s):  
Natalia Ostrovska
Keyword(s):  
Social Reproduction ◽  
Commercial Banks ◽  
Banking Sector ◽  
Cash Flows ◽  
The State ◽  
Economic Life ◽  
Bank Loan ◽  
Financial Resources ◽  
Social Infrastructure ◽  
Definition Of

In the modern economic system, with the development of market relations, the leading links in the economy began to be commercial banks, on whose activities depends the effective functioning of the state economy as a whole. The level of development of production, social infrastructure and the degree of development of society as a whole largely depends on how developed the banking sector of the state is. An important role in fulfilling the tasks is assigned to commercial banks, which can provide credit resources to enterprises and organizations, as well as citizens. Among the many categories of economics, credit can be considered among the most important, due to the unique role played by this economic phenomenon in the economic life not only of individual organizations, states, but society as a whole. The purpose of the article is to clarify the conceptual and categorical apparatus of the definition of "credit", its functions and principles of lending. The article examines the theoretical basis for determining the essence of the definition of "credit", its origin, functions and principles of lending, which highlighted the fact that credit is the most common form of raising funds in the banking market. It is determined that a bank loan is a form of credit in which money is lent by banks. Commercial banks licensed by the NBU are the main link in the credit system, they simultaneously act as a buyer and seller of temporarily available funds in society. In the system of economic relations, credit acts as an independent economic category. Thanks to credit, businesses have the opportunity to meet their economic needs to ensure the continuity of the processes of social reproduction, overcoming the limited financial resources. Credit relations allow businesses to increase their financial resources and expand production. The credit relationship between a banking institution and an entity is based on an analysis of the borrower’s financial condition. The main specific features of credit relations are: their emergence at the stage of redistribution of final income; formation on the basis of return and with the payment of interest; impact on the structure and volume of cash flows and features of the bank loan market.

scholarly journals Current approaches to the analysis of the borrowers’ creditworthiness: Ukrainian and World experience

2019 ◽  
Vol 3 (1) ◽  
pp. 48-55
Author(s):  
Inna Khomenko ◽  
Iryna Sadchykova ◽  
Yuliia Krasnianska
Keyword(s):  
Commercial Bank ◽  
Commercial Banks ◽  
Banking Sector ◽  
Credit Ratings ◽  
Banking System ◽  
Financial Economic ◽  
The State ◽  
General Idea ◽  
Leading Role ◽  
Almost All

Introduction. Non-repayment of loans by borrowers not only jeopardizes the profitability of banking structures, but also the ability to calculate them under liabilities - deposit and borrowed funds. This situation is dangerous for the entire banking sector of the country, as it raises a number of acute problems: imbalance of loan and deposit portfolio by volumes and terms; distrust of the population to commercial banks, financial destabilization in the state as a whole, and others like that. Aim and tasks. The main purpose of this work is to study modern domestic and foreign approaches to assessing the creditworthiness of borrowers. Results. Based on the analysis of the definitions it is expedient to use the following interpretation of the term "creditworthiness": the financial, economic and legal capacity of the borrower to obtain a loan and return it to the commercial bank in accordance with the terms and conditions of the agreement. At the initial stages of the methodologies developing for the analysis of borrowers' lending, the leading role was played by the coefficient method, which by its nature is considered the simplest and is currently used as an express evaluation and preceded by other research. Currently, almost all commercial banks use a rating approach to assess the borrower's creditworthiness. Such methods also include calculation of coefficients, but contain a predictive component. The rating approach is valuable, because it requires a constant collection of updated information. Often, banks when building credit ratings use the methods of the relevant agencies. It is now believed that the formation of credit ratings allows you to get the most general idea of the borrower's creditworthiness (at the level of the commercial bank) and about the quality of the loan portfolio (at the level of the banking system of the state). Moreover, when assessing the creditworthiness of borrowers – individuals, the rating approach is most often used. Conclusions. The conducted studies indicate that improving approaches to assessing the creditworthiness of borrowers by commercial banks is particularly relevant for Ukraine. It is important to carry out measures (including administrative) in order to increase the reliability of the input information of borrowers, training of specialized specialists – experts, assessment of qualitative data on the debtor, formation of constantly updated statistical databases, adjustment of methodological developments taking into consideration the variability of the economic situation in Ukraine, ensuring transparency of the analysis, etc.

scholarly journals The Effects of COVID-19 on the Digital Transformation of the Hungarian Banking Sector

2021 ◽  
Author(s):  
Tibor Tóth
Keyword(s):  
Commercial Banks ◽  
Banking Sector ◽  
Digital Transformation ◽  
Exploratory Research ◽  
Current State ◽  
Public Data ◽  
Consulting Firms ◽  
Comprehensive Picture ◽  
Regulatory Bodies ◽  
Negative Factors

When choosing the topic, I tried to focus on dealing with such a current and ongoing event, we still don’t see the result, and I just find where it develops in three, five, or ten years. Digitization affects all segments and industries to varying degrees, and its impact can be widely demonstrated. Besides, the precarious economic situation resulting from the COVID-19 epidemic further complicates the situation. I found the topic relevant because I am dealing with a phenomenon, a dilemma that directly or indirectly affects everyone and can be useful to a wider audience. During the dissertation, I try to answer the following questions: How does COVID-19 affect the process of digital transformation in the Hungarian banking sector? And how does this affect the collaboration strategies of banks and FinTech companies? In my work, I rely mainly on previous publications and articles by international, prominent researchers. Also, I conducted interviews with Hungarian experts who are currently actively working for Hungarian banks. During the selection of the interviewees, I followed the concept of asking the employees of different financial institutions working at different levels for the most comprehensive picture. In terms of methodology, in addition to processing the interviews and evaluating the literature, I tried to collect and analyze surveys and public data from various commercial banks, regulatory bodies, and major consulting firms. In this article, I have collected trends that have influenced the current state of the banking sector and present the operating environment. In addition to the positive and negative factors influencing the relationship between domestic commercial banks and FinTech companies, I outline a possible scenario for a future digitization strategy for the banking sector. This exploratory research aims to examine the situation and to identify the most important variables and correlations.

scholarly journals FINANCIAL FRAUD IN COMMERCIAL BANKS OF UKRAINE. WAYS OF CONTROL IN THE FIELD OF CASHLESS OPERATIONS

2021 ◽  
Author(s):  
Irina Godniuk ◽  
◽  
Inna Shubenko ◽  
Angeliia Volska ◽  
◽  
...  
Keyword(s):  
Public Relations ◽  
Commercial Banks ◽  
Information Technologies ◽  
Banking Sector ◽  
Social Engineering ◽  
The State ◽  
Financial Fraud ◽  
Financial Security ◽  
Role Of The State ◽  
Banking Institutions

The development of non-cash forms of payment, the introduction of bank cards, Internet resources in the field of payments, is a characteristic feature of everyday life. In 2020–2021, due to quarantine measures, Ukrainians increasingly began to choose non-cash payments, payments and online purchases. The active use of the latest information technologies has led to the growth of various manifestations of fraud in the field of public relations, ranging from financial and credit and ending with foreign economic activity and the Internet. Financial fraud, which is a system of relations in the field of money circulation and financial obligations, the purpose of which is to misappropriate the financial resources of banks and/or their customers by deceiving or abusing the trust or position of citizens/employees of banking institutions. The imperfect legal system contributes to the fact that the state continues to actively implement various fraudulent schemes. It has been established that the main type of fraud in the banking sector is payment card fraud. The most common types of fraudulent transactions with bank cards are considered. Based on the analysis of the consequences of cyber-fraud, which occur in the use of payment instruments by banks, it is determined that the most vulnerable place is the client himself, who under the influence of various methods of social engineering becomes the object of fraud. Based on statistical data, the dynamics of the number and structure of crimes related to financial fraud in Ukraine is analyzed and the high level of their latency is emphasized. Emphasis is placed on the important role of the state in overcoming this negative phenomenon. Ensuring the effective functioning of commercial banks, the proper level of their financial security is impossible without the formation and implementation of an effective system for detecting and preventing financial fraud in banking institutions. Analyzing the modern security system, simple rules for using software and electronic payment systems, which are used all over the world, have been introduced. There are also ways to combat financial fraud in general and bank card transactions in particular, which has a positive effect on improving the financial security of a commercial bank.

Cyber crimes in the banking sector: Case study of Vietnam

2020 ◽  
Vol 6 (05) ◽  
Author(s):  
LE Thanh Tam ◽  
Nguyen Minh Chau ◽  
Pham Ngoc Mai ◽  
Ngo Ha Phuong ◽  
Vu Khanh Huyen Tran
Keyword(s):  
Financial Literacy ◽  
Commercial Banks ◽  
Banking Sector ◽  
Secondary Data ◽  
Legal Framework ◽  
Economic Sectors ◽  
Technological Revolution ◽  
Survey Results ◽  
Cyber Crimes

The technological revolution 4.0 brings great opportunities, but also cybercrimes to economic sectors, especially to banks. Using secondary data and survey results of 305 bank clients, the main findings of this paper are: (i) there are several types of cybercrimes in the banking sector; (ii) Vietnam is one of the top countries worldwide having hackers and being attacked by hackers, especially the banking sector. Three most common attacks are skimming, hacking and phishing. Number of cybercrime attacks in Vietnam are increasing rapidly over years; (iii) Vietnamese customers are very vulnerable to cybercrime in banking, as more than 58% seem to hear about cybercrimes, and how banks provide services to let them know about their transactions. However, more than 50% do not have any deep knowledge or any measures for preventing cybercrime; (iii) Customers believe in banks, but do not think that banks can deal with cybercrime issues well. They still feel traditional transactions are more secure than e-transactions; (iv) the reasons for high cybercrimes come from commercial banks (low management and human capacity), supporting environment (inadequate), legal framework (not yet strong and strict enough on cybercrimes), and clients (low level of financial literacy). Therefore, several solutions should be carried out, from all stakeholders, for improving the cybersecurity in Vietnamese banks. 

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