INNOVATION IN BANKING SERVICES AMID THE RISE OF THE DIGITAL ECONOMY: STRATEGIC APPROACHES AND GLOBAL TRENDS
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The article explores the transformative impact of digital technologies on the banking sector within the evolving digital economy. It examines strategic approaches adopted by banks, such as Banking-as-a-Platform and open banking, to enhance efficiency and customer engagement. The study highlights the integration of artificial intelligence, machine learning, big data analytics and blockchain in banking operations, emphasizing their roles in fraud detection, personalized services and operational optimization. It also discusses the emergence of fintech collaborations, regulatory frameworks like PSD2 and the shift towards digital-only banking models. The article underscores the necessity for traditional banks to embrace digital transformation to remain competitive and meet the evolving expectations of digitally savvy customers.
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