ADVANTAGES AND THREATS OF THE IMPLEMENTATION OF INFORMATION BANKING TECHNOLOGIES
Abstract
This article examines the impact of information technology on the functioning of the banking system in the context of the digitalization of the economy. It is argued that, amid the development of the digital economy, information technology has become a key factor in enhancing the efficiency of banks, improving the quality of customer service, and creating competitive advantages. It is determined that the digitalization of the banking sector encompasses the automation of business processes, the use of data analytics, artificial intelligence, cloud technologies, blockchain, robotic process automation, and other innovative solutions. The paper analyzes the stages of evolution of banking information technologies: from manual processing of financial transactions to the current stage of digitalization, which is based on the use of Big Data, AI, and fintech innovations. The main advantages of implementing information technologies in the activities of banking institutions are described, including increased operational efficiency, cost optimization, improved risk management, the development of new financial products, and ensuring the accessibility of banking services. At the same time, it has been established that the active digitalization of banking activities is accompanied by a number of risks: cyber threats, technical failures, data privacy breaches, significant modernization costs, staffing issues, and imperfections in regulatory frameworks. A summary of current trends in the development of banking information technologies and the associated threats may be useful for Ukrainian banks in the process of digital transformation and enhancing the resilience of the financial system. The purpose of this article is to examine current trends in the development of banking information technologies and to summarize and classify the benefits and threats arising in the process of digital transformation of banking institutions. The use of general scientific research methods, such as analysis, synthesis, classification, and generalization, has made it possible to identify the main vectors of the implementation of banking information technologies and to identify the problems that banking institutions may face.
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