BANK TRANSFORMATION PROCESS IN AN UNSTABLE GLOBAL ENVIRONMENT

Abstract

The purpose of the article is to study the process of transformation of banks in an unstable global environment and determine the prospects for the future. The unstable global environment is a complex dynamic system that requires rapid changes within the bank itself to adapt. Banks are changing, adapting to an unstable global environment and demonstrating the ability not only to withstand adverse factors, but also to seize opportunities to improve efficiency. The peculiarity of the transformation of commercial banks in an unstable global environment is that they must act faster than competitors, improve efficiency in order to compensate for the negative impact of the unstable global environment, achieve coordination to adapt to the internal and external environment, cooperate with fintech companies, introduce innovative technologies, master new innovative directions. We think the future of banking is collaboration between traditional banks and neo-banks, especially given the fact that it is becoming increasingly difficult to achieve and maintain profitability in the unstable environment by independently developing and offering a complete range of traditional financial services and products. Keywords: Bank transformation, Unstable global environment, Innovative technologies, Neobank, Fintech Company.