DIGITALIZATION – DIGITAL TRANSFORMATION OF BUSINESS PROCESS IN CREDIT SYSTEM

Abstract

The article discusses the key aspects of banking-credit sector development in digitalization conditions, which is expresses in the trends of digital development in banks, the changes of business process, banking products and services, their ecosystem services and development models under the influence of digitalization. The local and foreign assessment and analysis of the best practices in the use of modern digital technologies in the planning, monitoring and evaluation of governance decisions gave us the opportunity to formulate proposals and recommendations in relation to the priority direction of the use of digital technologies, in the framework of the further adoption of management principles and procedures according to the results. The research conducted based on the secondary data found by us determined that the digital transformation of the environment and business processes will be the main direction of development of any business (including banking and credit business).Moreover, the development of the banking system based on the use of innovative (digital) technologies provides opportunities for solving many problems, for example, penetrating technologies as artificial intelligence, Blockchain, P2P lending, will accelerate the implementation of technological calculations, increase the speed of banking operations, increase the accuracy of calculations, reduce reporting risk of intentional data distortion. We used the methods of analysis, modeling and analogy when setting and solving problems. As a result of the study, the concept of digital bank was defined, the problems of using digital technologies in the banking sector (both in general, and specifically at the level of the national economy) and prospects were identified, and the main directions for achieving success in the digital transformation of business and business processes in the banking institution were proposed, which should be used in our country. It will bring quite a solid result for the banking-credit system in the short term.