Transformation of banks’ business models in the context of ensuring the security of the banking system in Kazakhstan

Abstract

The article discusses the main aspects of the development of the banking sector, taking into account the development of digital solutions. The vectors in the development of high-tech in banks are discussed, as well as the changes that these technologies bring to business processes, banking solutions and offers, customer service models and the improvement of the personal ecosystem. Domestic and foreign examples of the use of high-tech in the process of planning, evaluating and monitoring decisions are analyzed, which makes it possible to demonstrate the prospects for their application for further implementation of the principles and procedures of effective management. The study showed that the digital agenda of the entire process chain will become the main vector of development of any business, including banking. In addition, the use of advanced technologies in the banking system will help solve a large number of unresolved issues. Technologies such as machine learning, P2P lending, blockchain and artificial intelligence will provide an opportunity to moderate technological changes, allow you to personalize solutions, reduce the time of banking transactions, eliminate technical errors in calculations and the risks of deliberate data distortion. The purpose of the study is to present a description of the main directions of digital transformation of banks’ business models in the context of ensuring the security of the banking system in Kazakhstan. Keywords: banking sector, innovative technologies in banks, credit risks, digitalization, banking services market, artificial intelligence.