Digital technologies in transformation of classical retail bank into digital bank

Abstract

This paper consideres, proposes and describes possibilities and methods for using digital electronic technologies for transformation of classical banks into modern digital banks. Digital electronic technologies are widely used, including banking, bank operations and services as one of important sectors. Application of different types of digital technologies, including computers, computer networks, digital communication, Internet and information and communication technologies, with appropriate software, enables increasing speed, security and efficiency of all banking operations and services. It gives many benefits and advantages to the banks and to users of banking services. Way to use modern digital technologies to effectively transform classical financial data bank into digital data bank on the example of typical commercial/retail bank is proposed and described. It is also proposed organizational model of the digital bank. Advantages of using digital technologies and digital banks compared with classical banks are given.