THE ROLE OF DIGITAL PAYMENTS AND STUDYING THE CURRENT SITUATION IN STRENGTHENING THE FINANCIAL RESOURCES BANK OF BANKS IN AZERBAIJAN

Topicality. In recent decades, radical changes have taken place in the institutional architecture of central banking in the world, and modern central banks have become an important institution of macroeconomic stability. The most important anchor of macroeconomic stability is price stability. The fact that prices are low and less volatile allows business to plan investment decisions more correctly, and to optimize the savings and consumption costs of the population. Price stability is also an important social indicator. Price changes directly affect the budget of 2.1 million families living in Azerbaijan. Currently, with the development of the electronic payment system, high activity of credit organizations in the direction of reducing paper technologies is observed. This process is typical: an increase in the issuance of plastic cards, an increase in the turnover and balance in card accounts, and the expansion of services using bank cards are characteristic of this process. During the development of the plastic market, different types of plastic cards are created, which differ in their purpose and technical characteristics. Transactions with bank plastic cards open up new perspectives for financial services to clients of local banks.Aim and tasks. In connection with the expansion of digital payments in Azerbaijan, it is to investigate the features of financial management in banks and to study the current and prospective effects of digital payments in the formation of financial resources of banks.Research results. During the study, the types, characteristics, and effects of the digital payment system on economic processes were studied.Material and methods. Statistical calculations, sample observation, synthesis, regression analysis were used in the study. Regression analysis consists of steps such as selecting the model type, calculating the parameters, constructing the model, and assessing its suitability and accuracy. The level of accuracy of the model characterizes the degree of deviation of the actual values of the dependent variable from the values obtained on regression models. Estimates such as average relative error, average absolute error, standard error are used to estimate the level of accuracy.Conclusion. It is important to improve and develop the infrastructure of banks in order to present the applications of banks in the field of digital banking to the wider public.