CC BY
5
ПРЕДСТАВЛЕНИЕ НАУЧНОЙ РАБОТЫ
ОРЧЕСТВА
DIGITAL BANKING SERVICES AND ITS BENEFITS
Umarova K.A., Hamdamov Sh.R., Tashkent State University of Economics, Tashkent, Uzbekistan
E-mail: umarovakomola1992@gmail.com
Abstract. A digital bank is a bank or its subsidiary that provides remote banking services using innovative banking technologies. In this article, we will define the concept of "digital banking" using the example of the activities of HAMKOR BANK JSC and analyze the current state of digital banking services and the bank's activities.
Also, as a result of comparing the activities of traditional banks and digital banks operating in the country, conclusions were drawn about the development of banking services in the country.
Key words: digital banking, digital banking, digital innovation, mobile application, traditional banking, call centers, online credit, online deposit
Introduction
System of modernization and simplification of banking services in the country plays an important role in the development of financial services. Today Information technologies are widely used in the banking system, as in all areas done The development of digital banking in the banking system is the key to economic growth that it is one of the issues, especially the coronavirus that is prevailing all over the world.
It was also evident during the pandemic. The president will stop the banking system "Unfortunately, the banking system uses digital technologies, a new bank behind modern requirements for the introduction of products and software remains," he noted.
Due to the widespread use of the Internet and mobile technologies, the banking services market has undergone radical changes.
Because of the increasing number of electronic channels, e-banking services are developing and this situation is opening the doors of great opportunities for customers.
Due to the development of information and communication technologies (ICT) and their use in the country's economy, the country's economy is developing rapidly.
ВЕСТНИК НАУКИ И ТВОРЧЕСТВА
Szajna, 1996; Ramayah, 2005 stated that according to the results of the research, as a result of reducing the use of technology, the productivity and productivity of the population will be negatively affected. Due to the impact of technological innovations, banking services are developing rapidly. At the beginning of the 21st century, banks began to be used as communication channels. Devlin, 2000; As mentioned by Shi Yu, 1995, by the 1980s, ulat was used as a telephone connection, and in the 1990s, the use of internet banking and mobile banking services was introduced. At this point, the commercial banks of the Republic of Uzbekistan are offering many opportunities to customers owing to their remote banking services. In this we develop digital banking services we need to recognize it as a necessary issue. This is one of the important issues offering convenient services that increase users' confidence in the banking system is the development of a digital banking system.
Literature analysis and methodology.
Research shows that innovative using banking technologies (without providing cashier services) a bank or its subsidiary that provides remote banking services is a digital bank. This is the definition given to the entire bank or bank branch. Digital banking products online to users of banking services should be considered as a software package for presentation. A.A. Gontar said, "Digital banking is a bank and its customers A new form of interaction between, including digital, information and financial for consumer and commercial clients in the field of technology strategies innovations in the field of services".
Research scientists Suchat Tungjitnob, Kitsuchart Pasupa, Boontawee Suntisrivaraporn made the following comments about "Mobile banking" in his research "Bank customers use mobile applications of banks (mobile banking)
For the first time, the concept of digital banking entered the legislation of Uzbekistan in 2018 "Registration of banks and licensing of their activities on the procedure" in the first paragraph of the Regulation, the digital bank is defined as follows given:
"Digital bank - using innovative banking technologies (cash register without providing the service) a bank that provides remote banking services or its structural unit. Remote provision of banking services by digital banks taking into account the requirements of legal documents based on the internal rules of the bank will be carried out without".
In addition, in January 2018, the joint-stock commercial bank "Hamkorbank" with foreign capital offered its customers the "Hamkor mobile" application for online deposit registration. "Hamkor mobile" service can be used by getting a Hamkorbank plastic card in national currency. Thanks to the use of the mobile application, customers will have the opportunity to see the status of your online deposits and realtime interest monitoring. (Mamadiyarov, May 2018).Currently, the banking industry has entered a digital arms race around the world.
In 2018, the world's banks spent 9.7 billion for digital banking opportunities. USD planned to invest in the amount Most commercial banks have online and creation
ВЕСТНИК НАУКИ И ТВОРЧЕСТВА
and development of mobile banking applications for conventional bank branches and ATMs is considered more important than reproduction. How banks around the world are already investing in digital technologies about accessibility and customer engagement and satisfaction understands. For example, Bank of America compared to traditional bank branches accepted more online deposits. Brian is the Chief Executive Officer of the bank According to Moyniha, the investment in digital banking is up to the customers helps to meet the need. In fact, the concept of "Digital Bank" is Europe for 2015-2020 rapidly developed in the countries. Digital banks are more convenient for their customers and modern digital innovations to provide useful services widely used.
It should be noted with regret that according to the data of the World Economic Forum our country is in one of the last places according to this indicator. Financial national in order to overcome the negative consequences that are happening in the sector because of this it is important to achieve widespread use of the digital economy in the economy is one of the issues. Application of digital banking methods, economic ensuring security and giving special importance to the development of mobile systems is important for the development of financial markets and banks. President of the Republic of Uzbekistan "Republic of Uzbekistan Central PF5296-decree number 1.
After signing, the banking system specialized in retail banking services establishment of "digital" banks and banking units and innovative bank improving the quality of customer service using technologies tasked with expansion.
This means that the digital banking client is banking 24/7 can use the services. That is, mobile to the customer in the digital banking system program, and based on the mobile program with high-tech IT-infrastructure high flexibility of the reformed banking operations is provided.
As can be seen in the table above, digital banks are mostly owned by customers serves the convenience. Although traditional banks also have their own mobile applications creating and operating 24/7 contact centers and their activities and management are carried out centrally. And this negatively affects the level of satisfaction of customers with banking services.
Features available in the HAMKORBANK mobile application:
- Easy registration with Face ID via NFC;
- Convenient interface;
- Smart transfer;
- Ordering and delivery of cards;
- Currency exchange operations;
- Payments for services;
- Registration of loans;
- Opening and managing deposits;
- Security management through Life ID;
- Block cards;
- Transfers between accounts and cards;
- Information and statements on cards and account numbers;
- Car payments.
ВЕСТНИК НАУКИ И ТВОРЧЕСТВА
Table 1
The main differences between traditional and digital banks
Traditional Banks Digital Banks
Each district of bank branch networks, functioning in the city and region, quality lack of attention to the level; lack of expansion of the network of bank branches
Establishing online communication between the bank and the client low status; 100 of the online communication system between the bank and the client interest rate
Mobile apps are made but mobile simple card-to-card transfers in apps or in the process of paying utility bills there are constant problems, many In some cases, system interruptions are observed high-quality and user-friendly mobile application
deposits that meet market requirements and loans are issued, but in most cases familiarity plays a big role (if familiar otherwise, that customer is 3 months or more wanders for a while) deposits that meet market requirements and the most favorable conditions for loans (that is, the customer arising from the demand) and in urgent cases service
Contact centers that respond 24/7 operates only in the name, the customer has one question all branches of the bank for answers he has to talk to specialists. Client time, client for telephone communication service fast, quality, convenient and 24/7 response availability of contact centers
Mainly salary certificate and others additional documents are requested No need for additional documents
Centralization of management and the human factor play a big role Service provided by the program and the person the contribution of the factor is relatively reduced
Services as a result of high bank costs high cost Low cost of services (large building and lack of need for offices)
»
46
ВЕСТНИК НАУКИ И ТВОРЧЕСТВА
The basis of HAMKORBANK's development strategy is customer orientation and it contains a number of elements. Including responsiveness and support desire to give, simplicity of approach, a step to people in life and business giving an opportunity to be ahead, maintaining an individual approach to any client any with the security of stay and data processing direction to fulfill the request as soon as possible.
As a result of these actions and strategies, HAMKORBANK in 2022 is as follows achieved results:
- service to the entire Republic has begun;
- the number of employees in the team reached 860;
- customer base increased to 120,000, 100,000 bank cards were issued and 370 billion from individuals for deposit. soums were involved;
- the number of partners has exceeded 2600;
- more than two hundred organizations totaling 21 bln. monthly nominal soum salaries were transferred through Hamkorbank;
- app downloaded 276,000 times, daily active from the app and the number of users is more than 45,000.
Conclusions and suggestions. Hence the digital transformation of financial services to increase financial activity by creating wide opportunities for bank customers along with being considered an important stage, the economic opportunities of customers helps to expand. That is, one of the prospects of digital banks is this 4565% of the cost of services due to digitalization of financial networks reduction is achieved. Clients visit the bank to complete documents allows to save time and money.
In a word, the transformation process of commercial banks and digital
The change in working in the banking system is the development of new information technologies and It is a response to the active spread of digital technologies around the world not only increases the quality of products and services, but also reduces excess costs. In other words, the development of digital financial services is a country serves as an important direction of the development of the banking and financial system.The above numbers indicate that the bank is developing rapidly and to the client quality services offered by customers based on the principle of orientation is widely accepted and the number of bank customers is increasing day by day. And this since the beginning of a new digital banking trend in the banking and financial system of our country indicates. For this reason, traditional banks are also digital Paying great attention to the development of banking services has become the need of the hour is going.
References:
1. Mamadiyarov, Z. (2018 May), Mobile banking apps and their development in commercial banks of Uzbekistan, International scientific and practical conference of "Action Strategy of the Republic of Uzbekistan: Macroeconomic Stability, Investment Activity, and Prospects for Innovative Development" scientific materials and articles collection, (May 28-29, 2018, Tashkent). Part 2. pp. 78-83.
ВЕСТНИК НАУКИ И ТВОРЧЕСТВА
2. President of the Republic of Uzbekistan Sh.M. Mirziyoyev to the Oliy Majlis Application // Application January 25, 2020
3. Khudoykulov, H. A., & Sherov, A. B. (2021). DIGITAL economy development in corporate governance of joint stock company. Economics and business: theory and practice, (3-2), 217-219.
4. Matkulieva, S., & Atabaeva, K. (2022). ROL Tsifrovykh Bankovskikh style and development of australia and economy of australia. Scientific progress, 3(2), 360363.
5. Sherov, A. (2017). Off-budget for higher education institutions improving fundraising. "Business Expert", (3 (111)), 3.
6. Gontar A.A. Digital banking as one of the components of the economic security of a credit organization// Bulletin of the Volzhsky University im. VN Tatishcheva. 2017. T.1. no. 4
7. A.B. Sherov, & Sh. B. Yusupov (2021). zarubejnyy opyt effektivnoy organizatsii denejno-kreditnoy politiki v strane. Scientific progress, 2 (1), 605-609.
8. Suchat Tungjitnob, Kitsuchart Pasupa, Boontawee Suntisrivaraporn "Identifying SME customers from click feedback on mobile banking apps: Supervised and semisupervised approaches". Volume 7, Issue 8, August 2021, e07761.
9. A.B. Sherov, & Kh.M. Radjabov (2021). Kommercheskie bank kac subjekt finansirovaniya investitsionnyx proektov. Scientific progress, 2 (1), 889-893.
10. Thabani Nyoni and others "The impact of digital banking on the performance of commercial banks in Zimbabwe". IJARIIE-ISSN(O)-2395-4396. Vol-6 Issue-6, 2020.
11. Bakberganovich, S. A. (2021). Ways to Increase the Efficiency of Financing Higher Education Institutions. Journal of Marketing and Emerging Economics, 1(7), 49-56.
12. A.B. Sherov, & Kh. A. Khudaikulov (2021). Deyatelnost kommercheskogo banka na mirovyx finansovyx rynkax. Scientific progress, 2 (1), 1261-1265.
13. Taylor Nicole Rogers, "Bank of America finally sees mobile deposits surpass in-person transactions," The Street, July 16, 2018.
14. Sherov, Alisher Bakberganovich, & Ruzmetova, Gulira'No Atabekovna (2022). Implementation regarding the higher education system in Uzbekistan increasing reforms and its financing dolzarb matters. Oriental renaissance: Innovative, educational, natural and social sciences, 2 (2), 264-270.
15. Ibodov, A., & Sherov, A. (2015). Analysis of bank risks in Uzbekistan. Scientific inquiry in the contemporary world: theoretical basis and innovative approach [L 26], 1, 60-63.
16. Kuchkarov, Sh., & Sherov, A. B. (2022). Semeinoe predprinimatelstvo i ego effektivnost Stability and Journal of Leading Research Online, 2(1), 154-157.
18. The official website of "Hamkor bank" JSC. URL: https:// www.hamkorbank.uz/uz/
19. National database of legislative information of the Republic of Uzbekistan. URL: https://www.lex.uz
