Prospects for creating an effective ecosystem to support startups and innovative enterprises in the Voronezh region

Abstract

The purpose of this study is to analyze the impact of digitalization and financial technologies (fintech) on the transformation of traditional banking services. In recent years, digitalization and technology development have led to significant changes in the financial sector, which necessitated a review of banking models and service delivery processes. The main purpose of the work is to identify key changes and strategic approaches that banks use to adapt to the digital environment. The article is based on the study of theoretical sources, empirical data and the analysis of examples of successful integration of fintech into banking processes. The research used methods such as comparative analysis, as well as analysis of the strategies of leading banks in the field of digital transformation. Attention was paid to such aspects as digitalization of customer services, integration of innovative technologies, as well as increasing the level of transaction security. The analysis showed that digitalization has a significant impact on key aspects of banking, including improving the efficiency of processes, simplifying customer interaction, expanding the availability of banking services and automating many routine operations. Fintech companies play an important role in creating new standards in the field of digital solutions, which stimulates traditional banks to significant reforms. The introduction of financial technologies such as artificial intelligence, blockchain and mobile applications has allowed banks to offer more personalized, convenient and secure financial solutions. The impact of digitalization and financial technologies leads not only to the transformation of the banking industry, but also to the creation of fundamentally new approaches to customer service and financial business organization. In order to remain competitive, traditional banks must continue to develop digital solutions and change their strategic priorities towards technological innovation.