Transformation of business models of financial organizations in the context of development digital technologies

Abstract

Typical business models that have been inherent in financial organizations for a long period of time have undergone significant changes in recent decades due to the emergence of new global macroeconomic trends, innovative financial instruments, a change in the very paradigm of financing the economy, as well as the developing processes of digitalization. As a result, modern financial technologies, including those related to the introduction of digital solutions, are now beginning to have a significant impact on the transformation of business processes taking place in financial structures. The article substantiates that these transformations are an evolutionarily determined stage in the development of both financial organizations and individual banks, and their active digital business transformation not only makes financial services more accessible to all categories of customers, but also makes it possible to increase the manufacturability of business processes and ensure transparency and security of financial transactions.