Digital transformation of the banking sector of Azerbaijan

Abstract

Currently, the effectiveness of banks’ activities and their competitiveness in the financial market largely depends on the introduction of the latest banking services and technological processes. This article examines trends in the digitalization of the banking sector in Azerbaijan. The main purpose of the article is to identify key prospects for the development of digital banking in Azerbaijan in the context of the digital economy. As a result of the study, the problems and prospects of using digital technologies in the banking sector were identified.