Modernization of the banking sector in the context of digitalization of the economy of Kazakhstan

   The paper examines the transformations taking place in the financial sector that are caused by modern problems and opportunities of the entire industry, whether it concerns insurance, retail, banking or other financial services. At the same time, there are a number of specific tasks in each of these segments of the financial industry, depending on the level of maturity of digital transformation, the customer base, including the use of digital channels, new data warehouses, advanced analytics and the degree of digitization of these processes.   The purpose of the study is to summarize the state of development of digital transformation, the experience of digitalization of the banking system, to identify problems and ways to overcome them.   Special attention is paid to the current state and prospects for the development of innovative technologies in the banking sector of the economy of Kazakhstan. The methodology of the research was based on the study of the works of foreign and domestic authors using the method of systematic and comparative analysis, the method of statistical data processing, theoretical generalization of the sources studied. The modern digital banking system combines the advantages of two components: a new approach to customer service and the introduction of an effective operating model – both factors are incorporated by digitizing basic technologies, processes and structures. From the outside, customers benefit from price benefits with increased transparency and comparability of results. The findings of the study show how banks respond to these challenges and needs by providing immediate, high-quality interaction, and transactions are executed quickly and reliably.