THE ROLE OF MODERN FINANCIAL TECHNOLOGIES IN THE ACTIVITY OF CREDIT ORGANIZATIONS OF THE REPUBLIC OF TAJIKISTAN

Ilhomjon Qodirov

Authors

 

Yusupova G.A. – Candidate of Economic Sciences, Associate Professor of the Department “Finance and Credit”, Polytechnic Institute of Tajik Technical University, Khujand, Republic of Tajikistan, yusupova_gulya@rambler.ru

 

Annotation

 

    The article provides the concept and essence of financial technologies and indicates that financial technologies have become an important area of activity for credit institutions. Financial Technology (FinTech) uses technology tools to help consumers and businesses manage their financial transactions more efficiently. It was noted that financial technologies are actively developing in the financial sector and various innovations are being introduced. The study describes the main stages of the formation of the field of financial technology. It has been determined that in modern conditions the key to the successful operation of banking institutions is the development and implementation of modern financial technologies leading to the introduction of new products and services that provide and maintain competitive advantages in the long term. Modern financial technologies such as cloud technologies, machine learning, artificial intelligence, blockchain, application programming interface (API), smart contracts, etc. are considered and their capabilities are studied. It was determined that the introduction of modern financial technologies in the bank will speed up the process of customer service. The calculation and analysis of indicators of digital financial services, which revealed the state of use of digital services in the Republic of Tajikistan is presented.

 

Keyword

 

 financial technologies, FinTech stages, RegTech and SupTech technologies, classification of financial technologies, indicators of digital financial services

 

References

 

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Publication date

2023-10-27