GLOBAL DIGITIZATION AND ITS IMPACT ON THE BANKING INDUSTRY

Abstract

In the modern world, globalization is the main direction of development of the world economy, affecting all processes in it to one degree or another.Globalization has had and still has a significant impact on the functioning of national banking systems.In recent decades (since the 1970s), the growth of globalization and instability that characterize the development of the world economy is especially evident in the banking sector, which is most sensitive to external factors.The globalization of the economy has brought great changes to banking.