Digital transformation of the business strategy of financial institutions as a prerequisite for the development of the financial market

Abstract

А business strategy is a continuous process that serves as the basis for developing functional strategies in key areas of development, annual business plans and budgets, as well as forming a mechanism for managing the company᾿s activities. Digitalization of the business strategy of financial institutions is not just a tool for improving efficiency, but also a foundation for their long-term development, which contributes to: improving customer interaction through digital channels; accelerating business processes; reducing costs and increasing transparency; and strengthening competitive positions in the market.