COMPARATIVE ANALYSIS OF DIGITAL TRANSFORMATION IN BANKS OF UZBEKISTAN

Abstract

Now banking has become on the hands available 24/7 with amenities for customers, making the sphere more competitive than ever in Uzbekistan. This article aims to scrutinize the stages of digital transformation going on in the banks compared with the socio-demographic indicators. Moreover, the growth tendencies of digital banking are analyzed in this article. The results show that the number of digital services is increasing relatively with the number of customers. However, the high prices of digital banking services suggest that the number of digital services is still behind than needed in Uzbekistan. This article analyses the implementation and adoption of digital banking services in Uzbekistan. Using data from the last 5 years, socio-demographic and financial inclusion factors of the population were studied and presented in a table. Furthermore, comparative analysis and SWOT analysis between TBC bank and SQB bank has been done to see the impact of implementing digital technologies.