DIGITALIZATION OF THE BANKING SECTOR OF THE REPUBLIC OF UZBEKISTAN: ASSESSING THE EFFECTIVENESS OF DIGITAL PLATFORMS
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https://doi.org/10.5281/zenodo.21284651##article.subject##:
digital transformation, banking sector, digital platforms, commercial banks, mobile banking applications, financial inclusion, cashless payments, P2P transfers, API integration, open banking, cybersecurity, fintech, regulatory framework, digital infrastructure, payment systems.##article.abstract##
Amid the rapid digital transformation of the global economy, the banking system of the Republic
of Uzbekistan has entered a phase of intensive modernization, the key features of which include the adoption of
digital technologies and the growing application of innovative platforms. This article examines the impact of digital
solutions on enhancing the operational efficiency of commercial banks, expanding access to financial services, and
reinforcing the trend toward cashless transactions. The analysis draws upon statistical data from the Central Bank
of the Republic of Uzbekistan, which provide insights into the dynamics of payment volumes and transactions,
as well as the degree of penetration of mobile banking applications. Particular emphasis is placed on issues of
digital financial inclusion, the development of P2P payment services, and the role of API integration in shaping the
architecture of open banking. The findings indicate that digitalization contributes not only to the intensification of
transactional activity and the reduction of costs but also to the creation of an innovative ecosystem that enhances the
competitiveness of the national banking sector. At the same time, certain challenges persist, including cybersecurity
concerns, uneven access to digital services across regions, and the necessity of refining the regulatory framework.
The study underscores that the further development of digital platforms requires a comprehensive approach
encompassing the expansion of infrastructural capacities, the strengthening of customer trust, and the advancement
of financial literacy among the population.
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