Development Prospects of Modern Banking

Relevance. The philosophy of Industry 4.0 today dictates the complete transfer of many business areas to the online environment, which has been successfully demonstrated by transformational changes in such areas as trade, communications, finance, education, public service, etc. The digital model of the national economy built on this basis is constantly being transformed and requires monitoring of the processes taking place in the information environment. It can be noted that today the world economy has reached a certain point of no return in its development, from which it is no longer possible to turn production processes from a digital model back to a traditional or analog one.
The purpose of the study was to assess current trends in the digitalization of the banking sector in the face of growing competition.
Objectives: to assess the current state and level of development of banking in the current socio-political conditions; to systematically present the main technological solutions that are actively implemented in banking; to highlight the key advantages of banking; to outline the horizon of banking participation in the online space.
Methodology. The methods of generalization, systematization, analogy, graphical and logical analysis, idea generation were used in the work.
Results. Based on a systematic vision of digitalization processes in the banking sector over the past 20 years, an analysis of the level of development of the leader of the banking business Sberbank in the world ranking, a conclusion was made about the need for further investment in technology development.
Conclusions. The article discusses the directions for the future development of banking in the domestic banking sector and draws conclusions about the further development of technologies in the context of the increasing activation of generation Z in the socio-economic life of society

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