Page 133 - "Green Investments and financial technologies: opportunities and challenges for Uzbekistan" International Scientific and Practical Conference

“Yashil investitsiyalar va moliyaviy texnologiyalar: O‘zbekiston uchun imkoniyatlar va muammolar” mavzusida xalqaro
ilmiy-amaliy anjuman materiallari to‘plami (Toshkent, JIDU, 2025-yil 7-may)

New business models such as digital-only banks (neobanks) and banking-as-
a-service (BaaS) platforms are emerging. These models allow banks to focus on
customer experience and innovation, while outsourcing back-end infrastructure to
tech providers.

Additionally, banks are embracing omnichannel strategies, ensuring a
consistent customer experience across all platforms—whether a customer uses an
app, website, or walks into a physical branch.
With the implementation of Digital Transformation, banks may provide
customers with self-service options, quicker approvals for lending, and on-the-fly
financial data, among other things. Recognizing the threat of using such
technologies, the adoption of facial recognition, fingerprint scanning, and voice
authentication maintains security while offering convenience.

Today, digital tools allow banks to look at customer profiles holistically, while
client interaction allows for providing financial advice, targeted offers, and user
interfaces based on the profile. This increases customer satisfaction, which, in turn,
raises retention and loyalty.

Behind the scenes, banks are automating tasks such as compliance checks,
data entry, fraud detection, and transaction monitoring. Robotic Process Automation
(RPA) is being used to reduce manual workloads and operational costs.

This internal digitization leads to faster decision-making, fewer errors, and
better resource management. It also frees up human employees to focus on high-
value tasks like customer relationship management and strategic planning.

The banking industry stands at the crossroads of tradition and innovation,
where digital transformation is no longer optional—it's inevitable. As emerging
technologies reshape every aspect of banking, from customer service to back-end
operations, financial institutions must evolve or risk falling behind. The shift
towards digital platforms, data-driven decision-making, and technology-first models
is not just a trend—it's a strategic imperative fueled by changing consumer
behaviors, heightened competition, and a rapidly evolving technological landscape.
Artificial intelligence, blockchain, big data, and cloud computing are not just
tools—they are catalysts redefining what banks can offer and how they operate.
These technologies have enabled banks to streamline services, enhance security,
personalize user experiences, and dramatically improve efficiency. At the same time,
digital transformation introduces new challenges, including cybersecurity risks,
regulatory hurdles, and the need for cultural and organizational change.Yet, the
rewards outweigh the risks. Banks that successfully embrace digital transformation
will not only increase their operational resilience and market competitiveness but
also create new value for customers and stakeholders alike. In this rapidly digitizing

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