DIGITAL TRANSFORMATION IN THE BANKING SYSTEM: PROSPECTS FOR COOPERATION BETWEEN FINTECH COMPANIES AND BANKS
Keywords:
Digital transformation, banking system, fintech, financial technology, bank–fintech collaborationAbstract
This article examines the ongoing digital transformation within the banking system, with a particular focus on the growing collaboration between traditional banks and fintech companies. As financial technologies evolve rapidly, banks are increasingly partnering with fintech firms to enhance innovation, improve customer experience, and stay competitive in the digital era. The paper explores key areas of cooperation such as digital payments, lending platforms, open banking, and blockchain applications. It also highlights the challenges that may arise in such partnerships, including regulatory compliance, data sharing, and cybersecurity risks. By analyzing both global trends and regional developments, the study provides insights into how effective bank–fintech collaboration can shape the future of financial services
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