INTERNATIONAL SYMPOSIUM “ADVANCED RESEARCH IN ECONOMICS AND BUSINESS MANAGEMENT”,
SEPTEMBER 19, 2025
726
INTERNATIONAL EXPERIENCE IN THE DEVELOPMENT OF
DIGITAL BANKING SERVICES AND PROSPECTS FOR THEIR
EFFECTIVE APPLICATION
Samanda Raimbe die
UBS Tashken b anch, eache o he Depa men o Economics
h ps://doi.o g/10.5281/zenodo.17289215
Anno a ion. Since he ea ly days o ou coun y’s independence, he implemen a ion o
undamen al economic e o ms in he banking sys em has become one o he key di ec ions o
na ional economic policy. A p esen , he ul ima e objec i e o comme cial banks is o maximize
p o i s, and achie ing his goal equi es no only he s eady g ow h o e u ns on bank asse s bu
also he op imiza ion o expenses. In his p ocess, pa icula emphasis should be placed on he
quali a i e aspec s o enhancing he p o i abili y o bank asse s, which ca ies signi ican
p ac ical impo ance. A aining his, in u n, necessi a es he abili y o each comme cial bank o
e ec i ely manage i s inancial esou ces.
Keywo ds: in elligen au oma ion, e enue s eams, digi al banking b and, digi al
channels, digi al b anch o he bank.
The i s bank o o e i s se ices ia he In e ne eme ged in 1995 unde he name “Fi s
Secu i y Ne wo k Bank”. As a esul o elec onic se ices, he bank’s asse s inc eased by USD
110 million in i s i s yea , wi h an a e age mon hly capi al g ow h o 20 pe cen , while he
numbe o cus ome accoun s ose by ens o housands. Al hough i ans o med in o a ully
i ual bank in 1997, i ul ima ely ailed due o a lack o cus ome us and was subsequen ly
acqui ed in 1998 by he U.S.-based “Royal Bank Financial G oup.” This bank ope a ed
exclusi ely wi hin he digi al sphe e, wi h no physical b anch o ices o cus ome in e ac ions.
Th ough he bank’s websi e, clien s we e able o open and manage a ious ypes o accoun s,
make paymen s o goods and se ices, and check he balances o hei pe sonal accoun s. The
bank’s clien ele was dis ibu ed ac oss 45 U.S. s a es. By Decembe 2001, each o he eigh
la ges banks in he Uni ed S a es had a leas one million online use s, while o e 19 million
U.S. households we e managing hei bank accoun s online[1].
In 2005, banks began p o iding se ices in online mode, which na u ally equi ed he
adap a ion o banking legisla ion o eal- ime ope a ions. Fo his eason, he Fede al Financial
Ins i u ions Examina ion Council (FFIEC) de eloped egula ions and guidelines o inancial
ins i u ions. In pa icula , hese included conduc ing isk-based assessmen s, e alua ing cus ome
no i ica ion p og ams, and implemen ing secu i y measu es o he au hen ica ion o emo e
paymen ansac ions[2].
Since he 2000s, and pa icula ly a e Apple Co po a ion in oduced he iPhone in 2007,
banking access channels began shi ing om pe sonal compu e s o sma phones. As a esul ,
banks s a ed o e ing mobile de ice–based banking se ices o hei clien s. F om 2007 onwa d,
mobile communica ion ools became an essen ial pla o m o bank cus ome s. Today, Bank o
Ame ica con inues o be a leade in he banking sec o , p o iding inno a i e se ices o mo e
han 24 million ac i e mobile use s and o e 30 million o al use s[3].
INTERNATIONAL SYMPOSIUM “ADVANCED RESEARCH IN ECONOMICS AND BUSINESS MANAGEMENT”,
SEPTEMBER 19, 2025
727
Acco ding o a s udy conduc ed by he Eu opean In o ma ion Technology Co po a ion,
o e he nex i e yea s he e will be ou majo ans o ma ional challenges and oppo uni ies
o he u u e o banking.
– Mee ing he comp ehensi e needs o cus ome s. Based on esea ch by he Digi al
Banking Repo agency, conside ing he mos signi ican end o he pas ou yea s, i is
deemed app op ia e o inancial ins i u ions o shi om physical in e ac ions o digi al
communica ion. Fo digi al banks and c edi unions, he challenge o mee ing cus ome needs
while educing ou ine isi s and cos s emains p essing; howe e , i hese issues a e e ec i ely
add essed, hey may ansla e in o subs an ial bene i s o banks[4];
– Op imizing cos s. Due o he e iciency o digi al compe i ion, banks and c edi
unions mus conside di e en ia ing hemsel es om non-bank ope a ions and adop ing
in elligen au oma ion. In addi ion, ins i u ions will need o eenginee o ice p ocesses and
eplace ou da ed in as uc u e[5];
– C ea ing new e enue s eams. The use o specialized so wa e by banks con ibu es o
cos educ ion, e enue g ow h, and he eme gence o new oppo uni ies. By op imizing he
adi ional banking ecosys em, banks a e able o de elop new p oduc s and segmen hei
ma ke s, he eby o e ing di e en ia ed alue p oposi ions and expanded mone iza ion
oppo uni ies.
– De eloping secu i y and compliance sys ems. Al hough o many inancial ins i u ions
cus ome da a i sel ep esen s a o m o “p oduc ,” he need o ad anced secu i y measu es and
sophis ica ed a i icial in elligence–d i en insigh s will become a de ining ac o beyond
compliance and cus ome us . Such measu es can lead o cos educ ions and os e business
g ow h.
Acco ding o IBM’s epo Designing a Sus ainable Digi al Bank, ou models o digi al
banking a e iden i ied and explained:
1. Model A – Digi al banking b and. T adi ional banks, seeking o adap o mo e
ad anced and demanding cus ome s, c ea e new b ands h ough inno a i e p oduc s and
o e ings. These b ands a e hen applied o he al eady unc ioning banking in as uc u e.
Examples include FRANK by OCBC in Singapo e and LKXA by CaixaBank in Spain.
2. Model B – Banks wi h digi al channels. Unlike Model A, hese banks c ea e a
ne wo k ha enhances he exis ing cus ome expe ience. They ely on he pa en bank’s back-
o ice sys ems and license, while eselling se ices h ough a mo e use - iendly in e ace.
Examples o his model include Mo en in he Uni ed S a es and Rocke bank in Russia.
3. Model C – Digi al subsidia y o a bank. This model combines wo di ec ions:
digi al use expe ience and new business p ocesses. Banks ope a ing unde his model unc ion
as sepa a e en i ies in p ac ice. One example is Hello Bank, he digi al subsidia y o BNP
Pa ibas.
4. Model D – Fully digi al bank. Such banks p o ide hei en i e ange o p oduc s
exclusi ely h ough digi al echnologies. A p ime example is Fido Bank in Ge many.
The cha ac e is ics speci ic o each o hese ou models a e ou lined below. The da a
sugges ha Models A, B, and C ope a e unde he license o hei pa en bank, while only Model
D embodies a ully- ledged digi al banking ins i u ion (Table 1).
Table 1.
Fou models o digi al banking[6]
Model
A -
B –
S – bank
D –
INTERNATIONAL SYMPOSIUM “ADVANCED RESEARCH IN ECONOMICS AND BUSINESS MANAGEMENT”,
SEPTEMBER 19, 2025
728
digi al bank
b and
digi al o he
channels has
bank
digi al b anch
comple e digi al
bank
P oduc s,
sales,
ma ke ing
Independen
Independen
Independen
To you bank
cha e has i 's no
Channels
Many in cases
wi h he
ounding bank
oge he o in a
posi ion
Independen
Independen
To you bank
cha e has i 's no
Back o ice
Founde bank
om he bo om
uses
Founde bank
om he bo om
uses
Independen
To you bank
cha e has i 's no
Bank cha e
To you bank
cha e has i 's
no
To you bank
cha e has i 's
no
To you bank
cha e has i 's
no
To you bank
cha e has i 's no
Thus, Model D banks a e conside ed ully digi al banks, which, in addi ion o selling
p oduc s and deli e ing ma ke ing se ices digi ally, also possess independen channels,
independen back-o ice sys ems, and hei own independen banking cha e .
F om he abo e, i can be concluded ha a genuine digi al bank deli e s i s co e p oduc s
and se ices digi ally, while i s cus ome s conduc hei daily banking ac i i ies h ough digi al
channels. The in as uc u e o a digi al bank is designed o eal- ime digi al in e ac ion and is
highly adap able o new ad ancemen s in digi al echnologies.
REFERENCES
1. Online Banking Repo , Jan. 2012.
2. “Au hen ica ion in an In e ne Banking En i onmen ”. Fede al Financial Ins i u ions
Examina ion Council, accessed Ma ch 24, 2014,
h p./Ywww. iee.go /pd /au hen ica ionguidance.pd .
3. www.banko ame ica.com – The o icial websi e o “Bank o Ame ica”.
4. h ps://www.digi albanking epo .com – The o icial websi e o he Digi al Banking Repo
jou nal.
5. h ps:// he inancialb and.com – The o icial websi e o The Financial B and
6. “Designing a sus ainable digi al bank” Lea ning om he digi al pionee s-IBM Sales and
Dis ibu ion Whi e Pape Execu i e Summa y// Copy igh IBM Co po a ion 2015-p.3.
