Digital transformation of banking services: development scenarios and management mechanisms

The search for new economic tools, technologies, and directions for the development of banking services in the context of increased competition is caused by the presence of several problems, which are outlined in the following way. First, the developing Kazakh banking services market is very attractive for foreign financial institutions, whose entry into the financial markets of leads to an increase in market concentration, and, as a result, an increase in competitive pressure. Secondly, the recent trend of growth of the Kazakh economy and the development of its real sector led to a decrease in the profitability of speculative instruments, which traditionally served as the main source of profit for banks. Third, during the reform of the Kazakh economy, there was a significant change in the value system of consumers of banking services, a shift in emphasis from the price characteristics of the product to the service ones, which increases the importance of developing and implementing modern technologies to meet customer demand. Fourth, under the current circumstances, it is important to identify the prospects for banks to maintain strategic competitive advantages in the national financial market, despite the increased presence of foreign companies. This requires studying the country features of the formation of the banking services market, identifying the main development trends, justifying a set of technologies to improve the efficiency of working with clients in a competitive environment. As a result of the author's research, the practical aspects and significance of banking services management are substantiated, based on which the corresponding conclusions are made