Digitalization of the Financial Function-Current Status and Development Trends

Authors:

Pages: 160-165

Abstract:

The fast entering new technologies are playing an increasing role in the course of business processes in them. Manual processes are challenge and a problem when everyone works from home and communication is limited to chats with messages and teleconferences. The use of cloud spaces, blockchain applications, artificial intelligence, robots are at the heart of digital transformation and are tools used to achieve better results. This is observed both in the banking sector and in companies with strong financial functions. The report also focuses on the challenges that Covid 19 pandemic posed to the digital transformation and how the financial sector deals with this.

Keywords:

digitalization, financial sector, new technologies, challenges.

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