Analysis of factors influencing the digitalization of banking services in Azerbaijan

The article examines the implications of digital transformation for the banking sector, specifically emphasizing the financial system of Azerbaijan. This analysis explores the dynamic banking industry, with a particular focus on the emergence and impact of digital tools on interactions between customers and banks. By analyzing data, including trends in digital banking practices and transactions, the study illustrates the transition to a more digitized financial environment. A central motif is the incorporation of Azerbaijani institutions into the worldwide financial system, which is being shaped by digital trends. A comprehensive analysis of transaction volumes, varieties, and methods is presented in the article, highlighting the increasing inclination towards digital banking as opposed to conventional banking. Additionally, a survey of banking practices is presented, with a particular focus on the growing prevalence of digital banking services. The study culminates in an analysis of the ways in which these developments may affect the future of the financial sector and the wider economy of Azerbaijan.

Ключевые слова: commercial banks, digital banking, banks in Azerbaijan, internet banking, mobile banking

Список использованных источников

  1. D. R. Schallmo, J. Tidd. «Digitalization». Cham: Springer International Publishing, Brighton, 2021. 426 p.
  2. I. Trusina, E. Jermolajeva. A new approach to the application of the principles of sustainable development//Proceedings of the 2021 International Conference Economic science for rural development, Jelgava, LLU ESAF, 2021. P. 11-14.
  3. Digital payments infographic. Official website of the Central Bank of Azerbaijan. https://cbar.az/pages/stats-yearly.
  4. Demographic indicators of Azerbaijan. The State Statistical Committee of the Republic of Azerbaijan. https://www.stat.gov.az/source/demoqraphy/?lang=en.
  5. Which bank gives the most «keshbek»? Official website of Valyuta.az https://valyuta.az/az/arasdirma/38566/azerbaycanda-hansi-bank-en-cox-kesbek-verir.
  6. The amount of VAT returned to consumers for non-cash transactions has been increased. State Tax Service under the Ministry of Economy of the Republic of Azerbaijan. https://www.taxes.gov.az/az/post/2275.
  7. The average monthly salary has reached 923 manat. Official website of Qafqazinfo.az. https://qafqazinfo.az/news/detail/orta-ayliq-emekhaqqi-923-manta-catib-424242.
  8. Composition of customers’ bank accounts and electronic banking. Official statistics of the Central Bank. https://uploads.cbar.az/assets/638c462b7ed4901d9c7666d50.xlsx.
  9. Information about Birbank mobile application. Official website of Kapital Bank. https://birbank.az.
  10. J. R. Landis, G. G. Koch. An application of hierarchical kappa-type statistics in the assessment of majority agreement among multiple observers. Biometrics, 1977. P. 363-374.
  11. L. Kennedy-Shaffer. Before p<0.05 to beyond p<0.05: using history to contextualize p-values and significance testing//The American Statistician, 73 (1), 2019. P. 82-90.
  12. M. L. McHugh. Interrater reliability: the kappa statistic//Biochemia medica, 22 (3), 2012. P. 276-282
  13. M. L. King. The alternative Durbin-Watson test: An assessment of Durbin and Watson’s choice of test statistic//Journal of Econometrics, 17 (1), 1981. P. 51-66.
  14. L. St, S. Wold. Analysis of variance (ANOVA)//Chemometrics and intelligent laboratory systems, 6 (4), 1989. P. 259-272.
  15. N. T. Quan. The prediction sum of squares as a general measure for regression diagnostics//Journal of Business & Economic Statistics, 6 (4), 1988. P. 501-504.
  16. Survey questions forming the practical part of the study. Google Form. https://docs.google.com/forms/d/e/1FAIpQLSfSm_jgH7Es7IOhRX4BkKhsXHadzhA8Osh5VqWrZ2x9gFvEvw/viewform?usp=sf_link.

Авторы