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Banking Innovations As The Basis For Digital Transformation Of The Banking Sector

Table 1: Evolution of digitalization of the banking system (Pertseva, 2017)

Period Stage Stage characteristics
1950s Introduction and issue of plastic bank cards Development of retail banking services
1960s The emergence of ATMs The ability to use/provide banking services remotely (not on the territory of the bank)
1970s The emergence of electronic trading platforms, exchanges (NASDAQ) Implementation of Internet technologies in the stock market
1990s Fintech emerges The emergence of projects competing with the services traditionally provided by banks
2000s Digitalization of the financial system Mass adoption of Internet technologies and digital innovations
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