Impact of digitalization on credit institutions: risk assessment and prospects

the article examines the impact of digitalization on credit institutions, analyzing key risks and prospects for the transformation of the banking sector. The study aims to identify factors contributing to successful digitalization while assessing potential threats associated with the implementation of financial technologies. The research analyzes current trends, including the development of fintech, adoption of artificial intelligence, formation of banking ecosystems, and growing cyber risks. Particular attention is given to challenges faced by Russian banks, such as shortages of IT specialists, outdated infrastructure, and regulatory uncertainties in digital technologies. The practical significance of the study lies in developing recommendations for optimizing digital transformation processes for credit institutions. The findings can help banks improve innovation implementation efficiency and assist regulators in enhancing the legal framework. As a promising direction for future research, the author highlights studying digitalization's impact on financial stability and the development of the digital economy as a whole.

digitalization, banking operations, Open Banking, financial stability, digital transformation, financial technologies, FinTech