THE ROLE OF ONLINE AND MOBILE BANKING IN THE DIGITAL TRANSFORMATION OF THE BANKING SECTOR

Authors

  • Nabiyev Nasimbek Shuhratjon o’g’li Author
  • I.Sulaymonov Author

Keywords:

digital banking; mobile banking; financial inclusion; fintech; banking transformation; Uzbekistan; online banking; cost efficiency

Abstract

This article investigates the transformative role of online and mobile banking in reshaping the global banking sector (2018–2023). Drawing on data from the World Bank, Statista, and McKinsey & Company, the study demonstrates that mobile banking users grew from 1.2 billion in 2018 to 3.6 billion in 2023 — a 200% increase. The findings show that digital banking reduces transaction costs by up to 96% compared to branch banking, accelerates financial inclusion in developing economies, and drives significant efficiency gains for commercial banks. The paper also identifies major challenges: cybersecurity threats, the digital divide, and regulatory gaps. Conclusions are supported by statistical tables, trend analysis, and a focused case study of Uzbekistan's banking digitalisation.

Author Biographies

  • Nabiyev Nasimbek Shuhratjon o’g’li

    Student of Finance faculty at

    Tashkent State Universty of Economics

  • I.Sulaymonov

    Teacher of

    Corporate Finance and Securities Department at TSUE

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Published

2026-04-15

Issue

Vol. 48 No. 2 (2026): Modern education and development

Section

Articles