INNOVATION MANAGEMENT IN COMMERCIAL BANKING: FORMATION, DEVELOPMENT AND DIGITAL TRANSFORMATION AT ALOQABANK JSCB
Keywords:
Keywords: innovation management, digital transformation, banking sector, Aloqabank, Zoomrad, open innovation, Agile, artificial intelligence, financial ecosystem, Uzbekistan.Abstract
ABSTRACT
Background: Digital transformation is reshaping the competitive landscape of
the banking sector globally, including in Uzbekistan. Innovation management has
become a strategic necessity for commercial banks seeking to sustain competitiveness.
Methods: The study employs SWOT analysis, comparative financial
benchmarking, structural-functional analysis, and review of official Aloqabank reports
(2021–2026). Frameworks include the Oslo Manual (OECD, 2018), ISO 56000, and
international fintech research.
Results: Key systemic barriers in Aloqabank's innovation management were
identified: hierarchical rigidity, technological debt, limited AI integration, and
insufficient digital competency. A multi-pillar improvement model is proposed.
Conclusions: Systematic development of innovation management is a
prerequisite for Aloqabank's transformation into a modern technological financial
platform. The proposed model targets active Zoomrad user growth to 5.5–6.0 million
(+51–64%) and CIR reduction to 35–38% by 2027–2028.
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