Digitalisation of Banking: Balancing Convenience, Security, and Inclusion
DOI:
https://doi.org/10.51699/economics.v38i1.276Keywords:
Sustainable Tourism, Employee Training, Hospitality Industry, Logistic Regression, UNWTOAbstract
Digitalisation of the banking sector has rapidly advanced leading to sophisticated digitised services replacing traditional banking systems. This paper aims to examine the opportunities and threats of introducing the usage of digital banking through considering convenience, operation efficiency, security issues, and financial inclusion. Indeed, prior literature provides an optimistic view of digital banking, but the research on barriers to its uptake is still limited, especially in the developing context of Uzbekistan. The participants involved 100 individuals within the Uzbekistan population, and a 20 items Multiple-Choice Questionnaire for convenience, security, customer feel, and digital competence. Qualitative variables were analyzed using logistic regression analysis to determine the factors affecting the adoption of digital banking. Likelihood to adopt digital banking is significantly influenced by convenience and digital literacy; users’ perception is that digital banking is faster and more convenient. However, issues that are religious to security, for instance identity theft and data loss act as key inhibitors to the uptake of MOOCs among students. Other factors include; Age and digital literacy where younger generation and those in the technology centurion are most likely to adopt digital banking. Outcome reveal that digital divide is prevalent after a period; it was noted that rural areas of the country was challenged due to low literacy on the internet and the access to the same. The study suggests further call for specific educational campaigns for raising awareness about digital assets and developing more effective security tools for increasing confidence. The government needs to work to reduce infrastructure inequalities for this kind of access to be achieved. Therefore, it is possible for Uzbekistan to adopt digital banking initiatives for financial inclusive operations and enshrine more security to its organizations through the stabilization of these strategies. These findings can help banking institutions and regulatory authorities in need of getting a better understanding of the mechanisms of attaining a high level of digital transformation’s efficiency.
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