Important Aspects of Developing Innovative Distance Banking Services in Uzbekistan

Authors

  • Tursunov Faridun Mustafoyevich Samarkand Institute of Economics and Service, Independent Researcher

DOI:

https://doi.org/10.51699/economics.v38i3.543

Keywords:

Remote Banking Services, Innovative Services, Internet Banking, Mobile Banking, SMS Banking, Bank-Client, Digital Bank, Chat-Bots, Blockchain, ATM, Plastic Card, Infokiosks, Ecosystem

Abstract

This article discusses the measures taken for the establishment of innovative remote banking services in the Republic of Uzbekistan, the theory of remote banking services and their origins, the importance of remote banking services in the activities of banks, development trends of remote banking services, the advantages and disadvantages of the system, and some issues that hinder the development of this system are studied during the research. Proposals and recommendations have been developed to find solutions to these problems. It highlights the role of digital transformation, technological infrastructure, regulatory support, and customer-centric approaches in shaping modern banking experiences. The study emphasizes the need for secure platforms, mobile integration, and financial inclusivity to meet the evolving demands of customers. Moreover, it assesses challenges such as cybersecurity risks and digital literacy gaps. By analyzing current trends and global practices, the paper proposes strategic directions for enhancing remote banking services in Uzbekistan, aiming to foster a more efficient, accessible, and innovative financial ecosystem.

References

[1] Decree No. PF-5992 of the President of the Republic of Uzbekistan dated May 12, 2020, on the “Strategy for Reforming the banking system of the Republic of Uzbekistan for 2020 - 2025”.

[2] Lavrushin O.I. Banking Business. Educational Manual. - Moscow: Knorus, 2021. 358 pages.

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[10] 10.Tursunov F.M., Opportunities for Remote Banking Services to Grow in the Republic of Uzbekistan’s Commercial Banks // Galaxy International Interdisciplinary Research Journal - 2023, Vol .11 , No .11 , pp .4-7 p.

[11] V. K. Spilnichenko, “Transformation of banking payment systems in the Russian economy,” *Economic Journal*, no. 2 (26), pp. 56–64, 2012.

[12] Z. T. Mamadiyarov, *Development of distance banking services in commercial banks*, Ph.D. dissertation author’s abstract, Tashkent State University of Economics, Tashkent, Uzbekistan, 2019, p. 13.

[13] M. Rustamov, “Remote service systems and prospects for their further development,” *International Finance and Accounting*, no. 2, pp. 5–6, 2018.

[14] Z. T. Mamadiyarov, “Evolutionary development of distance banking services in the digital economy: considerations and analysis,” *Economics and Innovative Technologies*, no. 3, p. 14, 2020.

[15] Central Bank of the Republic of Uzbekistan. [Online]. Available: https://www.cbu.uz

[16] Ministry of Information Technologies and Communications of the Republic of Uzbekistan. [Online]. Available: https://www.mitc.uz

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Published

2025-05-07

How to Cite

Mustafoyevich, T. F. (2025). Important Aspects of Developing Innovative Distance Banking Services in Uzbekistan. Academic Journal of Digital Economics and Stability, 38(3), 147–153. https://doi.org/10.51699/economics.v38i3.543

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