Multidisciplinary Journal of Science and Technology

DIGITAL BANKS: COMPETITORS OR PARTNERS TO THE TRADITIONAL BANKING SYSTEM?

Namozov Bekjon

Master's student at the University of World Economy and Diplomacy, Uzbekistan

Abdukhalimova Marjona

3rd year student of the Faculty of Economics and Management Karshi State Technical University, Uzbekistan

Keywords: Digital banks, traditional banking system, digital economy, fintech, banking services, banking system transformation, banking sector in Uzbekistan, digital technologies, financial innovations.

---

Abstract

This article examines the impact of digital banks on the traditional banking system, focusing on whether they act as competitors or partners. It highlights the main features and advantages of digital banking, including speed, convenience, and cost efficiency, as well as the challenges faced by traditional banks in adapting to technological change. The study also explores the growing competition driven by customer preferences, particularly among younger users, and emphasizes the role of collaboration between fintech companies and traditional financial institutions. The findings suggest that rather than completely replacing traditional banks, digital banks contribute to the modernization and increased efficiency of the banking sector through integration and innovation.

---

References

1. Pardayeva D. M. Raqamli iqtisodiyot tushunchasi va uning rivojlanish bosqichlari // The Multidisciplinary Journal of Science and Technology. – 2023. – Vol. 5, Issue 6. – B. 1136–1139

2. Raxmonov I. X., Primova M. Raqamli bank xizmatlarining rivojlanishi va uning an’anaviy banklarga ta’siri // Iqtisodiyot va zamonaviy texnologiya jurnali. – 2025. – Vol. 4, Issue 5.

3. O‘zbekiston Respublikasi Prezidentining 2020-yil PF-5975-son Farmoni. “Raqamli iqtisodiyotni rivojlantirish bo‘yicha qo‘shimcha chora-tadbirlar to‘g‘risida”. – Toshkent: O‘zbekiston Respublikasi qonun hujjatlari to‘plami, 2020.

4. Abdullaev Y., Rustamov D. Raqamli bank xizmatlarining O‘zbekistonda rivojlanish istiqbollari // Iqtisodiyot va ta’lim. – 2021. – №4(22). – B. 45–52.

5. Qosimova Sh. K. Raqamli bank xizmatlarining an’anaviy bank tizimiga ta’siri: O‘zbekiston banklari misolida.

6. Durumboyev P. Raqamli banklar va an’anaviy banklar raqobati: O‘zbekiston bank tizimining kelajagi // Ilm fan xabarnomasi. – 2024. – №9. – B. 364–367.

7. Avezov M. K. Raqamli bank xizmatlari va uning afzalliklari // Scientific Progress. – 2022. – Vol. 3, Issue 2. – B. 808–810.

8. Isaev A. J. Raqamli iqtisodiyot sharoitida pul shakllarining o‘zgarishi // Xalqaro ilmiy-amaliy konferensiya materiallari. – 2024. – B. 316–319.

9. O‘zbekiston Respublikasi Markaziy banki. Bank tizimi statistik ma’lumotlari (2018–2023 yillar). – Toshkent, 2024.