Analele Universităţii Constantin Brâncuşi din Târgu Jiu : Seria Economie (Dec 2023)
DIGITIZATION OF THE FINANCIAL-BANKING SYSTEM
Abstract
The main purpose of this paper is to analyze the phenomenon of digitization in financial-banking institutions, and how entrepreneurs active in various fields of activity have turned to digitization to continue their activities despite the restrictions imposed by the Covid-19 pandemic. We can say that digitisation is the future, because it doesn't just help us in times of pandemic or other crisis situations, digitisation is the future of the banking industry, because consumers want to work with banks that can offer remote and quality services, and all categories of customers want to work with those companies that find innovative solutions and can provide them with services through technology. Bankers and entrepreneurs need to find a balance between legislation and market regulation, between risk management and consumers. We can say that the future belongs to digitised, standardised banks that understand and comply with legislation and regulation and that place a high value on innovation. We can talk about the era of digitisation as having been accelerated by the pandemic, which is why a lot of measures have been taken to make information as easy as possible, with all banks, as well as other companies and financial-banking institutions, strengthening their websites and solutions for remote access to their banking offer or banking products, such as applications (banking). A good number of banks already offer the possibility to get basic products directly from websites or apps: current account opening, debit cards, credit or shopping cards, personal loans and even deposits. A secure and risk-free digital solution is certME. With the certME solution, customers no longer need to be physically present at the counters and interact with their own staff for the identification processes specific to digital onboarding and Know Your Customer procedures, enjoying many advantages.
