INFORMATION TECHNOLOGIES AND THEIR USE IN FINANCIAL AND CREDIT MARKETS

Abstract

Nowadays, important changes are observed in all spheres of human activity. These changes relate to the widespread adoption of technologies that fit into a completely new concept of digitalization. Most countries of the world and areas of activity, including economy, are involved in the digitalization processes. In the process of digitalization of the economy, banking organizations play significant role, and, in the face of increased competition in the market, they are forced to constantly improve their activities and introduce the most advanced technologies for implementing business processes and working with clients. One of the most modern technologies is Big Data, which is a combination of technologies aimed at processing huge amounts of data, the ability to process quickly incoming data in large volumes and structuring this data according to various aspects and attributes. Every day, large number of customers make thousands of transactions in banking organizations, which creates large amounts of data for analysis. Based on these data, banks can take management decisions that can fundamentally change the effectiveness of the bank in the market. That is why the study of key success factors in the development of technologies for working with big data in banking organizations is especially topical today.