Sustainable development of Kazakhstan's banking sector in the context of digital transformation

Abstract

The purpose of the study is to identify factors contributing to the further development of financial markets in the context of the worsening processes of financial globalization and integration, which have a contradictory impact on economic development, accompanied by an increase in internal contradictions of the financial system, an increase in systemic risks and the emergence of crisis phenomena. In this context, it is necessary to develop a sustainable financial market as a basis and mechanism for ensuring the stability of the financial system.

The article substantiates the importance and identifies the factors of innovative economic development, among which special importance is attached to digital technologies and their impact on the development of a stable financial system; discusses the problems of regulating international financial markets, the role and importance of the banking system in the financial market.

The digital transformation of the financial market entails not only opportunities, but also risks such as cybersecurity and financial bubbles. For sustainable development, it is necessary to regulate new technologies, ensure data protection and cooperate internationally. In the digital economy, financial institutions face challenges and opportunities to improve the quality of services. It is important to take effective measures to ensure the stability and security of the financial market.