BANKING IN THE DIGITAL AGE: ISSUES AND CHALLENGES
The success of each bank is based on its ability to meet the needs of its customers by offering excellent services or quality products. The digital age means new challenges, but also new opportunities for central banks. They must preserve public confidence in fiat currencies without falling behind an economy based on new technologies, sharing and decentralized services. Offering multiple services to customers via a mobile application or setting up interactive websites would allow the bank to gain in efficiency and ensure a lasting relationship with its customers. In this context, it becomes imperative for banks to develop and execute digital transformation plans to meet the changing needs of the market. Nevertheless, these banks face a number of challenges to implement a digital transformation plan.
Keywords: Digitalization, Central Bank, Challenges, Competition, Monetary Policy