Digitization of the financial industry and its impact on the banking sector

Financijska industrija se mijena pod utjecajem digitalizacije. Digitalna transformacija je proces koji dovodi do razvoja novih inovativnih proizvoda i usluga te omogućuje korisnicima olakšani pristup njihovim uslugama. U Republici Hrvatskoj financijska industrija je doživjela razne promjene koje su joj omogućile daljnji razvoj i kvalitetno izvršavanje obaveza. S ciljem razvoja financijske industrije nastoji se potaknuti ulaganje u razvoj digitalne infrastrukture sa svrhom postizanja digitalnog oblika poslovanja i uvođenja novih proizvoda i usluga. Razne informacijsko komunikacijske tehnologije su tijekom godina omogućile razvoj gospodarstva. S pojavom virtualnog oblika poslovanja započelo je razdoblje digitalizacije i novih oblika proizvoda i usluga. Faze razvoja informacijsko komunikacijske tehnologije mogu se podijeliti na fazu razvoja Web 1.0 tehnologije, Web 2.0 tehnologije i Web 3.0 tehnologije. S njihovim razvojem omogućena je digitalna transformacija financijske industrije čime nastaju novi oblici poslovanja i postizanje konkurentske prednosti na tržištu. U sklopu digitalne transformacije dolazi do pojave inovacija u financijskoj industriji u koju se mogu uvrstiti razvoj FinTech tehnologije, blockchain tehnologije i digitalnog oblika novca, kriptovalute. Digitalna transformacija uvelike utječe i na bankarski sektor koji prati promjene na tržištu. U sklopu digitalnih promjena dolazi do razvoja elektroničkog bankarstva, mobilnog bankarstva i Internet bankarstva. S ciljem utvrđivanja upoznatosti korisnika s novim proizvodima i uslugama koje nudi moderna financijska industrija i bankarstvo provedeno je istraživanje koje je donijelo zaključke o tome da je među ispitanicima prisutno nedovoljno poznavanje proizvoda i usluga u digitalnom obliku, kako na području bankarstva tako i na području drugih financijskih institucija.The financial industry is changing under the influence of digitization. Digital transformation is a process that leads to the development of new innovative products and services and provides users with easier access to their services. In the Republic of Croatia, the financial industry has undergone various changes that have enabled it to further develop and fulfill its obligations ina quality manner. With the aim of developing the financial industry, efforts are being made to encourage investment in the development of digital infrastructure with the aim of achieving a digital formo f business and introducing new products and services. Over the years, various information and communication technologies have enabled the development of the economy. With the emergence of a virtual form of business, the period of digitization and new forms of products and services began. The development phases of information and communication technology can be divided into the development phase of Web 1.0 technology, Web 2.0 technology and Web 3.0 technology. With their development, the digital transformation of the financial industry is enabled, which creates new forms of business and achieves a competitive advantage on the market. As part of the digital transformation, there is the emergence of innovations in the financial industry, which can include the development of FinTech technology, blockchain technology and the digital form of money, cryptocurrency. Digital transformation alsogreatly affects the banking sector, which follows changes in the market. As part of digital changes, electronic banking, mobile banking and Internet banking are developing. With the aim of determining the recognition of users with new products and services offered by the modern financial industry and banking, a research was carried out, which included that there is insufficient knowledge of products and services in digital form among the respondets, both in the field of banking and in the field of other financial institution