Financial digital inclusion an appropriate framework for implementation of innovations in the banking sector of the Republic of Moldova

Abstract

Digital revolution is changing the business environment and banking sector is no exception. The development of the digital economy of highly developed countries accelerates the need for increased digital financial inclusion and digital literacy as well. From a banking perspective, digital financial inclusion aims to engage the population in the digital financial system by offering digital products and services through accessible digital channels, which would facilitate secure digital financial management. Analyzing the specialized literature, were defined the three indicators of measure of digital financial inclusion: access to financial digital services, usage of financial digital services and quality of the digital products and service delivery. The purpose of current research is to study the degree of financial digital inclusion of the banking sector of the Republic of Moldova and the as a precondition for implementation of innovations in the context of digitalization processes in the Republic of Moldova. The specific objectives for achieving the research goals are: to analyze the factors that have accelerated the digital transformation in the banking sector; to study and establish new banking products and services in the Moldovan banking sector; to study the process of implementing innovations in close connection with digital transformation in the Republic of Moldova and at international level; to study and determine the deficiencies and prospects in the implementation of innovations in the banking sector in the Republic of Moldova.