The Digital Transformation of the Banking Sector in the Republic of Moldova: Challenges and Opportunities

Abstract

The digital transformation of the banking sector in the Republic of Moldova represents a crucial step toward modernizing financial services and enhancing customer experience. This research examines the level of digitalization in the Moldovan banking sector by analyzing key innovations such as payment cards, internet banking, mobile banking, contactless payments, artificial intelligence, and open banking. The study employs quantitative analysis, as well as the methods of induction and deduction, to evaluate the current state, challenges, and opportunities of digital banking in Moldova. The findings highlight the rapid adoption of digital banking solutions, driven by technological advancements and changing consumer behaviors, while also addressing regulatory challenges and security concerns. The study concludes that further investment in digital infrastructure and financial literacy is essential for fostering a more efficient and inclusive banking system. CZU: [004.78+004.8]:336.71(478); JEL: G21, O33