DEVELOPMENT OF THE BANKING SECTOR AND PROBLEMS OF COMPETITIVENESS (BY THE EXAMPLE OF ARARATBANK OJSC)

Abstract

The relevance of the study is dictated by the constant growth of competition in the banking sector due to the development of digital technologies and the possibility of remote customer service, which allows large international financial institutions and banks with foreign capital to enter national markets. Digitalization, as one of the factors in the external environment of an enterprise, on the one hand, opens up huge opportunities for the development of banking activities; on the other hand, it is also a challenge for small banks with limited financial and technological resources, as it requires the investment of significant investment and intellectual resources. The paper uses modern tools for analyzing the competitive environment. As a result of the study, the main provisions of the theory of innovative development were integrated into the technology for analyzing the competitiveness factors of Arartbank OJSC.