INTRODUCTION OF DIGITAL IDENTIFICATION SYSTEMS IN THE BANKING SECTOR OF UZBEKISTAN AND THE LEGAL ENVIRONMENT

Abstract

Today, digital technologies are deeply penetrating all aspects of our lives. In particular, the finance and banking sector is at the center of digital transformation, creating new opportunities to improve the quality of services, create convenience for customers, and ensure security. Digital identification systems play an important role in the banking sector in reliably and quickly identifying customers and safely carrying out financial transactions. The banking sector of Uzbekistan is also actively participating in this process and expanding the introduction of modern digital identification tools. Digital identification systems allow for quick and accurate identification of customers, which helps to increase the speed and quality of banking services. Unlike traditional identification methods, digital systems use biometric data, electronic passports, mobile applications, and other digital tools. This creates convenience for customers and increases the level of security for banks. Digital identification also increases the ability to prevent fraud and illegal transactions. The banking sector of Uzbekistan has been making significant progress in introducing digital identification systems in recent years. This article analyzes the use of digital identification systems in the banking sector, their advantages, emerging challenges, and the legal environment.