Digital transformation has become one of the most significant developments in the banking and financial services sector. The integration of digital technologies such as artificial intelligence, cloud computing, blockchain, and big data analytics has transformed traditional banking systems into efficient digital platforms. These technologies enable financial institutions to provide faster, secure, and customer-centric services. The objective of this study is to examine the role of digital transformation in banking institutions, analyze its impact on operational efficiency and customer experience, and identify the challenges faced by banks during the digitalization process. The study is based on secondary data collected from academic journals, banking reports, and government publications. The findings indicate that digital transformation improves service efficiency, enhances financial inclusion, and increases customer satisfaction. However, financial institutions must address cybersecurity risks, regulatory challenges, and technological adaptation to fully realize the benefits of digital transformation. The study concludes that continuous innovation and investment in digital infrastructure are essential for the future growth of the banking sector.
Krishna Dhondiba Mitkar (Mon,) studied this question.
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