THE ROLE OF OPEN BANKING AND FINTECH TECHNOLOGIES IN ENHANCING THE COMPETITIVENESS OF THE NATIONAL PAYMENT SYSTEM

Authors

  • Amonov Alisher Rajab o’g’li Автор

DOI:

https://doi.org/10.5281/zenodo.18439077

Keywords:

Open Banking, fintech technologies, national payment system, competitiveness, digital finance, financial innovation, interoperability, financial inclusion

Abstract

This article examines the role of Open Banking and fintech technologies in improving the competitiveness of national payment systems in the context of digital financial transformation. The study highlights how Open Banking principles, based on secure data sharing and interoperability through application programming interfaces (APIs), contribute to increased transparency, innovation, and market competition. Special attention is given to the impact of fintech solutions on operational efficiency, transaction speed, cost reduction, and financial inclusion. The analysis also emphasizes the importance of an effective regulatory framework in ensuring data security, consumer protection, and sustainable development of payment ecosystems. The findings demonstrate that the integration of Open Banking and fintech technologies transforms traditional payment infrastructures into dynamic, competitive, and consumer-oriented systems capable of meeting modern economic challenges

References

Abdullayev A. Digital transformation of the banking system in Uzbekistan and the development of fintech services. Tashkent: Banking and Finance Academy of the Republic of Uzbekistan, 2021.

2.Karimova D. Open Banking as a factor in increasing the efficiency of the national payment system. Tashkent: Economy and Innovative Technologies Research Center, 2022.

3.Lavrushin O. I. Modern banking technologies and payment systems. Moscow: KNORUS Publishing House, 2020.

4.Mirkin Ya. M. Fintech and digital finance: New challenges for national financial systems. Moscow: Magistr Publishing, 2021.

5.Babkin A. V. Digital platforms and fintech innovations in the financial market. Saint Petersburg: Peter the Great St. Petersburg Polytechnic University Press, 2022

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Published

2026-02-03

Issue

Vol. 2 No. 1 (2026): International Conference on Engineering & Technology (ICET)

Section

Статьи

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How to Cite

Amonov, A. (2026). THE ROLE OF OPEN BANKING AND FINTECH TECHNOLOGIES IN ENHANCING THE COMPETITIVENESS OF THE NATIONAL PAYMENT SYSTEM . International Conference on Engineering & Technology, 2(1), 51–53. https://doi.org/10.5281/zenodo.18439077