IMPROVING USE OF REMOTE BANKING SERVICES IN UZBEKISTAN

Аннотация

The article shows the problems of the development of digital banking in Uzbekistan, as well as specific recommendations. Кeywords: Digital Bank, interactiveanalysis, remotebanking product. "Strategy for the reform of the banking system of the Republic of Uzbekistan for 2020-2025" approved bythe Decreeof thePresident oftheRepublic ofUzbekistan dated March 2,2020No. . The document defines the goals, tasks and priority areas of the development of the banking system, the directions of transformation and reform of the banking system in2020 - 2025,ways to search for possible solutions based on the experience of transforming the financial sector of foreign countries and taking into account world trends in the financial sector. Effective ways of improving the quality ofbanking services incommercial banks have beendetermined. Mobilebanking is themost advanced andpopular method of providing new bankingservices by commercial banks. Mobile banking is a modern way of using banking services through a mobile phone (smartphone) using the Internet. This method allows users of banking services to manage theirbank account remotely and provides almost all internet banking operations. With thehelp ofmobilebanking, the client has thefollowing options: ▪ monitorthe statusofbank cards (credit, debit, etc.); ▪mobileand landlinephoneservices, ▪ making payments for internet providers, utility, cable and digital television services without intermediary fees; ▪ conducting onlineconversion practices; ▪ makingtransfers from card to card; setting upautomaticexecution oftransactions -payments onaccount or oncertain dates; ▪ gettinginformation about the receipt offunds in thebank account; ▪get information about thetransactions madethrough abankcard; ▪ makingpurchases inonlinestores; extinguish loans, ▪ addingfunds todeposits; getting aloan; ▪receivingand sending money transfer; ▪ Paying YHXBB fines; opening a bank card; ▪blockingand unblocking abank card; ▪ payment ofinterest ondeposits toabank card; ▪ extendingthevalidityperiod ofthe bankcard; ▪ makinginternational moneytransfers in different currencies through themobileapplication. To use mobile banking services, the client must first open a bank account, that is, a card account (bank card). For this, it is necessary to visit the bank (or remotely), fill out the necessary documents, and download thecorresponding application to themobilephone viatheInternet.. Mobile applications may be offered by banks or payment organizations. If the mobile application and the bank card belong to the same bank, it is possible to be exempted from small brokerage fees 168 INTERNATIONAL MULTIDISCIPLINARY JOURNAL FOR RESEARCH & DEVELOPMENT SJIF2019:5.2222020:5.5522021:5.6372022:5.4792023:6.5632024:7,805 eISSN:2394-6334 https://www.ijmrd.in/index.php/imjrd Volume12,issue04(2025) when carrying out transactions through this application. For example, there are commissions for transferring funds from one card to another or withdrawing cash. In general, the commission does not exceed 1%. If the application is installed on the smartphone, it is enough to go through authorization in this application with abank card, that is, itis necessary to enter the information requested about thebank card in theapplication.. For authorization, it is necessary to enter the information on the front of the card (name of the card holder, individual card number and card validity period). Then it is necessary to confirm the increased authorization using the code received by the bank's SMS message. After that, it is important to set a password (PIN code) to access the application and remember it, in case of theft or loss ofthephone, thesecurity offunds is provided bythis password. Multiple cards can be registered in one application. This allows you to easily switch from one card toanother in theapplication itselfand make apayment with thedesired card. Each mobile banking app has a different design and menu, but that's not a problem because they're so easy to use. The menu consists mainly of sections according to the operations desired by the user (transfers, payments, etc.). First of all, you need to enter the card information in the application, after which you can makepayments. As soon as you perform any banking operation through mobile banking, an SMS message about the operation willbe sent to thephonenumber registered in theapplication. Advantages ofmobilebanking: ▪Using banking services remotely through a mobileapplication; ▪ Savingtime; ▪Works24hours aday. Disadvantages of mobilebanking: ▪Theft orloss of amobilephone; ▪Low level of account security. The Decree of the President of May 12, 2020 on the "Strategy for the reform of the banking system of theRepublic of Uzbekistan for the years 2020-2025" also requires the careful adoption of modern technologies to establish remote banking services, the identification of new types of services and products, studying foreign best practices and increasing the popularity of banking services