FINANCIAL CONTROLLING IN THE CONTEXT OF DIGITAL TRANSFORMATION OF BANKING PROCESSES: CHALLENGES AND PROSPECTS

Abstract

This article explores the transformation of financial controlling in the banking sector under the influence of digital technologies, focusing on the growing need for adaptability, real-time responsiveness, and data-driven decision-making. As banks increasingly operate in environments defined by algorithmic processes, open platforms, and the constant flow of financial data, traditional control models—centered on retrospective analysis and periodic reporting—prove inadequate. The digitalization of banking processes requires a shift toward integrated controlling systems that combine artificial intelligence, big data analytics, and process automation to deliver continuous monitoring, predictive forecasting, and risk-based evaluation. These systems support decision-making at both strategic and operational levels, ensuring transparency, regulatory compliance, and proactive resource management. Special attention is given to the challenges of implementing such models, including data protection, cybersecurity, alignment with regulatory frameworks, and the necessity of redefining KPIs to reflect digital performance standards. In addition, the success of digital controlling systems depends on organizational flexibility and the ability to reconfigure roles and responsibilities within the bank to accommodate new analytical capabilities. The article introduces a conceptual framework of digital financial controlling tailored to the needs of modern banking institutions. It emphasizes the role of intelligent control mechanisms in strengthening financial governance, enhancing adaptability to external risks, and supporting strategic sustainability in a fast-changing environment. Digital controlling is presented not merely as a technological upgrade, but as a rethinking of the entire logic of financial oversight—where information systems become sources of insight, and controlling transforms into a dynamic interface between data, management, and strategic direction.