Proceedings of the International scientific and practical conference ―Synergy of Modern Science and Education‖ (February 2-4, 2026) / Publisher website: www.naukainfo.com. – New York, USA, 2026. - 324 p.

36 revolutionizing payments, lending, investments, insurance, and other financial products and services [3, p. 13]. And another author, in his work, places the emphasis of fintech on the concept of digital banking, noting that the fight for the future of banking is entirely about data [4, p. 13]. Fintech today encompasses five main areas: finance and investments, operations and risk management, payments and infrastructure, data security and monetization, and customer interface [5]. It is noteworthy that in the above five main areas, in addition to processes related to financial activities, risks and data security have found their place. Commercial banks of Armenia are focused on the introduction of innovative financial technologies, which is clear from the digital data characterizing the sector, which relate to the download of applications, the spread and movement of digital cards and, consequently, electronic payment systems, and the circulation of electronic money. Almost all of the above indicators have continuously grown in recent years, recording quite high results, which speaks of the high level of involvement of banks in the process of introducing innovative financial technologies. Currently, all commercial banks in Armenia have mobile applications, the total number of downloads of which exceeds 2 million. This indicates that customers show high interest in mobile banking services, especially when it comes to 24/7 access. Along with the introduction of mobile banking, a number of innovative opportunities have also been created that allow using various banking services online via a mobile application. About 9 banks have already implemented an online lending system, the basis of which is an automated decision-making system. This innovative solution reduces the time for making decisions on loan rejection and approval, making the loan granting process faster and simpler. The automated system is able to analyze the client‘s credit history, income and other indicators, depending on the individual calculation system, determine the score and then make decisions on lending without direct intervention by bank employees. Several banks already offer a payment option using the ―Buy now, pay later‖ mechanism, which allows customers to pay the full