SHS Web Conf.
Volume 93, 20213rd International Scientific Conference on New Industrialization and Digitalization (NID 2020)
|Number of page(s)||8|
|Section||Countries, Regions, Cities in the Process of New Industrialization and Digitalization|
|Published online||12 January 2021|
Problems and Prospects for the Development of the UK Banking System in the Process of New Industrialization and Digitalization
Ural State University of Economics, 620144 Yekaterinburg, Russia
* Corresponding author: firstname.lastname@example.org
The gist of this article boils down to the development of British banking system in the conditions of new industrialization and digitalization. The banking system of Great Britain is characterized by a high degree of concentration and specialization of banking, a well-developed banking infrastructure, and a close connection with the international loan capital market. London is the world's oldest financial center. The English banking system has the world's widest network of overseas branches. The UK banking system is relatively independent from the credit systems of the European Union. Nevertheless, banking legislation is focused on the unification of banking law within the European Community and supervision of banking activities. In the context of the global financial crisis, the UK banking system, as in other countries, has been severely tested. The most important trend in the development of the UK banking system is the blurring of boundaries between certain types of credit institutions. The subject of the research is the UK banking system in the context of new industrialization and digitalization.
© The Authors, published by EDP Sciences, 2021
This is an Open Access article distributed under the terms of the Creative Commons Attribution License 4.0, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
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