This article analyzes the role of commercial banks in the modern economy, particularly the importance and development trends of retail banking services. Using Uzbekistan as a case study, it examines the broad reforms aimed at modernizing retail banking, including the implementation of digital technologies, expansion of remote services, and introduction of innovative financial products. It also explores existing challenges such as low financial literacy, regional disparities, technical limitations, and security concerns. Additionally, the article outlines the historical evolution of banking services, their integration with modern technologies, and potential future developments driven by artificial intelligence, blockchain, and open banking principles.

commercial banks, retail banking services, financial services, digital technologies, mobile banking, electronic payment systems, Fintech, financial literacy, banking reforms in Uzbekistan, artificial intelligence, blockchain, open banking.

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