The digital transformation of banking constitutes one of the greatest advances in recent years. At an international level, the digitalization of all processes is unstoppable, including the application of state-of-the-art technologies and the implementation of software to optimize their operations. The digital transformation of banking is, first and foremost, an obligatory step in the financial system. The banking system in the Republic of Moldova is at an early stage, in the process of digitization of banking activities, a situation that can be an advantage, giving commercial banks in our country the opportunity to find and implement solutions that have proven viable in the case of other credit institutions, respectively to research and identify much more deeply the needs of the customers from the Republic of Moldova, in close correlation with its specific economic, cultural and social realities. The aim of the research is to analyse the opportunities and challenges in development of the digital banking in the Republic of Moldova. This presumes a vast investigation of banking innovations that have been implemented in the service activity and their influence in the daily bank management. Furthermore, one of the main purposes of the research is to underline the importance of the digitalization in the banking sector, especially in the current COVID-19 era.