This article analyzes financial engineering from the point of view of its place and role in the development and optimization of the banking system, including from the perspective of increasing the efficiency of its activities. As a methodological basis, a set of general scientific logical and heuristic methods was used - analysis and synthesis, induction and deduction, the principle of interdependence; as well as a comparative method that allows a comparative study of economists regarding the concept of "financial engineering". Also, this article mentions the need to use financial engineering products and tools in banking, as they allow increasing liquidity, reducing activity risks and attracting new customers. The impediments to the development of financial engineering in the banking system of the Republic of Moldova are determined.