Current state of digital transformation of russian banks
https://doi.org/10.26425/1816-4277-2020-10-131-137
Abstract
The paper presents current state of digital transformation of Russian banks. The author defines the digitalization of banks as the introduction of FinTech technologies, close cooperation with Fintech-companies. Digitalization has both positive and negative consequences: cyber risks are growing, financial stability is decreasing. The analysis allowed the author to draw conclusions that the digital transformation of Russian banks is characterized by: the complex implementation of BCBS scenarios and the interaction between banks and Fintechcompanies, the emergence of neo-banks; increased competition in the banking sector; innovative opportunities for the production and sale of banking services and products, the emergence of new risks; accumulation and use of large amounts of data; the need to significantly change the information systems of banks (growth in demand for the services of IT companies); the emergence of ecosystems in which non-banking organizations are actively involved; large costs of Russian banks, which, as a rule, leads to an improvement in their financial results (as a result, medium and small banks begin to lose in the market).
Keywords
bank,
Bigtech-company,
Fintech,
Fintech-company,
digital platform,
digitalization,
ecosystem,
neo-bank
About the Author
S. S. Matveevskii
Financial University under the Government of the Russian Federation
Russian Federation
Russian Federation
Matveevskii Sergey Candidate of Technical Sciences
Moscow
References
1. Rasporyazhenie Pravitel`stav Rossiiskoi Federatsii ot 28.07.2017 № 1632-r “Ob utverzhdenii programmy “Tsifrovaya ekonomika Rossiiskoi Federatsii” [Order of the Government of the Russian Federation “On Approval of the Program “Digital Economy of the Russian Federation” No. 1632-r, dated on July 28, 2017]. Ofitsial`nyi sait Pravitel`stva Rossiiskoi Federatsii [Official website of the Govwernment of the Russian Federation]. Available at: http://static.government.ru/mediafiles/9gFM4FHj4PsB79I5v7yLVuPgu4bvR7M0.pdf. (accessed 15.08.2020).
2. Abramova M. A., Avis O. U., Advokatova A. S. et al. Novye traektorii razvitiya finansovogo sektora Rossii [New trajectories of development of the financial sector in Russia]. Moscow, Kogito-Tsentr, 2019. 368 p.
3. Bankovskie informatsionnye sistemy i tekhnologii: uchebnik [Banking information systems and technologies: textbook], pod red. O.I. Lavrushina, V.I. Solov’eva. Moscow, KnoRus, 2020. 528 p.
4. Didenko V. Yu., Morozko N. I. Osnovnye trendy razvitiya industrii finansovykh tekhnologii [The main trends in the development of the financial technology industry]. Moscow, KnoRus, 2018. 176 p.
5. Sovremennye bankovskie produkty i uslugi: uchebnik [Modern banking products and services: textbook], pod red. O.I. Lavrushina. Mosco, Knorus, 2020. 302 p.
6. Osnovnye napravleniya razvitiya finansovykh tekhnologii na period 2018–2020 godov [The main directions of development of financial technologies for the period 2018-2020]. Bank Rossii [Bank of Russia]. Available at: https://cbr.ru/Content/Document/File/84852/ON_FinTex_2017.pdf (accessed 15.08.2020).
7. Ofitsial’nyi portal Finnopolis 2019 [Official portal Finnopolis 2019]. Available at: http://finopolisforum.bizconf.rbc.ru/2019/fintech (accessed 15.08.2020).
8. Ofitsial’nyi sait Banka Rossii [Official website of the Bank of Russia]. Available at: https:cbr.ru (accessed 15.08.2020).
9. Pandemiya COVID-19 sdelala tsifrovuyu transformatsiyu neotlozhnym prioritetom dlya bankov [COVID-19 pandemic has made digital transformation an urgent priority for banks]. BCG. Available at: https://www.bcg.com/ru-ru/press/21apr2020-covid-19-pandemic-makes-digital-transformation-priority-for-banks (accessed 15.08.2020).
10. Razvitie bankovskoi otrasli posle koronavirusa [Development of the banking industry after the coronavirus]. Bankovskoe obozrenie. Available at: https://yandex.ru/turbo/s/bosfera.ru/bo/partnerskiy-banking (accessed 15.08.2020).
11. Fintekh 2019. Godovoe issledovanie rynka finansovykh tekhnologii v Rossii [Fintech 2019. Annual survey of the financial technology market in Russia]. Bloomchain. Available at: https://bloomchain.ru/Fintech2019.pdf (accessed 15.08.2020).
12. Tsifrovaya transformatsiya rossiiskikh bankov [Digital transformation of Russian banks]. TAdviser. Available at: www.tadviser.ru/index.php/Статья:Цифровая_трансформация_российских_банков (accessed 15.08.2020).
13. Tsifrovye tekhnologii v rossiiskikh kompaniyakh. Rezul’taty issledovaniya [Digital technologies in Russian companies. Research results]. KPMG. Available at: https://home.kpmg/ru/ru/home.html (accessed 15.08.2020).
14. Accelerating reinvention with digital banking frameworks. IBM Institute for Business Value. Available at: https://www.ibm.com/downloads/cas/YDOWYKYG (accessed 15.08.2020).
15. Carbo-Valverde S. The impact on digitalization on banking and financial stability. Journal of Financial Management Markets and Institutions, 2017, vol. 5, no. 1, pp. 133-140.
16. Matveevskii S. S., Berdyshev A. V., Prokofiev M. N., Ryabchenko L. I. Fintech in the banking system of Russia: problems and prospects. GCPMED 2018 – International Scientific Conference “Global Challenges and Prospects of the Modern Economic Development”. Samara, December 6-8, 2018. Future Academy, 2019, pp. 344-356.
17. Philippon T. The fintech opportunity. Working paper. New York University, Stern School of Business, 2018. Available at: http://pages.stern.nyu.edu/~tphilipp/papers/FinTech.pdf (accessed 15.08.2020).
18. Sound practices: Implications of fintech developments for banks and bank supervisors. BIS. Available at: https://www.bis.org/bcbs/publ/d431.htm (accessed 15.08.2020).
Review
For citations:
Matveevskii S.S. Current state of digital transformation of russian banks. Vestnik Universiteta. 2020;(10):131-137. (In Russ.) https://doi.org/10.26425/1816-4277-2020-10-131-137
Views:
825
Email this article 