Theoretical analysis of innovative strategies for improving competitiveness in the baking sector

Abstract

The banking sector operates under technological turbulence and geopolitical instability. It devalues traditional competitive advantages: scale, branch networks, cheap funding, and foreground a bank’s ability to adapt and deliver a unique customer experience. 

The propose of the study is to systematize theoretical concepts of innovative strategies for enhancing banking competitiveness and to identify the most promising directions of their implementation in the Russian market. The methodology combines dialectical cognition, content analysis of scholarly works, Bank of Russia reports and industry conference materials of the past four years, and a systemic approach to technological, market and organizational factors of competitiveness. 

It is shown that in the digital economy competitiveness shifts from the product line toward ecosystems and data management, while Porter’s five forces are complemented by inter-ecosystem competition. Technological (artificial intelligence, open banking, BaaS, central bank digital currencies), organizational and managerial (Agile, cross-functional teams, fintech alliances) and marketing (hyperpersonalization) innovations are systematized, and five groups of innovation risks are classified. Particular attention is paid to the Russian banking sector under sanctions pressure and the imperative of technological sovereignty. 

Further research will empirically verify the framework on Russian banks and develop a quantitative model linking innovation strategies to competitiveness indicators.