Analysis and main digital bank development directions in Russia

Abstract

Digital technologies are rapidly penetrating the banking sector, making it more flexible, mobile and able to meet the changing needs and preferences of customers under the influence of the digital transformation of the economy. In the current situation, banks have to invest a significant amount of funds in the development of innovations in order to remain in demand in the market. This requires banks not only to change the way they provide services and build communications with customers, but also to qualitatively restructure business processes, methods and approaches to their management. The main purpose of the study is to analyse the features of the formation and development of digital banks in Russia, identify their main types and characterise the main groups of business models. During the study, special attention was paid to the factors contributing to the success of the implementation of the bank’s digital business model. The use of clustering methods, comparative analysis made it possible to distinguish 5 groups of digital banks based on the identity of the operations performed. A comparative analysis of the performance indicators of leading traditional credit institutions and wellknown digital banks has been made. The indicator “return on equity (ROE)” was used as the main indicator for comparative analysis. As the study showed, digital banks were the leaders in terms of high ROE. It article are made about the further trend in the development of digital banks towards the creation of their own platforms and ecosystems, with the observed trend of gradual blurring of the lines between traditional and digital banks.