Abstract
Digital trading apps are evidence of developing open innovations in the financial sector. The investment industry (including banks and brokers) can greatly benefit from the utilization of digital trading applications and corresponding tools, such as smart contracts. The goal of this research paper is to examine the possibility that brokers’ existing mobile apps outperform banks without mobile apps in the Russian financial sector. The efficiency of brokers is compared to banks in Russia. The results of these institutions’ activities are related to the number of profitable banks, which declines as a sign of high efficiency. The paper uses methods of t-test, linear and polynomial regression analysis between assets (dependent variable) and the profit to assets (independent variable) in Russia. The article finds the different directions of the utilization of the discussed technology, and they all share the consequential growth after the technology’s introduction. The paper also discusses the various areas of digital trading apps implementation and the future contributions for the Russian banking system and economy.
Highlights
The market of financial services provides clients with access to taking loans, depositing funds and reserves, as well as investing into the stock market or the market of securities in general
The paper tests the hypothesis that brokers with existing mobile apps outperform banks without mobile apps in the financial sector
Our research paper uses an aggregate dataset from the Bank of Russia [22] and Markswebb [23]: brokers’ assets, banks’ assets, insurance premia to capital, payments of insurance premia, insurance premia to gross national product (GDP), profit to assets in the sector, as well as the profit volume and losses of the banking sector (Table 1)
Summary
The market of financial services provides clients with access to taking loans, depositing funds and reserves, as well as investing into the stock market or the market of securities in general. The peculiarities of the development of this sector are individual in each country. It often yields beneficial results on a macroeconomic level. Our study aims to find objective and cohesive data and results on the topic of digital trading utilization in the everyday person-to-person interactions with financial service providers. The paper tests the hypothesis that brokers with existing mobile apps outperform banks without mobile apps in the financial sector. The paper uses methods of t-test and regression analysis between assets (dependent variable) and the profit to assets (independent variable) in Russia
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