Abstract
In the age of digital technologies, the main factor of competitiveness in the financial market is “digital capital”. Using developments in the field of information technology, banks change the format and methods of providing their products and services, participate in the provision of services that are not typical for them. In such circumstances, banks have to completely transform their business and build it on the basis of platforms. Changes in the operating conditions of the financial market entail changes in the rules of conduct on it and approaches to its regulation. Investing in technologies, creating and developing ecosystems require significant financial investments from banks, which not all banks can afford. This research analyzes the possibilities of using digital capital by the most successful Russian banks in building and developing ecosystems. The main models of banking ecosystems used in Russian practice are systematized. The necessity of state participation in financial support of the digital transformation of the banking sector is justified. The steps taken by the Bank of Russia in this direction are evaluated. The article summarizes the Bank of Russia’s efforts to develop approaches to financial market regulation to ensure information security and prevent financial isolation. Steps taken by the regulator to ensure an equal access to financial services for all citizens, equal opportunities for competition of various financial market players.
Highlights
The Russian banking sector is the largest user of digital technologies and the main driver of digital transformation of the entire economy
Analysts of the international consulting company “McKinsey & Company identified the resources needed to develop new products and services in the digital economy as “digital capital” [2]. This form of capital includes both traditional assets as well as intangible assets [8] defines digital capital as “a set of internalized abilities and abilities”, as well as “external resources” that can be historically accumulated and transferred from one field of activity to another
As a result of the research, new factors that ensure the competitiveness of banks in the financial market were identified
Summary
The Russian banking sector is the largest user of digital technologies and the main driver of digital transformation of the entire economy. The financial services market has recently become very attractive for many participants, as it is becoming more and more technological. Services that still recently were provided only by credit organizations are becoming popular among companies that use modern mobile and Internet technologies. Telecom operators are responsible for instance issues. Customer creditworthiness assessment (online scoring) is carried out by specialized companies, for example, “Direct Credit” and “Gridfore”. In the sphere of crediting of the enterprises of small and medium business, banks compete with technologically advanced platforms: “City money” and “Moulding”. Many financial services are provided by such companies as “UK FinEx Plus” and “Cindicator”, “Optiacs”, “Unicombay”, “Simple Invest”, etc
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