Digitalization of the banking system

The article is devoted to the study of the process of digitalization of financial institutions, which in turn creates conditions for a radical transformation of the marketing policy of banks and their business models. The article discusses the features of digitalization of the Russian banking system, and also shows the feasibility of further use of digital tools in the financial sector. The conducted research confirms that digitalization is a way to improve the quality, accessibility and security of existing financial services and services on the market for both ordinary citizens and businesses, contributing to the formation of conditions for a natural competitive environment, making the business processes of market players more efficient. The article also presents the key digital technologies of the banking sector at the moment and the main directions of IT investments of banks. One of the main objectives of the article is to identify the impact of digitalization of the banking system on the production and promotion of banking services and products. The analysis showed that Internet banking is currently in demand among the population, which allows optimizing the process of providing products and services. An overview of the web applications of today's Russian fintech and how well these applications cover the needs of customers is made, which made it possible to name the best mobile Internet banks in Russia. As a result of the conducted research, the author concluded that the use of these latest digital developments in the activities of credit institutions is becoming a fundamental factor in the effective development of the Russian economy as a whole.

Keywords: financial sector, efficiency, digital environment, banking, customer service, ecosystem, communications, financial technologies, banking sector.

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Authors