Acute Problems of Digital Transformation in Banking Sector

Abstract

The banking sector was among the first to join digital transformation of economy and became a driver of digital technologies used within the frames of B2C and B2B. Bank executives consider banking-process digitalization as a key factor of competitiveness and success on market. Digitalization process in the banking sphere goes on intensively, which requires modernization and adaptation to constantly changing conditions. Therefore, the acute objective is to trace key trends in digital transformation of the banking sector. Major goals of the research are to analyze digitalization rate of the banking sphere and to make up a list of serious problems arising in the process of digital transformation of banks. The authors used such methods of research as comparative analysis, statistical analysis, benchmarking, classification and rating. As a result of the research the article mentioned a list of acute problems of digital transformation of existing Russian banks and possible lines in their solution or minimization of adverse impacts. The authors came to the conclusion that the process of banking activity digitalization is accompanied by both positive and negative factors, the latter forms problematic fields requiring fast settlement.

Keywords

• economy digitalization
• bank
• banking activity
• mobile banking
• internet-banking
• bank online-services