Identification and analysis of factors determining the readiness degree of the Russian Federation financial sector to the digitalization processes

Nowadays, the rapidly growing technology market and the digitalization process that covers all areas of economic activity have a strong impact on financial markets. Changes in the financial sector occur both within the financial market objects themselves and in the processes of interaction with each...

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Autores principales: E. A. Khalimon, V. G. Makeeva, Yu. N. Kafiyatullina, G. P. Kharchilava
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Lenguaje:RU
Publicado: State University of Management 2020
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spelling oai:doaj.org-article:13cbdf001eb34058b0f5eae85942b4152021-11-14T15:54:16ZIdentification and analysis of factors determining the readiness degree of the Russian Federation financial sector to the digitalization processes2658-34452686-840710.26425/2658-3445-2019-4-74-84https://doaj.org/article/13cbdf001eb34058b0f5eae85942b4152020-02-01T00:00:00Zhttps://e-management.guu.ru/jour/article/view/77https://doaj.org/toc/2658-3445https://doaj.org/toc/2686-8407Nowadays, the rapidly growing technology market and the digitalization process that covers all areas of economic activity have a strong impact on financial markets. Changes in the financial sector occur both within the financial market objects themselves and in the processes of interaction with each other and clients. These changes are related to the application of new digital technologies, including distributed accounting technology, big data analysis, cloud computing, artificial intelligence, biometric technologies, augmented / virtual reality. These technologies are related to processes such as customer use of banking applications, remote payments, planning, lending and financing, trade and investment, insurance, security, regulatory operations and communications between financial market participants and customers.Such financial sector processes as fintech, regtech, investtech, creditech, inshurtech, cybertech, opertech, robotech, analytech, which reflect the digital aspect of the traditional processes of this market segment, have been described in the article. The article includes materials obtained in the course of the OECD’s work over the past few years on a number of related topics, including “Innovation in financial services”, “Digitalization and Finance”, which complements the study with additional relevant materials of international level. Technological innovations in the field of finance have been considered and their impact on the processes listed above has been evaluated. A detailed description of each of the nine processes contains the rationale and examples of the use of digital technologies, as well as the degree of integration and impact on these processes. The relevance of this topic is due to the fact that today there are no publications in domestic and foreign sources on the identification, analysis and evaluation of factors that affect the financial sector of the economy due to the lack of statistical and analytical information. In this regard, the conclusions made are of both scientific and practical interest not only in Russia, but also in other countries with developing and developed economies.E. A. KhalimonV. G. MakeevaYu. N. KafiyatullinaG. P. KharchilavaState University of Managementarticlefinancial sectorheuristic modelingdigital technologiesblockchainbig datacloud computingartificial intelligencebiometric technologiesaugmented realitymachine learningElectronicsTK7800-8360Management information systemsT58.6-58.62RUE-Management, Vol 2, Iss 4, Pp 74-84 (2020)
institution DOAJ
collection DOAJ
language RU
topic financial sector
heuristic modeling
digital technologies
blockchain
big data
cloud computing
artificial intelligence
biometric technologies
augmented reality
machine learning
Electronics
TK7800-8360
Management information systems
T58.6-58.62
spellingShingle financial sector
heuristic modeling
digital technologies
blockchain
big data
cloud computing
artificial intelligence
biometric technologies
augmented reality
machine learning
Electronics
TK7800-8360
Management information systems
T58.6-58.62
E. A. Khalimon
V. G. Makeeva
Yu. N. Kafiyatullina
G. P. Kharchilava
Identification and analysis of factors determining the readiness degree of the Russian Federation financial sector to the digitalization processes
description Nowadays, the rapidly growing technology market and the digitalization process that covers all areas of economic activity have a strong impact on financial markets. Changes in the financial sector occur both within the financial market objects themselves and in the processes of interaction with each other and clients. These changes are related to the application of new digital technologies, including distributed accounting technology, big data analysis, cloud computing, artificial intelligence, biometric technologies, augmented / virtual reality. These technologies are related to processes such as customer use of banking applications, remote payments, planning, lending and financing, trade and investment, insurance, security, regulatory operations and communications between financial market participants and customers.Such financial sector processes as fintech, regtech, investtech, creditech, inshurtech, cybertech, opertech, robotech, analytech, which reflect the digital aspect of the traditional processes of this market segment, have been described in the article. The article includes materials obtained in the course of the OECD’s work over the past few years on a number of related topics, including “Innovation in financial services”, “Digitalization and Finance”, which complements the study with additional relevant materials of international level. Technological innovations in the field of finance have been considered and their impact on the processes listed above has been evaluated. A detailed description of each of the nine processes contains the rationale and examples of the use of digital technologies, as well as the degree of integration and impact on these processes. The relevance of this topic is due to the fact that today there are no publications in domestic and foreign sources on the identification, analysis and evaluation of factors that affect the financial sector of the economy due to the lack of statistical and analytical information. In this regard, the conclusions made are of both scientific and practical interest not only in Russia, but also in other countries with developing and developed economies.
format article
author E. A. Khalimon
V. G. Makeeva
Yu. N. Kafiyatullina
G. P. Kharchilava
author_facet E. A. Khalimon
V. G. Makeeva
Yu. N. Kafiyatullina
G. P. Kharchilava
author_sort E. A. Khalimon
title Identification and analysis of factors determining the readiness degree of the Russian Federation financial sector to the digitalization processes
title_short Identification and analysis of factors determining the readiness degree of the Russian Federation financial sector to the digitalization processes
title_full Identification and analysis of factors determining the readiness degree of the Russian Federation financial sector to the digitalization processes
title_fullStr Identification and analysis of factors determining the readiness degree of the Russian Federation financial sector to the digitalization processes
title_full_unstemmed Identification and analysis of factors determining the readiness degree of the Russian Federation financial sector to the digitalization processes
title_sort identification and analysis of factors determining the readiness degree of the russian federation financial sector to the digitalization processes
publisher State University of Management
publishDate 2020
url https://doaj.org/article/13cbdf001eb34058b0f5eae85942b415
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