scholarly journals Digital Transformation of the Banking System in Conditions of Formation and Development of the Digital Economy

2017 ◽  
pp. 77-85
Author(s):  
Olga P. Stepanenko ◽  
Keyword(s):  
Banking System ◽  
Digital Economy ◽  
Digital Transformation

scholarly journals Development of Regional Commercial Banks in Digital Economy: Risks and Opportunities

2021 ◽  
pp. 181-193
Author(s):  
Natalia Simaeva ◽  
◽  
Inna Ryabova ◽  
Keyword(s):  
Commercial Banks ◽  
Business Models ◽  
Banking System ◽  
Digital Economy ◽  
Digital Transformation ◽  
The State ◽  
Banking Competition ◽  
Regional Bank ◽  
Regional Banks ◽  
Banking Credit

The article is devoted to the analysis of the activity of regional commercial banks. The purpose of this article is to identify risks and prospects for the development of regional commercial banks in the digital economy. The author explores the concept of a regional bank, analyzes the peculiarities of the activities of regional banks in modern conditions of increasing banking competition. The article analyzes the state and trends of the development of the banking regional sector from the point of view of efficiency increase of their activities. It is shown that the number of regional banks is constantly declining, and a number of constituent entities of the Russian Federation do not have any longer in the structure of their regional banking system banking credit organizations chartered in their territory as a legal entity. The authors concluded that the development of regional banks can be efficient only through the qualitative growth of each individual regional bank, since in quantitative terms this sector of the Russian banking systems will only decrease. As an example the activity of Rostov bank Tsent-Invest and the regional bank of the Republic of Tatarstan Ak Bars Bank are shown, which occupied certain niches in the Russian banking system and fully compete with foreign banks. To identify and assess the current risks of the activity of regional banks specific characteristics of the digital transformation of the banking industry are determined. As the main risks of development, the authors identified the following ones: risk of increased banking competition, on the one hand, and the risk of monopolization of the banking market, on the other; risk of underfunding of financial technologies; information risks and cyber risks; risks of insufficient financial literacy of consumers of banking products and services; risks of customer base reduction. As opportunities for the development of regional banks the use of remote banking services, allowing to attract new customers, expansion of participation in the state programs, emergence of opportunities for the introduction and development of new business models, in particular ESG-banking are identified. The Bank of Russia can provide certain support for the development of regional banks in the context of digital transformation and increasing banking competition by creating and developing nationwide banking infrastructure platforms.

scholarly journals DIGITAL PATH TO SUSTAINABILITY THE BANKING SECTOR OF BELARUS

2021 ◽  
pp. 82-91
Author(s):  
Natallia Maltsevich ◽  
Тatiana Рrokhorova ◽  
Elena Oshurkevich
Keyword(s):  
Sustainable Development ◽  
Banking Sector ◽  
Banking System ◽  
Digital Technologies ◽  
Scientific Work ◽  
Digital Economy ◽  
Digital Transformation ◽  
Structural Method ◽  
Banking Services ◽  
The Sustainable Development

Introduction. The article examines the functioning of digital technologies in the banking sector of the Republic of Belarus; the emphasis is on the development of remote banking services and the formation of a national model of secure payments. The necessity of introducing banking innovations in the digital economy to transform the format of banking services is substantiated and promising areas of digital transformation that contribute to the sustainable development of the banking system of Belarus are analysed. Methods. The methods of theoretical generalization and empirical methods were applied in the course of the research to determine the foundations for building approaches to the digital path of sustainable development of the banking sector at the present stage; the systemic and structural method was applied to highlight the current positions of the digital transformation of the banking sector and ways to increase its stability and efficiency. The task of this scientific work is to find relevant directions for the development of banking activities in the context of the introduction of inno-vations in the modern digital economy. Results. The key dominants of the introduction of banking innovations in the digital economy are evaluated, taking into account the directions of the formation of cross-channel banking infra-structure. The necessity of introducing banking innovations in the digital economy to transform the format of banking services aimed at ensuring sustainable development has been substantiated. Discussion. The need to implement and actively apply banking innovations in the digital econ-omy to transform the format of banking services in order to ensure sustainable development of the banking sector in Belarus. In the future, the sustainable development of the banking system in the direction of introducing innovations will ensure the competitiveness of banking products and services in comparison with neobanks and fintech projects, taking into account the substantiated directions for the development, regulation and implementation of banking innovations in the digital economy. Keywords: banking services, digital technologies, innovative trends in banks.

Implementaon of digital economy elements in electric power industry

2018 ◽  
Vol 11 (2) ◽  
pp. 94-102 ◽  
Author(s):  
A. G. Filimonov ◽  
N. D. Chichirova ◽  
A. A. Chichirov ◽  
A. A. Filimonovа
Keyword(s):  
Electric Power ◽  
Energy Production ◽  
Predictive Analytics ◽  
Digital Economy ◽  
Digital Transformation ◽  
Cloud Services ◽  
Small Scale ◽  
Economic Activities ◽  
Industrial Enterprises ◽  
Automation Systems

Energy generation, along with other sectors of Russia’s economy, is on the cusp of the era of digital transformation. Modern IT solutions ensure the transition of industrial enterprises from automation and computerization, which used to be the targets of the second half of the last century, to digital enterprise concept 4.0. The international record of technological and structural solutions in digitization may be used in Russia’s energy sector to the full extent. Specifics of implementation of such systems in different countries are only determined by the level of economic development of each particular state and the attitude of public authorities as related to the necessity of creating conditions for implementation of the same. It is shown that a strong legislative framework is created in Russia for transition to the digital economy, with research and applied developments available that are up to the international level. The following digital economy elements may be used today at enterprises for production of electrical and thermal energy: — dealing with large amounts of data (including operations exercised via cloud services and distributed data bases); — development of small scale distributed generation and its dispatching; — implementation of smart elements in both electric power and heat supply networks; — development of production process automation systems, remote monitoring and predictive analytics; 3D-modeling of parts and elements; real time mathematic simulation with feedback in the form of control actions; — creating centres for analytical processing of statistic data and accounting in financial and economic activities with business analytics functions, with expansion of communication networks and computing capacities. Examples are presented for implementation of smart systems in energy production and distribution. It is stated in the paper that state-of art information technologies are currently being implemented in Russia, new unique digital transformation projects are being launched in major energy companies. Yet, what is required is large-scale and thorough digitization and controllable energy production system as a multi-factor business process will provide the optimum combination of efficient economic activities, reliability and safety of power supply.

Digital Transformation as a Way to Improve Public Administration

2020 ◽  
Vol 8 ◽  
pp. 48-53
Author(s):  
I. I. Zedgenizova ◽  
◽  
I. V. Ignatieva ◽  
Keyword(s):  
Public Administration ◽  
Relevant Information ◽  
Digital Economy ◽  
Digital Transformation ◽  
Digital Government ◽  
Dynamic Development ◽  
Modern Technologies

The relevance of the article is due to the dynamic development of modern technologies and the transition of state bodies to a digital way of exchanging legally relevant information. The purpose of the article is a brief overview of the problems associated with the regulation of the digital economy in the direction of «Digital government», as well as approaches to their solution.

THE SHAPE OF A COMMERCIAL BANK IN THE CONTEXT OF DIGITAL TRANSFORMATION IN THE ECONOMY

2020 ◽  
Author(s):  
Магомед Русланович Таштамиров
Keyword(s):  
Commercial Bank ◽  
Digital Economy ◽  
Digital Transformation ◽  
Economic Relations

Данная статья посвящена актуальным вопросам необходимости преобразования коммерческого банка в условиях цифровой трансформации экономических отношений. Представлены некоторые тенденции цифровизации экономики. Отмечена объективная необходимость пересмотра роли и облика коммерческого банка в перспективе цифровой экономики. Выявлены проблемные аспекты ускоренного преобразования цифрового банка в России. This article is devoted to topical issues of necessity of transformation of commercial bank in conditions of digital transformation of economic relations. Some trends in digitalization of the economy are presented. The objective need to review the role and appearance of the commercial bank in the perspective of the digital economy was noted. Problematic aspects of accelerated transformation of digital bank in Russia identified.

Tendencies of development of modern innovative technologies and the digital economy

2018 ◽  
Vol 35 (2) ◽  
pp. 40-47
Author(s):  
S. M. Doguchaeva
Keyword(s):  
Internet Of Things ◽  
Digital Economy ◽  
Digital Transformation ◽  
The Internet ◽  
Successful Development ◽  
Innovative Technologies ◽  
Digital World ◽  
Blockchain Technology ◽  
The Internet Of Things

The era of digital transformation provides the opportunity for leading companies to change priorities - to begin to take care of the support environment using innovative technologies and become a leading creative platform open for innovation. The successful development of the digital world, the blockchain technology, the Internet of things – the mechanism which will change the financial world. 

Risks of the Digitalization of Life of the Population and Ways of Decreasing Them

2021 ◽  
Vol 13 (4-1) ◽  
pp. 180-203
Author(s):  
Elena Stukalenko ◽  
Keyword(s):  
Quality Of Life ◽  
Digital Technologies ◽  
Well Being ◽  
Digital Economy ◽  
Digital Transformation ◽  
Negative Consequences ◽  
Short Period ◽  
The World ◽  
The Impact

Digital technologies, ubiquitous in our daily life, have radically changed the way we work, communicate, and consume in a short period of time. They affect all components of quality of life: well-being, work, health, education, social connections, environmental quality, the ability to participate and govern civil society, and so on. Digital transformation creates both opportunities and serious risks to the well-being of people. Researchers and statistical agencies around the world are facing a major challenge to develop new tools to analyze the impact of digital transformation on the well-being of the population. The risks are very diverse in nature and it is very difficult to identify the key factor. All researchers conclude that secure digital technologies significantly improve the lives of those who have the skills to use them and pose a serious risk of inequality for society, as they introduce a digital divide between those who have the skills to use them and those who do not. In the article, the author examines the risks created by digital technologies for some components of the quality of life (digital component of the quality of life), which are six main components: the digital quality of the population, providing the population with digital benefits, the labor market in the digital economy, the impact of digitalization on the social sphere, state electronic services for the population and the security of information activities. The study was carried out on the basis of the available statistical base and the results of research by scientists from different countries of the world. The risks of the digital economy cannot be ignored when pursuing state social policy. Attention is paid to government regulation aimed at reducing the negative consequences of digitalization through the prism of national, federal projects and other events.

ANALYSIS OF THE STRUCTURAL DYNAMICS OF THE DIGITAL ECONOMY IN TODAY'S REALITIES

2021 ◽  
Vol 14 (1) ◽  
pp. 40-47
Author(s):  
Tatуana Ivanovna LOMACHENKO ◽  
Keyword(s):  
Structural Dynamics ◽  
Digital Technology ◽  
Business Strategy ◽  
Production Management ◽  
Production Efficiency ◽  
Business Processes ◽  
Business Environment ◽  
Digital Economy ◽  
Digital Transformation ◽  
Evolutionary Stage

Nowadays, there is no consensus that digitalization is a threat to business security or an opportunity to comprehensively manage the entire chain of business processes in real time, taking into account incoming data from all assets. However, political and economic instability, demand volatility, and competition are all a set of global challenges that digital transformation has responded to. In industry, the competitive advantage has become not the ownership of the enterprise, the firm, but access to digital technology, on which the efficiency of work with specific resources depends. The processes of forming individual business segments related to production management based on modern digital technology have already been launched and most companies are focused on this direction. The article reveals the features of the evolutionary stage of digital economy development, presents the relationship of this process with the formation of the conceptual framework from the theoretical foundations, substantiated in the 1990s by foreign and domestic scientists to modern approaches in the interpretation of digital economy definitions. The article proposes the structural dynamics of the digital economy in today's realities, revealing internal problems, opportunities for economic growth, maturity and readiness of the state to new ways of doing business in the digital economy and digital transformation, to form the country's national strategy. In addition, the conditions under which digital transformation opens up new opportunities for the business environment, the public sector and society as a whole are presented. Changes in business strategy, organizational forms, business process capabilities, new approaches in working with clients, competitive advantages, increase in profit sources are analyzed. As a result, the efficiency of the whole system increases, which allows to reach a fundamentally new level of production efficiency in a short time.

ROLE AND FEATURES OF MANAGEMENT ACCOUNTING IN THE DIGITAL TRANSFORMATION OF THE COMPANY

2021 ◽  
Vol 4 (4) ◽  
pp. 165-168
Author(s):  
V. I. ABRAMOV ◽  
◽  
D. M. MIKHAYLOV ◽  
A. D. STOLYAROV ◽  
◽  
...  
Keyword(s):  
Management Accounting ◽  
Digital Economy ◽  
Digital Transformation ◽  
A Company

The article examines the role of management accounting in the preparation and implementation of the digital transformation of a company, examines the features and requirements for management accounting in the digital economy, substantiates proposals for key changes in the organization of management accounting in the digital transformation of a company.

The impact of financial and technological mergers and acquisitions on the world digital economy

2021 ◽  
Vol 14 (2) ◽  
pp. 174-189
Author(s):  
Natal'ya A. KHUTOROVA ◽  
Nikolai A. ROGASHKOV
Keyword(s):  
Global Economy ◽  
Banking Sector ◽  
Digital Economy ◽  
Digital Transformation ◽  
Payment Systems ◽  
Digital Inequality ◽  
Social Risks ◽  
High Volatility ◽  
Percent Contribution ◽  
The Impact

Subject. The COVID-19 pandemic brought IT companies to the leadership positions in terms of many aspects, as they contribute to a new reality and the development of digital economy. It also catalyzed the emergence of large ecosystems among financial institutions and technological giants. The M&A market mainly starts to shape global processes of the global economy digitalization, urging to scientifically comprehend the processes. Objectives. We conduct the critical analysis of the way the M&A market influences the digitalization of the global economy. Methods. Studying the M&A in the Fintech and Techfin segments, we applied methods of analysis, comparison and systematization of the information. Results. We revealed key trends in digital M&A deals, describe the impact and development of such processes in the Russian practice. Conclusions and Relevance. Every year M&A deals in the financial sectors and among IT corporations generates and raises over USD 250 billion in investment, thus making almost a 20-percent contribution to a growth in the digital economy. We found some understudies risks arising from digital M&A deals, such as deal planning risks synergy assessment risks, high volatility risks associated with prices for new companies, compliance risks, digital inequality risk and new social risks. Considering the Russian specifics and predominant positions of the banking sector, the digital transformation in Russia is noted to take place through the FinTech sector gaining momentum. To accelerate the digital constituent, it is reasonable to take the following efforts: introducing the digital Ruble as announced by the Bank of Russia, outlining a programs for supporting and encouraging national IT companies to develop non-banking payment systems and accelerate the digital transformation, connecting not only credit institutions, but also digital developers to the quick payment system of the Bank of Russia.

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