Ecosystem Development as the Main Trend of Banking Business Transformation

Bubnova, Yulia

doi:10.17150/2500-2759.2020.30(3).394-401

Cited by 10 publications

(4 citation statements)

References 4 publications

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“…Проблемы в сфере потребительского кредитования разнообразны и затрагивают широкий спектр вопросов: от недобросовестного действия заемщиков и стра-хователей как потребителей финансовых услуг [10], трансформации банковского бизнеса и развития экосистем [11], до применения мер антикризисного регулирования денежно-кредитной сферы и рынка финансовых услуг [12].…”

Section: Baikal Research Journalunclassified

Problems and Prospects of Consumer Lending Development in the Russian Federation

Zhilan

2023

Baikal Research Journal

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In the current situation, the issues of consumer lending development are extremely significant and become especially acute, since their relevance is obvious both for individuals acting as borrowers and banks, acting as the main creditor of the population, and the economy as a whole. With the help of a consumer loan, the population is able to eliminate the time gap between receiving goods (services) and paying for them, thereby satisfying their needs. The growth of consumer demand raises production processes, increasing market volumes, contributing to the development of the economy and improving the well-being of citizens. Consumer lending plays a key role in the activities of many commercial banks, microfinance organizations and consumer cooperatives, allows expanding the customer base, which compensates for credit risk, as well as generating a significant part of their income for these entities. At the same time, the assessment of trends in the consumer lending market demonstrates an increase in problems that need to be solved. Problems of debt burden of the population, high risks of loan portfolios of banks and other creditors (lenders), a dangerous share of overdue debts and a high value of interest rates on consumer loans, insufficient literacy of the population on financial issues - an incomplete list of problems, the solution of which can have a positive result only with a comprehensive approach — the participation of the state, creditors and borrowers. The main purpose of the article is to determine the prospects for the development of consumer lending in Russia, based on an assessment of its current state, identifying problems and ways to solve them.

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Section: Baikal Research Journalunclassified

Problems and Prospects of Consumer Lending Development in the Russian Federation

Zhilan

2023

Baikal Research Journal

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“…Compared with traditional information, digitization is produced and developed on the basis of the rapid development of information. However, unlike the traditional segmented service business approach, digitization is more of a systematic transformation and reconstruction of business and business models [14].…”

Section: Depositorymentioning

confidence: 99%

Study on the Dynamics of Financial and Economic Correlation Network of Banks in Implementing Digital Transformation with Precise Policies

2023

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In recent years, with the rise of digital transformation wave, China's economy is changing from traditional factor driven to innovation driven, especially in the financial field. Today's rapid development of digital information technology has provided unprecedented impacts and severe challenges for our country's commercial investment banks. How to actively respond to these impacts and successfully implement their digital transformation has become a major issue that our country's commercial investment banks must face. The purpose of this article is to analyze the role of digital transformation on the dynamics of the network in the banking financial econoour and expound the great significance of the digital transformation of our country's financial econoour from various aspects. It shows the importance of the digital transformation of our country's financial econoour. The article mainly introduces the concept of digitalization, explains the necessity of digital transformation of banks, and expounds the relationship between the structure of the banking industry and economic development. At the same time, it combines the operation status of commercial banks in this city, the current status of commercial bank electronic financial services and the development status and trends of commercial bank electronic financial services. It analyzes the difficulties of commercial banks in the transformation of Internet financial service models. Among them, it was found that the highest utilization rate of inter-bank transfer business was 46%, followed by intra-bank transfer at 29.1%, and online banking and internet transfer accounted for less than 1%. Moreover, traditional electronic banking functions were lacking and could no longer meet the needs of customers. Therefore, commercial banks must carry out digital transformation and gradually enter Digital Bank 4.0 to improve services by using emerging digital advanced technologies.

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“…В настоящее время, к основным базовым криптовалютам относятся: Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), Litecoin (LTC), Tether (USDT), Dogecoin (DOGE), XRP (XRP) и др. 1 . Данный криптовалюты отличаются высоким уровнем рыночной капитализации и большим спросом у потребителей.…”

Section: Baikal Research Journalunclassified

Driving Forces for the Development of Digital Currencies of Central Banks in the System of Monetary Relations

Zhigas,

Kuzmina

2022

Baikal Research Journal

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The changes that have emerged in the sphere of monetary circulation over the past decades on the eve of the introduction and development of financial technologies, contributed to the spread of innovations in the financial market. The idea of creating digital currencies of central banks is being discussed at the level of the financial community and makes it relevant to study this issue. The purpose of this study is to identify the main problems of changes and transformations taking place in the sphere of monetary circulation over the past decades, through the creation and introduction of digital peer-to-peer currencies into circulation. The article suggests and considers a model for creating and constructing an environment for the circulation of digital currencies by means of minimizing risks by using the advantages of the developed technology. The study assessed the key distinctive features between the pyramid requirements building system and digital peer-to-peer currencies. The main aspects supporting the use of stable digital currencies and their assets as one of the tools have been formulated. The forms of design features of CBDC (Central Bank Digital Currency) creation are projected, their advantages are formulated. The study showed that the implementation and circulation of CBDC requires the creation of a stable, secure and innovative infrastructure that has the ability to connect, authenticate and support users on a massive scale. During the transition to digital currencies of the central bank, the risks may be higher than planned, this is influenced by unstable macroeconomic and structural policies, including the reliability of the regulatory framework, which should be flexible enough and adapted to recognize financial risks created by new types of financial intermediaries, and deal with them.

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Ecosystem Development as the Main Trend of Banking Business Transformation

Cited by 10 publications

References 4 publications

Problems and Prospects of Consumer Lending Development in the Russian Federation

Problems and Prospects of Consumer Lending Development in the Russian Federation

Study on the Dynamics of Financial and Economic Correlation Network of Banks in Implementing Digital Transformation with Precise Policies

Driving Forces for the Development of Digital Currencies of Central Banks in the System of Monetary Relations

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