The financial services sector has undergone major changes in recent years as a result of new technologies.Business processes in the creation of a banking product, building a longterm strategy and successful project activities are moving into a digital interactive model of interaction in the digital environment.In the emerging markets there are FinTech start-ups in areas such as the service of individuals and private capital management, which are in the lead at the expense of customer-friendly services. Financial technologies are radically changing the competitive environment of financial institutions and the structure of their functioning markets, reducing the branch network of banks, the number of employees in the financial services sector, while expanding their provision in real time, creating conditions for multifunctional digital banks with a low base of current costs by simplifying traditional systems.The FinTech segment of the capital market contributes to the formation of a new business model, offering users a personalized service option combined with lower fixed costs and price parameters.The research presented in the scientific article on the basis of monitoring the practice of financial technologies in the Russian banking system, allows to identify current trends and trends in the development of financial services in the new digital competitive environment, which should be taken into account by the bodies of state regulation and banking supervision. 1. Introduction
scite is a Brooklyn-based organization that helps researchers better discover and understand research articles through Smart Citations–citations that display the context of the citation and describe whether the article provides supporting or contrasting evidence. scite is used by students and researchers from around the world and is funded in part by the National Science Foundation and the National Institute on Drug Abuse of the National Institutes of Health.
hi@scite.ai
10624 S. Eastern Ave., Ste. A-614
Henderson, NV 89052, USA
Copyright © 2024 scite LLC. All rights reserved.
Made with 💙 for researchers
Part of the Research Solutions Family.