Digital Bank of the Future

DOI

10.2991/aebmr.k.200423.013How to use a DOI?

Abstract

In this article the authors express their opinion regarding digital transformation in the banking sector. Initially, it was stated that digital technologies open new opportunities for further development of the sector. Existing literature on this issue revealed the main approaches to the definition of digital transformation in the banking sector. The authors analyzed Russian and foreign digital technologies, implemented for planning, monitoring and evaluating management strategies, which enabled them to suggest priority areas for digital technology application as part of the further development of performance management. According to the analysis, digital bank transformation, contrary to the popular belief, is no alternative. Moreover, digital technologies resolve many problems identified in the past when mechanisms and tools for performance management had been implemented. Digital technologies shorten the time lag between results achievement and getting data on results, significantly increase the number of data sources and indicators that can be used for planning, monitoring and evaluating the productivity and efficiency of banking activities, reduce the risk of reported data being purposefully misrepresented. The research objective is to define the concept of digital bank, identify problems and advantages of digital technologies in banking. Theoretical and methodological basis of the research is the work of Russian and foreign scientists on banking sector problems in terms of digitalization. Ronald Coase’s theory of uniting people into production cooperatives of any type holds a special place in this research. The following research methods have been used: modeling, analogy, historical analysis.

Copyright

© 2020, the Authors. Published by Atlantis Press.

Open Access

This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

Download article (PDF)

TY  - CONF
AU  - Lyubov Anatolyevna Petrova
AU  - Tatyana Evgenievna Kuznetsova
AU  - Sofya Anatolyevna Eremina
AU  - Oleg Anatolyevich Kalachev
PY  - 2020
DA  - 2020/04/24
TI  - Digital Bank of the Future
BT  - Proceedings of the III International Scientific and Practical Conference "Digital Economy and Finances" (ISPC-DEF 2020)
PB  - Atlantis Press
SP  - 57
EP  - 60
SN  - 2352-5428
UR  - https://doi.org/10.2991/aebmr.k.200423.013
DO  - 10.2991/aebmr.k.200423.013
ID  - Petrova2020
ER  -