Financial Technologies as a Tool for Comprehensive Banking Services

DOI

10.2991/aebmr.k.200312.061How to use a DOI?

Abstract

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 long-term 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.

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/).

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TY  - CONF
AU  - L R Kurmanova
AU  - D A Kurmanova
AU  - E F Nurdavliatova
PY  - 2020
DA  - 2020/03/17
TI  - Financial Technologies as a Tool for Comprehensive Banking Services
BT  - Proceedings of the International Scientific Conference "Far East Con" (ISCFEC 2020)
PB  - Atlantis Press
SP  - 426
EP  - 431
SN  - 2352-5428
UR  - https://doi.org/10.2991/aebmr.k.200312.061
DO  - 10.2991/aebmr.k.200312.061
ID  - Kurmanova2020
ER  -