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Information and Financial Technologies in a System of Russian Banks’ Digitalization: A Competency-Based Approach

In: Contemporary Issues in Business and Financial Management in Eastern Europe

Author

Listed:
  • N. G. Vovchenko
  • L. Yu. Andreeva
  • V. S. Kokhanova
  • O. T. Dzhemaev

Abstract

The development of the digital economy in the context of modern financial globalization is becoming an issue of national security and independence of a country. Promotion of the digital economy in the financial sector is a high-priority task for the short-term perspective. Nicholas Negroponte, an American scientist, first used the concept of “digital economy” in 1995. Since then, this concept has started spreading rapidly with the help of the Internet and has enhanced exchange and storage of information, complex calculations, and computer modeling of engineering facilities. In the new economy, digital platforms are the most open electronic platforms that allow receiving full information about financial institutions and organizations; they are also being developed primarily for the financial sector. The introduction of digital technologies can lead to the reduction of headcount of financial institutions. Digitalization and online publishing of documents related to various tenders and purchases may contribute to the reduction of risks and corruption.

Suggested Citation

  • N. G. Vovchenko & L. Yu. Andreeva & V. S. Kokhanova & O. T. Dzhemaev, 2018. "Information and Financial Technologies in a System of Russian Banks’ Digitalization: A Competency-Based Approach," Contemporary Studies in Economic and Financial Analysis, in: Contemporary Issues in Business and Financial Management in Eastern Europe, volume 100, pages 19-29, Emerald Group Publishing Limited.
    • Handle: RePEc:eme:csefzz:s1569-375920180000100004
    DOI: 10.1108/S1569-375920180000100004
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    More about this item

    Keywords

    Information and financial technologies; blockchain; digitalization; competency-based approach; banking framework; digital economy; G21; J21; J24; O32; O33;
    All these keywords.

    JEL classification:

    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • J21 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Labor Force and Employment, Size, and Structure
    • J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity
    • O32 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Management of Technological Innovation and R&D
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes

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