Proceedings of the International Scientific Conference "Far East Con" (ISCFEC 2020)

Management of Innovation Processes of Russian Banks Based on Cluster Analysis

Authors
K Kurilov, D Bogatyrev, G Zabolotny
Corresponding Author
K Kurilov
Available Online 17 March 2020.
DOI
https://doi.org/10.2991/aebmr.k.200312.160How to use a DOI?
Abstract
The global financial system is an essential component of the global economy. Its role can be compared with the circulatory system that ensures the delivery of funds to economic entities. The total number of components of the global financial system is about 50,000 credit institutions, including microcredit financial institutions, the public sector, commercial banks, credit unions, cooperative banks, etc. The Russian financial system is presented by the Bank of Russia in Russia more than 876 credit organizations, including non-bank credit organizations. Most of them, about 91%, are banking organizations, about 9% are non-banking organizations. According to EY experts, most operations in the banking sector, such as payments and transfers, financing and capital management will be carried out using innovative approaches and technologies. This makes the development and management of the innovation process in Russian banks relevant. For the successful development and application of the innovation process in Russian banks, it is necessary to determine the development directions of the innovation process in the Russian banking sector. In order to determine the priority directions of development, it is advisable to divide financial organizations into groups depending on indicators reflecting the efficiency of their business activities. According to the results of the assessment, the existing set of global financial organizations was divided into 4 groups like the BCG matrix. On the basis of the analysis conducted, conclusions were made about the directions of innovative development for each of the groups.
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Volume Title
Proceedings of the International Scientific Conference "Far East Con" (ISCFEC 2020)
Series
Advances in Economics, Business and Management Research
Publication Date
17 March 2020
ISBN
978-94-6252-929-8
ISSN
2352-5428
DOI
https://doi.org/10.2991/aebmr.k.200312.160How to use a DOI?
Open Access
This is an open access article distributed under the CC BY-NC license.

Cite this article

TY  - CONF
AU  - K Kurilov
AU  - D Bogatyrev
AU  - G Zabolotny
PY  - 2020
DA  - 2020/03/17
TI  - Management of Innovation Processes of Russian Banks Based on Cluster Analysis
BT  - Proceedings of the International Scientific Conference "Far East Con" (ISCFEC 2020)
PB  - Atlantis Press
SP  - 1155
EP  - 1161
SN  - 2352-5428
UR  - https://doi.org/10.2991/aebmr.k.200312.160
DO  - https://doi.org/10.2991/aebmr.k.200312.160
ID  - Kurilov2020
ER  -