Digital Bank of the Future
- 10.2991/aebmr.k.200423.013How to use a DOI?
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.
- © 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/).
Cite this article
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 -