Home  Journals  Finance and Credit  39(759) - 2017 October

Banking products and services: State of the art and the prospects of development in Russia

Vol. 23, Iss. 39, OCTOBER 2017

Article PDF Version

Received: 7 September 2017

Received in revised form: 21 September 2017

Accepted: 5 October 2017

Available online: 27 October 2017

Subject Heading: Banking

JEL Classification: E41, G21

Pages: 2346–2360

https://doi.org/10.24891/fc.23.39.2346

Subject The article deals with the issues of banking products and services state of the art.
Objectives The study aims to assess the banking market in modern conditions and identify the existing problems and trends of development.
Methods For the study, I used the systems approach and dialectical method, as well as statistical and financial analyses, grouping, and comparison.
Results The article assesses the current state of the market for banking products and services in two major groups of borrowers, i.e. individuals and legal entities. It analyzes the evolution of the withdrawal of licenses from financial and credit organizations over the past five years and identifies the main reasons for this trend. On the basis of the results obtained, it shows the main areas of development of banking products and services identifies the most promising ones.
Conclusions Despite the slow growth of banking services over the past two years, their development trend is positive and does not give rise to serious concern. The monitoring of banking services and products leads to the conclusion that the creation of new credit products is difficult today, though it is mainly about new lending and service technologies for borrowers.

Keywords: banking products, banking market, banking services, innovation

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