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A classification of banking innovation in the digital economy and the assessment of the innovative potential of Russian banks

Vol. 25, Iss. 9, SEPTEMBER 2019

Received: 14 August 2019

Received in revised form: 28 August 2019

Accepted: 11 September 2019

Available online: 30 September 2019

Subject Heading: Banking

JEL Classification: G21

Pages: 2022–2039

Kotova K.Yu. Perm State National Research University (PSU), Perm, Russian Federation

Subject This article analyzes the state of the innovative component of the business models of banking activity and updates the classification of banking innovation in the digital economy.
Objectives The article aims to systematize modern innovative trends, develop new criteria of the classification of banking innovation, and determine the innovative potential of Russian banks.
Methods For the study, I used the methods of systems analysis and synthesis, description, comparison, observation, generalization, the expert evaluation method, etc.
Results The article systematizes the main directions of the development of innovative trends in the banking business. It offers an original vision of approaches to classifying banking innovation. The article also presents a developed methodology for evaluating innovation in a group of systematically important credit institutions.
Conclusions and Relevance Innovation regulations lag behind rapid growth of the changes that take place, so the Bank of Russia is to develop regulatory mechanisms in the digital economy. The results of the study can be used by the management of banks in studying the prospects and potential of introducing certain types of innovation in the banking sector, potential investors and creditors, bank customers when studying the possibility of cooperation. The materials of the article can be used in scientific research on the economy, in the educational processes of universities of the Russian Federation.

Keywords: banking system, innovative technology, banking innovation


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