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ИД «Финансы и кредит»






Finance and Credit

Banking ecosystem as a customer-oriented business model in the context of digitalization

Vol. 28, Iss. 5, MAY 2022

Received: 15 November 2021

Received in revised form: 24 March 2022

Accepted: 7 April 2022

Available online: 30 May 2022

Subject Heading: Banking

JEL Classification: G21

Pages: 1000–1026


Sergei K. DUBININ Lomonosov Moscow State University, Moscow, Russian Federation


Lyudmila E. TELICHKO Lomonosov Moscow State University, Moscow, Russian Federation


Subject. A customer-oriented business model chosen by leading Russian banks is implemented through digitalization of financial services. Increased competition spurred the creation of ecosystems based on banking groups. Banks are actively using a variety of innovative financial and technological instruments, i.e. FinTech methods, to improve competitiveness. Digital ecosystems are shaping the newest version of banking business models. The article addresses this dynamic process.
Objectives. We analyze factors that encourage banking institutions to build ecosystems, and show methods for building banking ecosystems based on open and closed information platforms.
Methods. The documentation and validity of data are ensured by the extensive use of official statistical sources, analysis of scientific publications by highly qualified Russian and foreign specialists. The paper employs a complex approach to the development of the concept of a customer-oriented banking business model.
Results. The article examines modern trends in the evolution of the Russian banking sector in conditions of digitalization. Over the past two decades, banks and other financial institutions have been looking for ways to improve the sustainability of their operations. Commercial banks are changing their business model. Currently, they act as centers of financial conglomerates, corresponding banking groups and holdings. The leading Russian banks have chosen a customer-oriented business model.
Conclusions. A customer-oriented business model in the form of a banking ecosystem opens up the opportunity for increasing the stability and profitability of operators in the credit and securities markets.

Keywords: banking ecosystem, customer-oriented model, financial services, digitalization


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ISSN 2311-8709 (Online)
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