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ИД «Финансы и кредит»






Finance and Credit

Financial accessibility in Southern Russia: A study of digitalization and regional differences

Vol. 30, Iss. 6, JUNE 2024

Received: 29 January 2024

Received in revised form: 12 February 2024

Accepted: 26 February 2024

Available online: 28 June 2024

Subject Heading: Banking

JEL Classification: G02, G21, R12

Pages: 1331-1359


Magomed R. TASHTAMIROV Kadyrov Chechen State University (Kadyrov CHSU), Grozny, Chechen Republic, Russian Federation


Subject. The article addresses the effectiveness of digital innovations in financial inclusion in the Southern Federal District of Russia.
Objectives. The aim is to assess the impact of digitalization on the process of financial inclusion in Southern Russia.
Methods. The study rests on the analysis of secondary data obtained from the Bank of Russia and regional financial institutions. These included quantitative data on the spread of banking networks, financial inclusion indices, and the adoption of digital financial services in Southern Russia. Furthermore, I conducted a survey of existing literature on financial inclusion and digitalization to provide context and theoretical background. I also applied descriptive statistical methods to identify and analyze patterns and trends in the data, and comparative analysis to assess regional differences in financial inclusion and digitalization in Southern Russia.
Results. The study revealed significant regional differences in the availability of digital financial services. The survey found a growing trend towards the adoption of digital payment methods, with a marked increase in the use of payment cards and mobile banking services. However, the pace of digitalization was uneven across regions, influenced by factors such as demographic structure, economic development, and cultural practices.
Conclusions. A customized approach that takes into account the unique socio-economic characteristics of each region is critical to bridging the digital divide in financial services. This study contributes to understanding the complex relationship between digitalization and financial inclusion in a region with diverse socioeconomic conditions, provides insight for policymakers and financial institutions on how to design strategies for inclusive and sustainable financial development.

Keywords: digitalization, financial inclusion, banking network, FinTech, financial accessibility


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