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Digitalization of regional banks: Is it a perceived need or a tribute to fashion?

Zver'kova T.N. Orenburg State University, Orenburg, Russian Federation ( tnzverkova@mail.ru )

Zver'kov A.I. Orenburg State University, Orenburg, Russian Federation ( orenbank@bk.ru )

Journal: Finance and Credit, #2, 2019

Subject Nowadays, under aggressive promotion of digital products by banks and digital technology companies, medium and small regional banks express a strong interest and willingness to move towards digitalization. They also make attempts to automate remote banking services and search for new areas and financial investments in digital transformation.
Objectives The study aims to summarize and systematize the existing approaches to the definition of digitalization and define its key components and areas, to investigate the possibilities of regional banks to change their business models with regard to digital transformation and searching for possible forms of partnership with financial technology companies.
Methods The study draws on methods of comparison, analysis and synthesis, expert evaluation, and generalization.
Results At present, regional banks do not have financial resources and technological capabilities to go digital. Medium-sized and small banks will have to either specialize in certain areas of digital banking intermediation or merge with other banks orFintech startups.
Conclusions It is crucial for regional banks to focus on transition from primitive forms of banking products to standardized, renewable customer-oriented digital products and services, rather than to aim at blind following the all areas of digitalization.


Financial intermediaries: functions, stages and motives of expansion

Zver'kov A.I. Orenburg State University, Orenburg, Russian Federation ( orenbank@bk.ru )

Zver'kova T.N. Orenburg State University, Orenburg, Russian Federation ( orenbank@bk.ru )

Journal: Financial Analytics: Science and Experience, #37, 2014

Importance The study of the current state of the domestic financial intermediation and correlation of the results obtained with the stages of economic development allow determining the stage of the development of the domestic financial and banking sectors, outlining the approaches to overcome the development gap from the world leaders.
     Objectives To understand the reasons of the negative phenomena in the economy, and in the financial and banking sectors, we intended to find and justify the features characterizing the level of development and forms of financial intermediation, to link them with the economic development stages.
     Methods In the paper, based on the study of the financial intermediation institutions functions, we analyze various aspects of the emergence and development of financial intermediaries and change of their functions. The study of financial intermediation conducted in terms of their functions is most commonly used for the financial intermediaries, since their functions are more stable in contrast to the institutions that are changing under the influence of competition or financial innovations.
     Results The study of the basic stages of the economic development allows to select the periods of emergence and development of financial intermediation and the corresponding expansion motives, when each stage of development corresponds to their function, form of expansion that allow to understand the reasons of the weak involvement of the domestic intermediaries in the value chain creation, and their presence at the level of the exchange fund.
     Conclusions and Relevance The domestic intermediaries participate in the creation of the new value by means of the simple (primitive) exchange operations without being able to accumulate their own resources to engage in investment business. The theoretical prerequisites of the study of the financial intermediaries, which we define in the paper, allow to identify their essential features, identify and classify the main approaches to the study, to determine the sequence of formation of expansion motives for the follow-up studies.


Regional banks and financial technology: Confrontation or cooperation?

Zver'kova T.N. Orenburg State University, Orenburg, Russian Federation ( tnzverkova@mail.ru )

Journal: Finance and Credit, #12, 2018

Subject This article deals with the issues of search of new areas of cooperation of regional banks and FinTech-companies in order to improve and personalize customer services.
Objectives The article aims to analyze the current situation in the banking market in terms of competition between credit institutions and FinTech-companies. The article also explores the capabilities of regional banks to change the business model to cooperate with FinTech.
Methods For the study, I used the methods of expert assessment and generalization.
Results The article says that at present, the regional banks lack financial resources and technological facilities to compete with FinTech-companies in the delivery of financial services. Regional banks can only adopt a cooperation strategy as a basis for partnership.
Conclusions Regional banks should not only adhere to all lines and areas of financial technology development. They need to concentrate on the development and customization of customer services, providing customers with well-thought-out individual solutions and recommendations using various interaction channels.


Regional banks: Historical experience and modernity

Zver'kova T.N. Orenburg State University, Orenburg, Russian Federation ( tnzverkova@mail.ru )

Journal: Financial Analytics: Science and Experience, #8, 2017

Importance The paper studies the problems of regional banks' development and the role of regional banks. Several initiatives were put forward from identification of a regional bank as an independent type of bank and to creation of a multi-level system of banks with basic licenses.
Objectives The paper aims to consider the place and role of regional banks in the development of regional economies on the basis of a comparison of the historical stages of their development.
Methods For the research, I used a comparative-historical method and an analysis of statistical data.
Results The paper determines an urgent problem of creation of a multi-level banking system and examines the development of Russian city public banks, which are the prototypes of modern regional credit organizations.
Conclusions The legislative approach to bank division depending on the capital stock does not create a new banking structure. The creation of a multi-level banking system is still a topical problem. In determining the status of a regional bank, not only should the optimum size of capital and the list of operations be considered, but legislate approaches to the strategies and business models implemented by such banks, as well.


Regional Banks & FinTech: A Standoff or Partnership?

Zver'kova T.N. Orenburg State University, Orenburg, Russian Federation ( tnzverkova@mail.ru )

Journal: Digest Finance, #1, 2019

Subject The rise of innovative financial technology and blockchain intensified debates about refocusing the financial market’s needs and FinTechs substituting traditional banks. The competition for clients moved to the digital level. Traditional banks are forecasted to step down gradually. Major banks announced changes in their business models to establish the partnership relations with fintech companies and surround themselves with the ecosystem of services. However, Russia has still been waiting for the technological boom. Considering limited financial resources, regional banks need to look for new aspects for cooperating with fintech companies.
Objectives The research analyzed the existing situation in the banking market in terms of the competition of credit institutions with fintech companies. I study what opportunities regional banks have to reshape their business models and set partnership relations with fintech companies.
Methods The research relies upon methods of expert assessment and generalization.
Results Currently, regional banks have no financial resources and technological capabilities to compete with fintech companies. The cooperation strategy may help them survive in the situation.
Conclusions and Relevance Regional banks should not stick to each aspect of FinTech development, but rather focus on the expansion and customization of the customer services, delivery of tailor-made solutions and recommendations through various communication means.


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