Digital Strategies for the Transnationalization of the Banking Business: International Experience and Russian Practices
https://doi.org/10.35854/1998-1627-2021-7-557-568
Abstract
Aim. The strengthening of globalization processes goes hand in hand with the intensification of international trade in goods and services, the structure of which depends on the decisive influence of new technologies that change the nature of cross-border cooperation. This determines the goals for studying the development of transnational banking with allowance for digitalization, which serves the purpose of maintaining economic relations at this level.
Tasks. The authors consider digital technologies in banking as a resource that ensures the successful implementation of banking strategies aimed at reaching the transnational level of operation.
Methods. This study uses theoretical and general scientific methods of systems, logical, structural, and comparative analysis.
Results. It is established that changes taking place in the transnational banking business are primarily associated with the decreasing growth of the banking sector in developed countries and the increasing financial influence of countries with transitional and developing economies, including Russia.
Conclusions. Based on a review of the international and Russian experience of digitalization in the banking sector, it is concluded that an efficient strategy for the development of transnational banking involves the integration of digital and non-digital resources. The goal of this process is to develop a brand-new service for providing access to innovative banking products and services, allowing the bank to remain competitive.
About the Authors
A. R. Akhmetova
Lomonosov Moscow State University
Russian Federation
Russian Federation
Adelina R. Akhmetova - Postgraduate Student, Faculty of Economics
1-46 Leninskie Gory, Moscow 119991
T. A. Subtselnaya
Lomonosov Moscow State University
Russian Federation
Russian Federation
Tatiana A. Subtselnaya - Postgraduate Student, Faculty of Economics
1-46 Leninskie Gory, Moscow 119991
References
1. Marchenkova L.M., Rudakova O.V. Multinational banks in global economics: Formation and development features. Vestnik OrelGIET = OrelSIET Bulletin. 2015;(1):122-129. (In Russ.).
2. Erturk I., Solari S. Banks as continuous reinvention. New Political Economy. 2007;12(3):369-388. DOI: 10.1080/13563460701485599
3. Borovinskii M.E. Modern trends in the development of transnational banks of Russian and foreign origin in the banking system of Russia. Nauka i obrazovanie: khozyaistvo i ekonomika; predprinimatel’stvo; pravo i upravlenie. 2013;(9):52-58. (In Russ.).
4. Kosov M.E. Transnational banks and their role in the global financial globalization. Finansovaya zhizn’ = Financial Life. 2018;(1):51-56. (In Russ.).
5. Beck T., Wagner W. Supranational supervision: How much and for whom? International Journal of Central Banking. 2016;12(2):221-268. URL: https://www.ijcb.org/journal/ijcb16q2a5.pdf (accessed on 20.05.2021).
6. Abalkina A.A. Forms and methods of expansion of Russian banks abroad. Den’gi i kredit = Russian Journal of Money and Finance. 2014;(3):22-26. (In Russ.).
7. HadadS., BratianuC. Dematerialization of banking products and services in the digital era. Management & Marketing: Challenges for the Knowledge Society. 2019;14(3):318-337. DOI: 10.2478/mmcks-2019-0023
8. Konina N.Yu. Transnational corporations as subjects of geo-economics. Ekonomicheskie nauki = Economic Sciences. 2017;(148):105-108. (In Russ.).
9. Pelletier A. Performance of foreign banks in developing countries: Evidence from sub-Saharan African banking markets. Journal of Banking & Finance. 2018;88:292-311. DOI: 10.1016/j.jbankfin.2017.11.014
10. Rozinskii I.A. Foreign affiliates and national interests. Voprosy ekonomiki. 2008;(5):36-50. (In Russ.).
11. Calzolari G., Lóránth G. Regulation of multinational banks: A theoretical inquiry. Journal of Financial Intermediation. 2011;20(2):178-198. DOI: 10.1016/j.jfi.2010.02.002
12. TCS Group reported for 2020, shares are losing 2%. BCS Express. Mar. 11, 2021. URL: https://bcs-express.ru/novosti-i-analitika/chistaia-pribyl-tcs-group-vyrosla-na-12-v-iv-kvartale-aktsii-teriaiut-2 (accessed on 20.05.2021). (In Russ.).
13. Russia is in the top 10 in the world in digital banking. Deloitte. URL: https://www2.deloitte.com/ru/ru/pages/research-center/articles/digital-banking-maturity-2020.html (accessed on 20.05.2021). (In Russ.).
14. Top 20 largest banks in the world in 2021. FXSSI. July 31, 2021. URL: https://ru.fxssi.com/top-20-krupnejshix-bankov-mira (accessed on 31.07.2021). (In Russ.).
15. Top 30 banks in the world. Kommersant. July 01, 2020. URL: https://www.kommersant.ru/doc/4398511 (accessed on 20.05.2021). (In Russ.).
16. Keeler D. Features: The world’s safest banks 2007. Global Finance Magazine. Oct. 01, 2007. URL: https://www.gfmag.com/magazine/october-2007/features--the-worlds-safestbanks-2007 (accessed on 20.05.2021).
17. Top banks in the world 2015. Banks around the World. URL: https://www.relbanks.com/worlds-top-banks/assets-2015 (accessed on 10.06.2021).
18. World Bank annual report 2020: Supporting countries in unprecedented times. Washington, DC: The World Bank; 2020. 106 p. URL: https://www.vsemirnyjbank.org/ru/about/annualreport (accessed on 10.06.2021).
19. ICT development index 2020: Proposal. ITU. URL: https://www.itu.int/en/ITU-D/Statistics/Documents/events/egh2020/IDI2020_BackgroundDocument_R.pdf (accessed on 10.06.2021). (In Russ.).
20. The Banker Database. URL: https://www.thebankerdatabase.com/ (accessed on 15.06.2021).
21. Information on operating credit institutions with the participation of non-residents as of January 1, 2021. URL: https://cbr.ru/Collection/Collection/File/32130/PUB_210101.pdf (accessed on 15.06.2021). (In Russ.).
22. Countries where VTB operates. VTB Bank. URL: https://www.vtb.ru/o-banke/press-centr/mediamaterialy/strany-prisutstviya-vtb/ (accessed on 15.06.2021). (In Russ.).
23. SberBank outside Russia. SberBank. URL: https://www.sberbank.com/ru/about/groupoverview (accessed on 15.06.2021). (In Russ.).
24. Geographical presence. Alfa Bank. URL: https://alfabank.com/corporate-profile/about-us/geographical-presence/ (accessed on 15.06.2021).
25. Foreign representative offices. Gazprombank. URL: https://www.gazprombank.ru/about/international/ (accessed on 15.06.2021). (In Russ.).
26. Bank participation. Russian Agricultural Bank. URL: https://www.rshb.ru/about/sharing/(accessed on 15.06.2021). (In Russ.).
27. Rating of Russian banks: Key indicators as of October 1, 2020. Kommersant. “Bank” suppl. 2020;(226). URL: https://www.kommersant.ru/doc/4603509 (accessed on 15.06.2021). (In Russ.).
28. Leaders have changed in the rating of Russian banks by the level of digitalization. Banki. ru. Sept. 28, 2020. URL: https://www.banki.ru/news/lenta/?id=10934160 (accessed on 15.06.2021). (In Russ.).
Review
For citations:
Akhmetova A.R., Subtselnaya T.A. Digital Strategies for the Transnationalization of the Banking Business: International Experience and Russian Practices. Economics and Management. 2021;27(7):557-568. (In Russ.) https://doi.org/10.35854/1998-1627-2021-7-557-568
Views:
270
