Assessment of the Level of Development of Digital Technologies in the Banking Sector

Author Name(s): Ajdar A. Ajupov, Aliya A. Ahmadullina, Rais M. Belyaev, Anastasia I. Sizova
Author Email:


The banking system is of paramount importance for a market economy, because thanks to banks, the function of an intermediary is performed, and financial resources are distributed among the business entities. A key element of the banking system is its infrastructure. Banking is recognized as a commercial activity, that is, aimed at obtaining a certain profit, therefore the main, fundamental characteristic of its activity is the effective use of assets. Consequently, as long as there are banks and banking operations, there will always be topical tasks of braving the bank’s infrastructure, and today digitalization.


Digitalization is changing our world by the standards of geometric progression. In other words, the geometric progression becomes a new proportion of linear development. While most are only now beginning to understand the scale, a new factor has entered the game, which introduces another disproportionately more influential wave of transformations – artificial intelligence (Artificial Intelligence or AI). This is not about fantasies taken from a popular science film or literature, but about the specific use of artificial intelligence in important areas of human life. At the moment, it becomes obvious the need to update the primary values of our society. Society and politicians should pay attention to these changes, introduce new standards for coexistence in the modern, digital world. This is the only way to achieve freedom, justice, and solidarity in the 21st century, as well as deliver informational progress in the banking sector and in society [3].


An important feature of the sector is efficiency, accuracy and work with a huge amount of information that should be stored and protected. For more efficient and faster promotion of their products and services, credit organizations use the latest developments in the field of IT. The key tasks today are a competent approach to the choice of software and hardware solutions, an adequate methodology for managing all the systems of the organization, ensuring the continuity of their work and security, and today digitalization helps us. The prospects for the development of the banking sector are largely connected with the improvement of the methods of carrying out banking activities based on advances in information technology. In this regard, we believe that the development of the IT technologies market of the banking sector in the Russian Federation is one of the important factors influencing the transition of the entire banking sector to a predominantly intensive development model [11]. IT technology today is the main tool for the development of not only the banking sector, but also all areas of human activity, education, medicine, construction and much more. Consequently, the development of IT infrastructure is one of the main stages of development of banks in the 21st century, as the world has become more dynamic compared to the past and the amount of information is increasing exponentially every year, the old methods of transmitting, storing and processing information have become little effective and financially costly. The world is committed to the next stage of development, where paper carriers will perform a minimum of tasks and everything will be stored on cloud data, on the Internet.[12,13]

782 total views, 1 views today

Download PDF File

About the author: admin