SHS Web Conf.
Volume 69, 2019The International Scientific and Practical Conference “Current Issues of Linguistics and Didactics: The Interdisciplinary Approach in Humanities and Social Sciences” (CILDIAH-2019)
|Number of page(s)
|25 October 2019
Innovative financial technologies as a factor of competitiveness in the banking
Department of Management and Service, Omsk State Technical University,
11, Mira av.,
2 Department of State municipal management and personnel management, Surgut State University, 1, Lenin av., 628403, Surgut, Russia
* Corresponding author: firstname.lastname@example.org
The models for the implementation and development of financial services and services are changing due to the global transformation of the financial and economic sphere, which is caused by the emergence of innovative financial technologies. This leads to a fundamental change in the financial market and the factors that determine the leading positions of its participants. Only the use of innovative technologies in the banking business ensures a high level of competitiveness in the market and further expansion of the client base. Banks are rebuilding traditional financial business models through cooperation with FinTech-industry, reforming business processes in areas such as banking services for individuals, lending and financing, payments, money transfers, asset management, currency exchange, insurance, blockchain transactions. The purpose of the article is to identify the main trends in the development of new financial technologies of banking. The authors identify the most important technologies that ensure the dynamic development of the global financial market and the fundamental transformation of the banking business in the past decade. In the article, the authors investigate the degree of their prevalence and the main areas of application in the field of banking, consider the successful practices of implementing of FinTech in the development of financial services.
© The Authors, published by EDP Sciences, 2019
This is an Open Access article distributed under the terms of the Creative Commons Attribution License 4.0, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
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