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Formation of a Development Strategy for Russian Banks in the Context of Digitalization

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Analysis reveals the need for strategic transformations in the Russian banking system, highlighting digitalization and FinTech competition.

Digitalization is crucial for the sustainable development of the Russian banking sector, necessitating transformation.
Key challenges include IT modernization, developing personnel competencies, ensuring cybersecurity, and integrating with digital ecosystems.
Technologies like artificial intelligence, big data, and cloud solutions can enhance banking operations and customer services.
Models of interaction between banks and FinTech startups vary from cooperation to acquisitions, boosting competitiveness.

Tavbulatova et al. (2025) studied this question.

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Analysis reveals the need for strategic transformations in the Russian banking system, highlighting digitalization and FinTech competition.