Digital Technologies in the Russian Banking Sector: Main Features and Associated Risks

The present paper features Russian loan banks that use new information and digital banking technologies. The research involved various methodological approaches, including a systematic approach to the analysis of modern banks. The method of comparative analysis made it possible to interpret various indicators of the activities of loan banks. The method of dynamic analysis helped to identify the main trends in the development of the Russian banking sector. The research objective was to identify the main trends and key problems in the digitalization of the Russian banking sector and the risks that accompany the process. The author believes that digital technologies will increase the country's competitiveness and boost its economic development. Digital economy involves the introduction of new technologies in the banking sector, e.g. e-money, digital signature, contactless payment, blockchain technology, the Internet of things, etc. The usual approaches to customer service are being replaced by advanced practices, as the traditional bank is gradually turning into a multifunctional IT company. However, cyber risks are also growing, and their management requires new approaches.