ISSN 2409-7616

Mashkina N.A., Sergeeva V.Yu.



UDC 336.71

Mashkina N.A.1 (Kursk, Russian Federation) – E-mail:, Sergeeva V.Yu.1 (Kursk, Russian Federation) – E-mail:

1Southwest State University

Abstract. The article examines the main financial technologies used to service individuals and legal entities on the example of the Central Black Earth Branch of Expobank LLC. Currently, an important process inextricably linked with the formation of a modern information society is digitalization. This process continues to actively affect the economic sphere, including the banking sector, annually introducing new technologies, thereby improving the speed and quality of the provision of financial services to the population. In the short term, the share of the use of innovative financial technologies will only increase, which will lead to the development of more improved models or new solutions and accelerate the transformation of the country’s economy. On the example of Expobank LLC, a promising Central Black Earth Branch in terms of application of innovations, the technologies used by modern banks for customer service were considered, the main directions of the strategy of the legal successor of the credit institution were studied, and recommendations on the use of financial technologies for the bank branch were proposed. The aim of the study is to assess the degree of implementation and use of innovations in the Central Black Earth Branch of Expobank LLC. The research methods that were used in the research process were economic and statistical methods and comparison methods. The tasks of the work are to highlight promising directions in the development of new technologies, as well as to identify the problems that a credit institution is facing at the moment. The result of the work was the development of recommendations on the use of financial technologies for the investigated credit institution. The main conclusion of the work is the conclusion that digitalization of banks is an important factor in the transformation of the Russian economy, which determines the competitiveness of credit institutions in modern conditions. This is due not only to the onset of the era of Industry 4.0, but also to the long continuation of the period of the pandemic, which also contributed to the growth of the use of remote service methods, their additional improvement and the development of the latest financial technologies that allow performing work without interruption regardless of the prevailing conditions in the country and the world.

Keywords: digitalization, innovation, financial technology, banking sector, commercial bank.


  1. Andreeva N.V., Ermosh E.V. Application of digital technologies in the banking sector of the economyю Bulletin of the Academy of Knowledge, 2020, no. 37 (2), pp. 415-418. (In Russian). URL:
  2. Bespalova O.V., Khokhlova M.M. Development of the banking sector in the Russian Federation in the context of the digitalization of the economy. Economics. Sociology. Right, 2019, no. 2 (14), pp. 21-26. (In Russian). URL:
  3. Borkova E.A., Osipova K.A., Svetlovidova E.V., Frolova E.V. Digitalization of the economy on the example of the banking system. Creative Economy, 2019, vol. 13, no. 6, pp. 1153-1162. DOI: 10.18334/ce.13.6.40734
  4. Polyakova T.N., Belyaeva E.S., Belyaeva O.V., Development of fintech as a challenge for traditional banking. Madrid, IBIMA Publ., 2019. pp. 11966-11974. (In Russian) (In Russian). URL:
  5. Mashkina N.A., Belyaeva E.S., Polyakova T.N., Innovative technologies at the modern stage of activity of russian commercial banks. Madrid, IBIMA Publ., 2020, pp. 13507-13514. URL:
  6. Ivleva M.I. Trend of digitalization of the banking industry. Young scientist, 2020, no. 2 (292), pp. 268-270. URL:
  7. Kolmykova T.S., Sergeeva V.Yu. Features of the development of the regional banking system in the context of digitalization of the economy. News of the South-West State University. Series: Economics, Sociology, Management, 2020, no. 5, pp. 48-60. (In Russian). URL:
  8. Korotkov V.V. Analysis of mergers and acquisitions in the fintech start-up market.  Economics and business: theory and practice, 2020, no. 5-3 (63), pp. 44-49. (In Russian). URL:
  9. Levchenko LV, Silantyev Yu.S. Modern trends in the Russian banking sector.  Issues of Economics and Law, 2020, no. 4 (142), pp. 54-55. (In Russian). URL:   
  10. Lepeshkina E.D., Popova S.A., Chekhovskaya I.A. Actual problems and prospects for the development of the banking sector in Russia. Innovative science in a globalizing world, 2019, no. 1 (9), pp. 41-43. (In Russian). URL:
  11. Mashkina N.A., Agarkova V.E. Application of innovative technologies in the activities of banks. CITISE, 2020, no. 1 (23), pp. 216-225. (In Russian).
  12. Orlova A.A. Development of digital banking: neobanki / A.A. Orlova / Innovations in management, 2019, no. 3 (21), pp. 66-73. (In Russian). URL:
  13. Ojeniyi J.A., Edward E.O., Abdulhamid S.M. Abdulhamid Shafii M. Security Risk Analysis in Online Banking Transactions: Using Diamond Bank as a Case Study. International Journal of Education and Management Engineering, 2019, vol. 9, no. 2, pp. 1-14. URL: 
  14. Oteshova A.K., Prodanova N.A., Melekhina T.L. Trends in the Development of the Commercial Banking System in a Market Economy. Webology, 2020, vol. 17, no. 1, pp. 315-332. URL:  
  15. Polyakova T.N. Prospects for traditional banking in the development of information and financial technologies. News of the South-West State University. Series: Economics, Sociology, Management, 2019, no. 4, pp. 126-139. (In Russian). URL:

For citation:

Mashkina N.A., Sergeeva V.Yu. Features of application of digital technologies in banking. CITISE, 2022, no. 1, pp.78-90. DOI: