DIGITALIZATION AS A COMPONENT OF THE MARKETING AND COMPETITIVE STRATEGY OF A MODERN COMMERCIAL BANK

The digitalization of the banking industry, as well as the digitalization of the economy as a whole, is currently becoming the main competitive advantage among commercial banks. The current state of the Russian banking system is associated with certain problems in the economy resulting from the influence of macro factors on the functioning of the financial market as a whole. The banking sector development strategy is based on the principle of preserving and strengthening the market positions of banks. Modern conditions for conducting banking business, the emergence of new market niches in the banking services market, the introduction of new technologies increase banking competition in the market. Competitiveness implies the ability of banks to work effectively in the banking environment, which is achieved through the constant use of innovations to create competitive advantages for their products and services in the market. The paper highlights three key areas of digital transformation and their impact on the competitive position of banks. Much attention in the article is paid to identifying the strengths and weaknesses of the marketing activities of commercial banks in the interbank market. It is noted that the information development of technologies and innovations greatly affects the competitiveness of banks, and also change their business models, transferring banks to platform business resources. The article describes the conditions for maintaining the competitiveness of banks: in addition to innovations and innovations, the need for the formation and development of systems for collecting, accumulating and managing information about bank customers is considered. The directions for the development of digital technologies in the marketing activities of commercial banks are substantiated, the basis of which is not only the latest digitalization technologies, but also entrepreneurial ideas marketing strategies that will help banks strengthen their competitive advantages in comparison with non-bank intermediaries.

digitalization of banking, commercial banks, bank competitiveness, financial technologies, customer loyalty, banking reputation, bank strategy, bank marketing, digital technologies, bank marketing activities, digital transformation

Melnikova N. S., Bykanova N. I., Yuryev V. D., Avakova A. A. Digitalization as a component of the marketing and competitive strategy of a modern commercial bank. Biznes. Obrazovanie. Pravo = Business. Education. Law. 2023;2(63):24—30. DOI: 10.25683/VOLBI.2023.63.591.