Innovative banking technology as the factor of competitiveness of Russian commercial banks

Under conditions of the consequences of financial crisis the competition in the bank market is strengthened. It requires special flexibility and maneuverability of activity from banks. The Russian banking system is still young, but, in spite of this, it actively develops and has good prospects. So as to achieve maximum effect with banks at this stage of development it is necessary to orient its activity towards the satisfaction of the needs of clients. The application of innovative banking technology is one of the factors that increase competitive ability for a bank. In this article the author makes an attempt to analyze the influence of the factor on the competitive ability of the Russian banking sector.

interbank competition; competitiveness of a bank; bank services; innovations in the banking sector; bank technology; mobile banking; banking market; bank; banking system; commercial bank