DIGITALIZATION AS A FACTOR IN INCREASING THE COMPETITIVENESS OF CREDIT AND FINANCIAL SECTOR ORGANIZATIONS
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Author(s): | Prokhorov E. S., |
| Number of journal: | 3(76) | Date: | September 2026 |
| Annotation: | Digitalization has actively penetrated into all spheres of state and public life, and the credit and financial sector of the economy is no exception. Enterprises in the banking sector are implementing digitalization tools in their activities: big data, cloud storage, artificial intelligence technologies, and others. The use of digital technologies by financial organizations acts as a basis for the growth of their competitiveness, allowing them to increase financial results and reduce the costs of their activities. The article analyzes the impact of digitalization as a factor in the growth of competitiveness of credit and financial sector organizations. The concepts of digitalization and digitalization of credit and financial organizations are formulated; some possibilities of digitalization and their application by banking organizations are described, including identity verification, personalization of financial products and services, and others. The advantages and disadvantages of using some digital technologies in banking are considered. Thus, among the advantages of using digitalization tools by credit and financial sector institutions are mentioned faster service, improved personalization of products and services, and increased accessibility of banking services to the public. At the same time, the intensive use of digital tools is associated with a number of disadvantages: the risk of data leakage, insufficient digital literacy of users, and incomplete coverage of the technologies used by the legal regulation system. Various ratings of the implementation of digitalization in the activities of the largest commercial banks are analyzed: digital maturity, the quality of the digital experience of web versions, the quality of daily tasks and the digital office in mobile banks. The conducted research allowed us to determine the relationship between the size of the profit of a financial organization and the level of digital tools implementation in its activities. | ||
| Keywords: | competitiveness, banking sector, digitalization, digital technologies, artificial intelligence, competitiveness factors, credit and financial sector, Sberbank of Russia, performance indicators, competitiveness assessment |
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| For citation: | Prokhorov E. S. Digitalization as a factor in increasing the competitiveness of credit and financial sector organizations. Biznes. Obrazovanie. Pravo = Business. Education. Law. 2026;3(76):140—145. DOI: 10.25683/VOLBI.2026.76.1728. |
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