ASSESSMENT OF DIGITAL TRANSFORMATION TRENDS IN THE FINANCIAL INDUSTRY 

Shirinkina Elena Viktorovna, candidate of economic sciences, associate professor, head of sub-department of management and business, Surgut State University (628426, 1 Lenin avenue, Surgut, Russia), E-mail: shirinkina86@yandex.ru 

338.45:622.3 

10.21685/2307-4205-2019-2-13 

Background. The relevance of the research carried out in this article is due to the fact that the digital revolution is undermining the foundations of the banking system and confronting traditional players with the need for radical reforms. The object of this study is the global trends in the digital development of the financial industry, because their correct interpretation will help to work out ways to improve the level of digitalization that contributes to the rapid implementation of transformations.
Matherials and methods. The study of trends in the digital transformation of the financial industry used data from the World Bank, a McKinsey study of a survey of retail customers of the banking sector, analytics from the Sberbank Corporate University, IBM data, data from the International Financial Literacy Rating of the Organization for Economic Cooperation and Development (OECD).
Results. The analysis showed: 1) according to the penetration of remote banking services, Russia lags behind the most developed markets by 4–6 years; however, at the same time, the segment of banking customers using remote access is actively developing in Russia; 2) in Russia, sales of banking services in digital channels are not sufficiently diversified. One of the obstacles to the rapid spread of digital channels of banking services is the low financial literacy of Russians and distrust of non-cash payments; 3) in Russia, the penetration of remote banking services lags behind the penetration of the Internet, which indicates the potential for its further growth.
Conclusions. In the conditions of further development of the FINTECH sector and the spread of digital technologies, traditional banks have several possible ways of development. The most universal development option is the transformation of traditional banks into fully digital ones, which provide a wide range of classic financial products and services. 

digitalization, financial industry, banking system, digital competencies, assessment, trends