Digital Transformation of Companies in Russian Banking Sector (Marketing Aspect)

Over the recent years digital technology has become the key driver of any change in today’s world. Digitalization of banking sector allowed financial institutions to go through transformation of their business model and go beyond their traditional role with services and products provided. Integration of digital technology into business has led to new characteristics of organization today; it opens new possibilities for companies in improving their efficiency and productivity. The relation between technology and productivity results in additional customer value creation and improving customer experience. Results of this study demonstrate how core marketing practices of large innovative Russian banks are being transformed through digital transformation with the help of front line financial technologies and what their impact on bank’s overall performance is. The research findings can be interesting as for the future researches in compliant industries and for banks which are planning to introduce digital technology into their processes and go beyond their traditional business model.