Level of digitalization of the domestic banking sector is very high. In general finance — one of those industries in which digitalization Russia practically does not lag behind the most developed economies of the world. TAdviser learned what situation in this market as of the end of 2019 and as it is estimated by experts of the IT companies (in more detail...)
- Priority of technology initiatives of the regulator
- Large banks - leaders of digitalization
- Fixing and development of already mastered technologies
- Serious innovations require serious resources, but all have them not
- the Largest players of the IT market for banks
Total revenue of 30 largest players of the IT market for banks at the end of 2018 exceeded 134 million rubles, having increased by 8.9%. Nearly 64% of total sales of Top-30 fall to the share of five key participants of rating.
|№ 2018||№ 2017||Company||Revenue from IT projects in banks in 2018, million rubles including VAT||Revenue from IT projects in banks in 2017, million rubles including VAT||Loudspeaker 2018/2017, %|
|1||-||Center of Financial Technologies (CFT)||22,600||20,500||10.2|
|*||4||Jet Infosystems *||12,323||10,128||21.7|
* - these companies are added after the publication of rating without assignment of a position
In 2019 key trends of bank informatization are connected with need of data management, development of intellectual technologies and also digitalization of channels of customer service. These three trends are mentioned more often than others. In more detail about them and other trends read here.
- 1. Data management
- 2. Penetration of technologies of robotization of processes and elements of artificial intelligence
- 3. Digitalization of channels of customer service
- 4. Protection against cyberthreats
- 5. Open source of the platform
- 6. Web solutions for internal processes of bank
- 7. Regulatory technologies
- 8. New business models
- 9. Development of bank insourcing
- 10. Outstaffing growth
The relevance of subject of security of applications speaks for itself: according to Positive Technologies each banking application investigated in 2018 had risks of unauthorized access to personal data of clients, to a bank secrecy and potentially allowed the malefactor to perform fraudulent transactions and theft of money. The key reason of they are errors of business logic of systems and vulnerability of the code.
Against the background of the growing activity of cybercriminals banking organizations even more often ask a question of a possibility of the operational and automated analysis of vulnerabilities of the applications. And recently quite often there is also a question of compliance to requirements of OUD4 GOST 15408-3. It is connected with fast (since January 1, 2020) entry into force of relevant provisions of the Bank of Russia. However many still not up to the end represent how to carry out the analysis of the application what checks need to be executed what vulnerabilities at the same time should be analyzed and that is confirmation of the carried-out analysis for the regulator.
Poll of 25 banks entering TOP 100 of the largest financial institutions of the Russian market showed that 75% from them already began or are going to use open API. More than 70% of banks expect from the regulator of development of standards and recommendations in this area. Development of API is interfered by the risks of leakage of confidential data and concerns connected with unauthorized use of open information. The Russian IT companies have necessary competences and are ready to help banks to carry out API transformation.
The research of perspectives of open API in the domestic financial sector was based on poll of 25 banks entering TOP 100 of the Russian market. Read more here.
In October, 2019 TAdviser conducted survey of the Russian experts - representatives of the IT companies specializing in projects in banking sector and learned what IT-Innovations, according to them, can "shoot" in the next two years. As it appeared, most of experts do not wait for any revolutionary innovations in banks in the short term, connecting it both with overregulation of the industry, and with need of big investments into serious innovations. According to them, banks in the next years will optimize costs and to invest more pedantically in IT. For most the Russian banks this period will be characterized by evolutionary development of what they already have.
The following tactical calls can significantly influence further development of innovations: need of growth in the conditions of toughening of regulatory requirements, the changing competitive environment and new customer requirements. Creation of a successful "innovation" product for bank, specialists note, lies in the plane of synergy of the different technology trends creating long-term competitive advantage. This is, for example, the digital financial adviser, speech technologies, biometrics, open bank platforms, etc.
- Tools for customer retention and sales increase
- Development of robotization of business processes and artificial intelligence technologies
- Preventive platforms of security
- Development of the systems of identification
- Speech analytics
- Technologies of the distributed register
- Development of the systems of fast payments
- Services on the basis of a 5G
- Open digital bank platforms
- RCPM platforms
- Partial transfer of function of MFC to banks
- Non-commercial offers to clients
The analytical center TAdviser issued the "Information Technologies in Bank" card on which it reflected structure of key processes of banking business and noted the IT companies developing products and rendering services for digitalization of these processes. The card is focused on bank IT heads and can serve as the help tool when choosing product providers and services in digitalization of business processes and also in ensuring their information security.
The card covered nearly 300 players of the market – 250 suppliers of the IT products applied to digitalization of basic processes of banking activity and more than 40 developers of solutions for information security support.
Digital transformation increases quality, speed of interaction of consumers of financial services and financial institutions, but at the same time creates additional risks. Speaking about problems of IT security of banks, domestic experts most often mention such tasks as need of data protection, fight against fraud and counteraction to the purposeful attacks.
- Information technologies in Sberbank
- Big Data of Sberbank grows at mad rates. How this supermassive is stored and used?
- Information technologies in VTB Group
- Blockchain in Russia
- Perspectives a blockchain in the Russian banking sector
- Information security in banks
- Cyber security in the Russian banks: research of VMware and TAdviser
- National Biometric Platform (NBP)
- Single Biometric System (SBS) of these clients of banks
- Biometric identification (market of Russia)
- Digital transformation of the Russian banks
- The policy of the Central Bank in the field of data protection (cyber security)
- Losses of banks from cyber crime