Finance and Credit

Abstracting and Indexing

Referativny Zhurnal VINITI RAS
LCCN Permalink
Google Scholar

Online available



Cyberleninka (12 month OA embargo)

Regional banks and financial technology: Confrontation or cooperation?

Vol. 24, Iss. 12, DECEMBER 2018

Received: 16 October 2018

Received in revised form: 31 October 2018

Accepted: 14 November 2018

Available online: 24 December 2018

Subject Heading: Banking

JEL Classification: G21

Pages: 2771–2782

Zver'kova T.N. Orenburg State University, Orenburg, Russian Federation

Subject This article deals with the issues of search of new areas of cooperation of regional banks and FinTech-companies in order to improve and personalize customer services.
Objectives The article aims to analyze the current situation in the banking market in terms of competition between credit institutions and FinTech-companies. The article also explores the capabilities of regional banks to change the business model to cooperate with FinTech.
Methods For the study, I used the methods of expert assessment and generalization.
Results The article says that at present, the regional banks lack financial resources and technological facilities to compete with FinTech-companies in the delivery of financial services. Regional banks can only adopt a cooperation strategy as a basis for partnership.
Conclusions Regional banks should not only adhere to all lines and areas of financial technology development. They need to concentrate on the development and customization of customer services, providing customers with well-thought-out individual solutions and recommendations using various interaction channels.

Keywords: regional bank, financial technologies, FinTech company


  1. Vigna P., Casey M.J. Epokha kriptovalyut. Kak bitkoin i blokchein menyayut mirovoi ekonomicheskii poryadok [The Age of Cryptocurrency: How Bitcoin and the Blockchain Are Challenging the Global Economic Order]. Moscow, Mann, Ivanov i Ferber Publ., 2018, 432 p.
  2. Rickards J. Zolotoi zapas. Pochemu zoloto, a ne bitkoiny – valyuta XXI veka? [The New Case for Gold]. Moscow, Eksmo Publ., 2017, 192 p.
  3. Swan M. Blokchein. Skhema novoi ekonomiki [Blockchain: Blueprint for a New Economy]. Moscow, Olimp-Biznes Publ., 2017, 240 p.
  4. Chishti S., Barberis J. Fintekh: Putevoditel' po noveishim finansovym tekhnologiyam [The FINTECH Book: The Financial Technology Handbook for Investors, Entrepreneurs and Visionaries]. Moscow, Al'pina Pablisher Publ., 2017, 676 p.
  5. Morozko N.I., Didenko V.Yu. Osnovnye trendy razvitiya industrii finansovykh tekhnologii: monografiya [The main trends in the development of the financial technology industry: a monograph]. Moscow, Rusains Publ., 2017, 176 p.
  6. Pertseva S.Yu., Kopylov D.A. [The Basics of Fintech Industry and Implementation of Its Principles in the Case of Payments and Transfers Segment]. Problemy natsional'noi strategii = Problems of National Strategy, 2018, no. 4, pp. 186–195. URL: Link (In Russ.)
  7. Bakhareva A.A. [Prospects for the development of the banking sector in the context of the introduction of modern financial technologies]. Simvol nauki, 2017, vol. 1, no. 1, pp. 12–14. URL: Link (In Russ.)
  8. Maslennikov V.V., Fedotova M.A., Sorokin A.N. [New financial technologies change our world]. Vestnik Finansovogo universiteta = Finance: Theory and Practice, 2017, vol. 21, no. 2, pp. 6–11. URL: Link (In Russ.)
  9. Sinkey J.F. Finansovyi menedzhment v kommercheskom banke i v industrii finansovykh uslug [Commercial Bank Financial Management in the Financial Services Industry]. Moscow, Al'pina Pablisher Publ., 2017, 1018 p.
  10. Milovidov V.D. [Big Data in the capital market: is there an advent of a new age of financial services?]. Strakhovoe delo = Insurance Business, 2016, no. 10, pp. 11–20. (In Russ.)
  11. Milovidov V.D. [Information Asymmetry and Big Data: Should Financial Market Paradigm Be Revised?]. Mirovaya ekonomika i mezhdunarodnye otnosheniya = World Economy and International Relations, 2017, vol. 61, no. 3, pp. 5–14. (In Russ.) URL: Link
  12. Milovidov V.D. Filosofiya finansovogo rynka [Philosophy of the financial market]. Moscow, Magistr Publ., 2013, 272 p.
  13. Pertseva S.Yu. [FINTECH: Mechanism of Function]. Innovatsii v menedzhmente = Innovations in Management, 2017, no. 12, pp. 50–53. URL: Link (In Russ.)
  14. Pogosyan A.M. [Innovative payment instruments in the digital economy]. Nauchnye zapiski molodykh issledovatelei = Scientific Notes of Young Scientists, 2017, no. 3, pp. 63–67. URL: Link (In Russ.)
  15. Dorokhin N.E. [Forming an institutional model for alternative financing]. Ekonomika: vchera, segodnya, zavtra = Economics: Yesterday, Today and Tomorrow, 2018, vol. 8, no. 2A, pp. 139–146. URL: Link (In Russ.)
  16. Usoskin V.M., Belousova V.Yu., Kozyr' I.O. [Financial Intermediation in a New Technology Environment]. Den'gi i kredit = Russian Journal of Money and Finance, 2017, no. 5, pp. 14–21. (In Russ.)
  17. Nikitina T.V., Nikitin M.A., Gal'per M.A. [The role of FINTECH segment companies and its place on the financial market of Russia]. Izvestiâ Sankt-Peterburgskogo gosudarstvennogo èkonomičeskogo universiteta, 2017, no. 1-2, pp. 45–48. URL: Link (In Russ.)
  18. Ruchkina G.F. [Banking activity: transfer to new operation model or FINTECH as new reality]. Bankovskoe pravo = Banking Law, 2017, no. 4, pp. 55–62. (In Russ.)
  19. Doerig Hans-Ulrih. Universal'nyi bank – bank budushchego. Finansovaya strategiya na rubezhe veka [Universal Bank – The Bank of the Future. Financial Strategy at the Turn of the Century]. Moscow, Mezhdunarodnye otnosheniya Publ., 1999, 384 p.

View all articles of issue


ISSN 2311-8709 (Online)
ISSN 2071-4688 (Print)

Journal current issue

Vol. 25, Iss. 2
February 2019