The current state of Russian banking business in the digital space

Introduction. In the context of the rapid growth of digital technologies, the banking business in Russia faces unique challenges that require careful analysis and search for optimal solutions. Digitalization is having a significant impact on the financial sector, transforming traditional customer service methods and posing new challenges for banks. Goal. The study aims to identify problems and solutions to the development of banking business in the digital space. Materials and methods. To study the problems of banking business in the digital space, data from Rosstat and the Central Bank were taken; strategic research of the Russian market for business process automation; and also took into account the costs of the Russian financial sector for digitalization at the end of 2023. Results and discussion. The study presents a modern quotation analysis of the definitions “digital banking”, “digitalization”. A classification of the Russian banking business by types of digitalization models is presented. The grouping of banking business by type of ownership is given for 2020-2024 the downward trend of banks in Russia is presented. Measures taken by digital banks to ensure cybersecurity are identified. Conclusion. Based on the results of the study, it can be to state that the banking business in the digital space of Russia faces a number of serious problems, including cyber threats, regulatory difficulties, competition and the need to adapt to new technologies. A comprehensive approach to solving these problems will ensure the stable development of the banking business in the digital space of Russia, creating new opportunities for growth and improving the quality of customer service.