Banking Ecosystems in Russia: Development and Prospects

One of the most significant recent phenomena has been the development of banking ecosystems, which represent a new model of interaction between customers and banks. The topic of the article is relevant for the Russian banking sector, since the new technologies that have entered our lives, the digitalization of many spheres of society are inextricably linked with meeting various needs of economic entities, including the financial services sector. A clear trend in recent years has been the creation and development by the largest domestic banks of their own ecosystems, which allowed them to move away from providing customers exclusively with traditional banking products to a more diverse range of financial and non-financial services. The purpose of this work is to understand the Russian and international experience in creating and developing banking ecosystems. Since the 2020s, credit institutions have faced new challenges: the coronavirus infection pandemic and the introduction of sanctions restrictions, which necessitated the search for alternative ways to overcome products and markets that are "closed" to Russian banks. In the course of the study, we tried to identify the most promising practices for creating banking ecosystems, the application of which will be useful and possible in Russian realities.