Ecosystem Strategies of Retail Banks: A View of Russian Innovators

Abstract

The article raises the problem of filling the ecosystems of non-financial services created by the largest Russian banks. The relevance is determined by the controversial nature of the issue of combining banking and non-financial activities by credit institutions both at the level of the scientific community and the mega-regulator of the Russian financial market. The study was aimed to determine the factors stimulating the creation of ecosystems of non-financial services by banks, as well as the importance of multifunctional platforms for a single bank and the entire economy. The methods of theoretical systematisation and comparative analysis of Russian banking ecosystems are used. Based on the symbiosis of the economic, sociological and psychological approach, the main consumer trends, the reasons for their formation, the industries that have formed to meet the needs of users, as well as the opportunities for the banking sector have been formulated. The following phenomena of consumer behaviour have been highlighted: sharing economy, club consumption, status consumption, other consumption via digital channels. The main risks for banks are in the slowdown in the growth rate of demand for the most profitable products – mortgage and car loans, as well as in the rate of deposit inflow. Opening opportunities lie in the growth of the number of clients of banking Internet acquiring, POS credit financing, more extensive data collection for personalisation of offers, etc. The response to new competing traditional banks is the creation of investment (for example, Sberbank) or partner (for example, Tinkoff) ecosystems of non-financial services.