Assessment of digitalization and technological development of VTB Bank (PJSC) in the form of an ecosystem

Abstract

The paper noted the relevance of the selected topic at present, related to the digital transformation of the bank using information technologies in early 2019. By the beginning of 2023, the financial institution sets a goal to change almost all of its IT-architecture. The traditional architecture of the national banking system was developed 15-20 years ago, and was designed based on the needs of banking sector participants, they were based on the development of a wide range of banking products and financial services, and the needs of customers and their service were not a condition for the development of the banking business. The world in the era of dynamic transformation of the banking business has changed, which involves the creation of a customer-centric business model and banking architecture. This model of the banking sector assumes that the client will use Internet platforms and services, which in turn should be convenient, intuitive, reliable and, which is not of little importance, personalized. The new architecture of the modern bank will increase the service speed several times and lead to a significant reduction in the costs associated with the introduction of banking products and financial services to the market.