The modern world is developing on the principle of American slides: the decline should be asked, and behind it is a new decline. The economy is changeable and sometimes resembles an extreme journey with an incomprehensible result at the end. In 2020, almost all industries of economic and social and social life were in a situation where one only question arises: what to do next? One of these industries is definitely the banking sector. Fortunately, many of the current risks associated with consumer demand, marketing policies, improving banking services and the products offered, can be managed. Russian financial companies are experiencing, to put it mildly, the newest decline caused by global economic and socio-political challenges, as well as a coronavirus pandemic.
One of such challenges with which almost all credit and financial organizations faced is to enhance competition in the banking market and services market, which is the main limiting the development of the banking system. Banking structures are in the active search for new and efficient sales channels, search for bona fide partners, seek to conduct a "improving" product line policies, modify banking services and mobile applications, offer more profitable interest rates and additional features.
In 2020, banks were forced to maintain the necessary balance between the marginality of their assets, on the one hand, and the preservation of the client base - on the other. It is also worth noting that the credit bureaus recorded the reduction in the number of applications from individuals to new loans, and the Central Bank noted the increase in the number of applications for the restructuring of existing loans. The combination of these two factors is to hit the profits of banks.
In the first decade of April, the number of applications for consumer loans decreased by 60% compared to the same period of 2019, on car loans - by 90%, for a mortgage - by 44%, for microcredits - by 44%, considered the National Bureau of Credit Stories. Despite everything, the net profit of banks for 2020 amounted to 1.6 trillion rubles. - Few (only 6%) less than in the pre-crisis of 2019 (1.7 trillion rubles), the Bank of Russia reported.
Therefore, banks now make up high competition in the struggle for each client. This can be observed by how banks react to the situation, namely: offer profitable financial products - credit cards with the return to the client of a certain percentage of the purchase amount, with the possibility of accumulating points for purchases or miles to acquire aviation or rail tickets, are constantly improving deleted Service channels, try to meet the requests of consumers, regardless of the current economic situation.
Another important point is a problem with ensuring security and the development of cybercrime. This is due primarily with the development of technologies. Of course, this is not one specific problem: a whole complex of threats and risks, for example, related to Deep Fake and biometric data. Also there are typical moments: let's say, kiberatas for infrastructure or software. There are problems associated with information security, such as information leakage inside the company.
The approach to solving the global task should be complex and complex. If we are talking about the most, the mainstream form of cybercrime - fraud with bank cards and customer operations, it is worth noting that, according to the Central Bank, only for the first half of 2020, more than 360 thousand unauthorized operations with the means of citizens committed without them were recorded Consent, the total damage amounted to approximately 4 billion rubles, of which banks returned to customers about 485 million rubles.
In this case, effective algorithms counteract frauds are universally introduced, for example, the financial transaction assessment system on the Internet for suspicion - AntiFraud, which consists of standard and unique rules and algorithms, filters and lists for which each transaction is checked. It is also worth mentioning the introduction of integrated models that allow you to conduct a surface or in-depth check of potential borrowers when applying - scoring or underwriting, respectively. This is an important point, because fraudsters are constantly being improved, and there is a need to use advanced and technological monitoring systems to minimize the risks of both financial and reputational.
Another important point is the fact that consumers become financially more competent, which in itself increases interest in high-quality products. For example, borrowers increasingly pay attention to the effective bid on the loan and actual overpayment. The interest of Russians to investment and financial products is growing, the demand for knowledge, honest and understandable information about what is happening in financial markets is growing behind it.
People no longer think that the stock market is something inaccessible, and bank products are something incomprehensible, which is not able to figure out simple mortals. Probably, now you can really talk about the trend for financial literacy. But the situation as a whole in the country, unfortunately, leaves much to be desired. And this is really a problem that contributes to an increase in the growth rates of fraudulent operations, for example, and in general, it affects the financial welfare of the country's population.
Today, several initiatives are being implemented in Russia, including under the auspices of the Ministry of Finance of the Russian Federation as part of the implementation of the National Project to increase financial literacy 2017-2023, approved by the Government of the Russian Federation on May 23, 2017. The project of the Ministry of Finance is aimed at ensuring the necessary institutional base and methodological resources of the educational community, the development of a complex of mechanisms for the interaction of the state and society in order to ensure the level of financial literacy and quality of financial education in Russia.
The situation is developing rapidly: there is a tightening of the selection criteria for both financial organizations in general and banking products in particular by Russians. Among such criteria it is worth allocating several basic. First of all, consumers are focused on brand recognition; Next, an important factor, if we are talking about a loan product, is the interest rate and the amount of monthly payments on credit products. Third, no less important, customer criteria are additional consumer properties as a product, so the Bank's infrastructure as a whole: how convenient the client's bank interface is enjoyed, the advanced application functionality, which payments can be carried out through a mobile application. The above abstracts confirm numerous consumer behavior studies.
Summing up, it should be noted the development of the reduced crisis phenomena for 2020, and this dynamics will also be preserved in 2021. Most likely, financial structures hope for vaccination that will contribute to both the restoration of the economy and the improvement of the financial welfare of citizens in particular, which in turn will have a positive effect on consumer demand for banking products, the steady rates of resumption of economic growth, which will be noticeable Spring 2021 years.
In general, the banking sector is expected, and not at the expense of traditional banking, but rather at the expense of other digital services and the development of financial ecosystems.