Introduction of Innovative Technologies in the Activities of Russian Banks as a Factor of Increasing Their Competitiveness

   Relevance. The active introduction of digital technologies in the financial sector is most clearly manifested in the banking business. As the most important sector of the economy, the financial sector is always testing the most progressive solutions, therefore, financial innovations are aimed at providing individual and high-quality service while reducing costs, both on the part of the bank and on the part of customers. The use of innovative technologies makes it possible to increase the competitiveness of banking products and services, and also transforms the features of their creation and distribution. The demand for a banking product or service is based on competitiveness, technical innovation, customer focus and forms the image of the bank itself. Competitive advantages in the banking sector are mainly provided by minimizing costs, product line differentiation, focusing on a specific client segment.
   The purpose of the work is to consider the features of the introduction of innovative technologies in the activities of the banking sector as a factor in their competitiveness.
   Objectives: consider the stages of development of banking innovations, the introduction of financial technologies; present the key factors of competitiveness in the sector of innovative technologies; give examples of innovative banking products and formulate their competitive advantage.
   Methodology. In the process of writing the article, such general scientific methods as analysis and classification, grouping were used, methodological and systematic approaches were used.
   Results. It follows from the considered data that the formation of a modern efficient banking ecosystem, the introduction of all possible innovative technologies in their activities determines the ability of banks to be in demand and customer-oriented.

   Conclusions. The use of innovative technologies plays a key role in the development of the competitiveness of the banking sector. The introduction of digital technologies affects the popularity of the bank among consumers and forms a tendency to increase competitiveness.

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