The Impact of a digital platform on the financial corporation in modern Russia

The course taken by digital economy in the 21 century as is being presented by the government of the Russian Federation consists of informational technology capable of creating new markets as well as new opportunities in the financial sector. The successful growth in the digital economy is due to stronger financial positions in corporations, increase in the quantity and quality of financial tools utilized in the digital economy as well as growth in the interaction and preciseness of structures within financial institutions. A Financial corporation is defined as a legal entity in possession of organizations which function within the financial economic sector with a focus on credit, commercial banking, financial investment institutions, non-banking financial organizations, insurance companies, stock exchange and pension funds. The author discuses the digital economy in the context of Uralsib which addresses the decreasing of face to face contact between clients and front office representatives and the eventual shifting towards distance-based services. The practical application of digital economy with a focus on financial corporations can provide countries with better economic development, an increase in the number of successful startup businesses, digitalization of business processes, a stronger cybersecurity, better access of financial services for clients and more opportunities to educate the public on financial matters. The social impact that a move from corporations to a digital model can have by utilizing digitalization demonstrates how digital development can strengthen the economic state of a country in all its spheres. The most difficulty presented in the topic is found in the authors choice to delve deeper into digital models of financial corporations within Uralsib; a study that needs to be more integrated into business processes. The result of this study can challenge the digital economy of Russia to implement more practically based programmes within the financial sector. © 2018.