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The Modern Financial Conglomerates Competition

101
Rubric: The World at the Beginning of Millennium
DOI: 10.20542/0131-2227-2021-65-8-14-21
S. Dubinin (dsk@vtbcapital.com),
Lomonosov Moscow State University (MSU), 1, buil. 46, Leninskie Gory, Moscow, 119991, Russian Federation;
VTB Capital JSC, Vorontsovskaya Str., 43, buil. 1, Moscow, 109147, Russian Federation
PDF (RUS)

Received 02.03.2021.

Abstract. The national and worldwide financial markets were dramatically reorganized in the after financial crisis 2007–2009 years period. The financial systems development faced new macroeconomic environment. The financial conglomerates are actively competing on the financial markets in now day situation. The financial institutes’ competitiveness is determined more and more by the factor of financial innovations on the information technology base. And the competition is escalating. This is the result of the IT companies, eCommerce firm’s invasion in the financial area. They are using the marketplace, information platform, the Big Data technologies. The major world commercial banks answer is the business-model change. The banking sector, the financial companies, in their turn, are targeting to expend their personal client service orientation with the Fintech ecosystems instruments. The banks became the management centers of the financial conglomerates and banking groups. Their role today is realizing the asset control over the SPV, investment funds, pension funds, insurance companies, which are transformed into the financial conglomerate’s divisions. The financial sphere space extends and so far, the prudential regulation and authorities’ activity spreads to all financial business aspects. This government activity is targeting today also on the international multipole competition. For example, the USA technological and financial innovations on the global financial markets are combined with the multilateral and unilateral economic sanctions aimed at banning the Chinese economic and political expansion.

Keywords: financial conglomerates, banking groups, IT companies, Big Data, Fintech, financial ecosystems, financial innovations, new business model, antitrust law regulation, prudential regulation authorities


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For citation:
Dubinin S. The Modern Financial Conglomerates Competition . World Eñonomy and International Relations, 2021, vol. 65, no. 8, pp. 14-21. https://doi.org/10.20542/0131-2227-2021-65-8-14-21

Contents World Eñonomy and International Relations. 2021, vol. 65, no. 8

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