The transition to online banking will happen in 10-20 years, experts say

© RIA Novosti / Kirill to Kallinikova in fotobabble card. Archive photoThe transition to online banking will happen in 10-20 years, experts say© RIA Novosti / Kirill to Kallinikova the image Bank

The transition of all banking in the online space will happen in 10-20 years, according to the majority (42%) of Bank «home Credit» of experts.

Another 33% of respondents believe that banking will go online in 5-10 years. The longer term of 20-30 years called 14% of respondents, while 5% expect these changes not earlier than in 30-40 years. About 6% of respondents believe that the complete transition of banking into the online space, «unreal».

«The most optimal solution, according to 92% of respondents, will be a collaboration of traditional banks with existing high-tech companies: according to the survey, development banks, private financial technological tools is not a strategy that works 100% of the respondents. The main reason, according to experts, is the lack of quality training, as well as the conservative approach of some senior officials», — stated in the results of the study.

The gap in the implementation fintehnology banks in developed and developing countries, according to the survey, currently moderate, so I guess 58% of respondents. The majority of respondents (48%) believe that the United States in 10 years will be the leader and will set the course in the field of Finance, but in 50 years a leader could be China (37%). In Russia the development of Finance is in line with global trends, are sure 65% of the respondents.

The majority of respondents noted the need for the legalization of cryptocurrency around the world. However, many respondents noted the instability of cryptocurrency and don’t see the point in integrating bitcoin and its analogues in the offline-banking. Artificial intelligence, on the contrary, will, in the opinion of the respondents (83%), play very important role in FINTECH products in 10-15 years. Robots in the future will be able to partially replace the work of brokers and analysts (assume 52% of respondents).

«Russia is moving in the Wake of the development of all global technological trends: the banking sector is no exception. I agree with the experts, indeed, moving the entire industry in the online sphere – a question of time, and then, as they say, who did not – that was late. Now is the time to prepare the personnel database, debug, digital processes, to keep pace with fanthom. In the short term it will be difficult, but only such approach will allow to achieve synergies and reach a new level» — presented in the study of the words of the Chairman of Board of Bank «home Credit» Yury Andresov.

The survey «FINTECH and Banks: the technological future classic financial institutions» was conducted by the Bank «home Credit» with the participation of the Association of managers of Russia (AMR). It was attended by experts in the field of Finance from the banking, education sector, telecommunications and IT departments of large businesses.