Risks and Threats of Using Open Banking in Russia and in the World

Authors

  • Kolobova Y. I. Sevastopol financial University, student of the Magistracy of the Department of Finance and credit, Sevastopol
  • Mokhnitskaya D.S. Sevastopol financial University, student of the Magistracy of the Department of Finance and credit, Sevastopol
  • Sidorova V.E. Sevastopol financial University, student of the Magistracy of the Department of Finance and credit, Sevastopol
  • Skorokhod A.A. Sevastopol financial University, student of the Magistracy of the Department of Finance and credit, Sevastopol
  • Mokhnitskaya D.S. Corresponding Author

DOI:

https://doi.org/10.18502/kss.v3i2.1572

Abstract

A study was conducted on the development of banking in the Russian Federation and in the countries of the world. It was determined that open banking in all countries of the world is at the stage of development. Based on literature, a comprehensive analysis of open banking functioning was conducted. Among the main problems the security risk, isolation and increased competition between banks were identified.

Keywords: open banking, PSD2 standards, aggregation site, the latest financial technologies.

References

E-Finance User Index 2016: the number of users of Internet banking in Russia for the year has not changed [Electronic resource]. URL: http://webpayment.ru/article/135/e-finance user-index-2016/

Open Banking Defenition [Electronic resource]. URL: http://www.investopedia.com/terms/o/open-banking.asp

Open banking catch the wave [Electronic resource]. URL: https://www.roomian.org/articles/otkrytyi-banking-poimal-volnu-2017

Open Banking: Opportunities and Risks [Electronic resource]. URL: http://bankir. ru/publikacii/20170227/open-banking-vozmozhnosti-i-riski-10008625/

Sberbank, Alfa-Bank, QIWI and other companies launch an association for the development of finteha in Russia [Electronic resource]. URL: https://rb.ru/news/fintech-russia/

Number of Internet audience [Electronic resource]. URL: http://www.bizhit.ru/index/users_count/0-151

e-Finance User Index 2016 [Electronic resource]. URL: http://markswebb.ru/efinance/e-finance-user-index 2016

In Russia, interest in digital banking is growing [Electronic resource]. URL: http://www.comnews.ru/content/105337/2016-12-28/ v-rossii-rastet-interes-k-cifrovomu-bankingu

Russia in figures. Internet banking [Electronic resource]. URL: http://www. vestifinance.ru/videos/9600

Published

2018-02-15

How to Cite

Y. I., K., D.S., M., V.E., S., A.A., S., & D.S., M. (2018). Risks and Threats of Using Open Banking in Russia and in the World. KnE Social Sciences, 3(2), 415–426. https://doi.org/10.18502/kss.v3i2.1572