Abstract
The banking market is not an exception among other markets that are subjects to cases of inefficient operation of the market mechanism. In this regard, this article is focused on addressing the issues of prevention and finding ways to deal with failures in the banking segment, most of which are related to the digitalization process. The system approach was the methodological research tool that allowed studying the problem of combating imperfections in the functioning of the banking market in a comprehensive manner, affecting not only individual problems of modernizing the banking system due to the introduction of individual IT technologies in the business processes of these structures, but also the transformation of the banking system in an ever-increasing competition with information investment platforms. The article examines the genesis of market fiasco, which made it possible to identify not only the factors contributing to the reproduction of failures, but also to see the tools with which these failures can be eliminated; The analysis of theoretical approaches to the classification of market failures was carried out, which made it possible to identify the most characteristic fiasco; A number of recommendations have been proposed for eliminating and minimizing the socioeconomic consequences of failures of the Russian banking market, taking into account the process of transformation of the banking system in modern conditions. The materials of the article are of practical value for the banking business community, offering a number of tools to improve the competitiveness of this financial segment.
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Kuzmina, O.Y., Konovalova, M.E., Chulova, E.S. (2020). Transformation of the Banking System as a Way to Minimize Information Asymmetry. In: Ashmarina, S., Vochozka, M., Mantulenko, V. (eds) Digital Age: Chances, Challenges and Future. ISCDTE 2019. Lecture Notes in Networks and Systems, vol 84. Springer, Cham. https://doi.org/10.1007/978-3-030-27015-5_2
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