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DOI: 10.15862/06FAOR325 (https://doi.org/10.15862/06FAOR325)

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Manakov I.N. Improving IT product development processes in the banking sector as a tool for developing the regional digital economy. Russian journal of resources, conservation and recycling. 2025; 12(s3). Available at: https://resources.today/PDF/06FAOR325.pdf (in Russian). DOI: 10.15862/06FAOR325

Improving IT product development processes in the banking sector as a tool for developing the regional digital economy

Manakov Ivan Nikolaevich
Financial University under the Government of the Russian Federation, Moscow, Russia
E-mail: ivan.manakov13@gmail.com

Abstract. The current stage of Russian economic development is characterized by the strengthening role of the banking sector as a key customer and consumer of information technology, necessitating a scientific understanding of the relationship between the development of banking IT products and the dynamics of the digital economy at the regional level. The growing role of the banking sector as a generator of digital innovation creates an objective need to study the IT product development processes of credit institutions in terms of their impact on the development of the digital economy of the constituent entities of the Russian Federation. This study aims to analyze mechanisms for improving the development of banking IT products, including the implementation of agile development methodologies, the transition to domestic software platforms, and the integration of artificial intelligence technologies, in the context of their multiplier impact on regional economic development. The main factors determining the transformation of banking software development in the context of import substitution and technological sovereignty are examined. The IT cost structure of credit institutions of various sizes was analyzed, revealing disparities in approaches to developing IT between the largest federal and regional banks. The channels through which banking IT development influences the development of a region’s digital economy were systematized, including shaping demand for IT personnel, developing local development ecosystems, and stimulating cross-sector technology transfer. The results demonstrate that improving banking IT product development processes has a significant multiplier effect on the regional digital economy. However, this effect is hampered by personnel shortages, the high cost of import substitution, and fragmentation of the domestic software market.

Keywords: IT product development; banking sector; regional digital economy; import substitution; agile development methodologies; artificial intelligence; technological sovereignty; domestic software; financial technologies; multiplier effect

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