Digitalization of financial sphere: challenger banks efficiency estimation
In the last few years digital transformation affects entire sectors of the world economic system. One of the main drivers of digital economy development is the financial sector which takes the second place after telecommunication companies by investments into innovative informational and communicational technologies. An innovative form of the financial institution is analyzed in the article challenger bank, which presupposes doing bank business only in the form of remote approach, with the help of mobile communication channels. This for of the financial institution has appeared not long ago and, therefore, it is insufficiently investigated, for which reason the analysis of a corresponding credit organization is of vital importance. One of the main tasks, when exploring innovation projects, is presented by evaluation of economic efficiency of their activity. As a challenger bank is, in fact, a financial institution which can be presented in the form of an information communication system, that's why methods of estimating IT projects can be applied to it which will make it possible to evaluate its efficiency from the point of view of making investments into information system. On the basis of this supposition, a model of estimating efficiency of this form of a credit organization as an IT project has been suggested, where dependency of the net present value on the number of clients growth of the digital financial institution and the number of operations performed by them has been explored. Simulation has demonstrated that it will be efficient for a challenger bank if the number of its clients in the first year of its existence will exceed two hundred thousand people.
IOP Conference Series: Materials Science and Engineering