Multidisciplinary Analysis of Digital Transformation in the Russian Banking Sector: The Cases Studies of Sberbank, TBank, VTB and RusAg Bank

Ehsanullah Payandi (), Marat R. Zezaev () and Larisa M. Tsikanova ()
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Ehsanullah Payandi: Federal State Budgetary Educational Institution of Inclusive Higher Education “Russian State University of Social Technologies”, Moscow, Russian Federation
Marat R. Zezaev: State Academic University for the Humanities, Moscow, Russian Federation
Larisa M. Tsikanova: Federal State Budgetary Educational Institution of Inclusive Higher Education “Russian State University of Social Technologies”, Moscow, Russian Federation

Finansovyj žhurnal — Financial Journal, 2025, issue 6, 113-129

Abstract: The digital transformation of the Russian banking sector presents a compelling example of how geopolitical, technological and regulatory forces reshape financial ecosystems under constraints. This article uses an interdisciplinary approach spanning finance, technology, business strategy, regulation, behavioral science and ethics to analyze the digital adaptation strategies of four dominant Russian banks: state-owned Sberbank and VTB, digital TBank and agriculture-focused RusAg Bank. Using a mixed methodological approach combining quantitative performance metrics with qualitative policy analysis, we evaluate how these institutions are coping with a triple challenge: Western sanctions, domestic fintech innovation, and the Central Bank of Russia’s digital ruble initiative. Three questions arise: 1) How have SWIFT exclusion and technology embargoes accelerated the development of sovereign financial technologies while limiting global interoperability. 2) Can state owned banks overcome structural inertia to match the digital agility of the private sector, as seen in Sberbank’s investments in artificial intelligence versus TBank’s SuperApp ecosystem. 3) How do the ethical dilemmas of AI bias in credit scoring to rural financial exclusion manifest differently across different types of banks. Geopolitical isolation has paradoxically spurred innovation in blockchain based payments, but also poses the risk of long-term technological stagnation. These findings carry implications for emerging markets experiencing similar constraints and for policymakers assessing the resilience of the financial ecosystem. The case of Russia shows how sanctions can catalyze the adoption of digital currencies while fragmenting the financial architecture. The article concludes by identifying key trade-offs between financial sovereignty and technological competitiveness in an era of economic nationalism.

Keywords: fintech sanctions; digital ruble; AI in finance; blockchain; financial sovereignty; neobanking; financial inclusion (search for similar items in EconPapers)
JEL-codes: G21 (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:fru:finjrn:250607:p:113-129

DOI: 10.31107/2075-1990-2025-6-113-129

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