Improving the business model and regulation of credit institutions in the context of the introduction of high financial technologies

The article discusses the problems of modernization of the banking sector in Russia through the introduction of high financial technologies. We research the current state of credit institutions, modern technologies of banking services: comprehensive automation and robotization, digitalization of documents on banking operations, big data processing, mobile banking, open interfaces, cloud offices, instant payments, remote client and transactions registration, electronic commerce, blockchain. We prove the necessity and possibility of the complex transformation of the banking sector with the obligatory changes in the economic policy of the Russian Federation, the financial market architecture and the banking sector; improvement of the payment system, cash and settlement operations, business models and risk management of credit institutions, banking regulation and supervision. We justify the increase of the quality of banking services through the introduction of high financial technologies.