Introduction of innovative technologies for the development of the bank’s mortgage system: the case of Almazergienbank JSC

Abstract

In recent years, the banking business has been proactively introducing various innovations. The mortgage industry is complex and confusing, and this is primarily due to traditional and paper processes, lack of standardization, and extensive regulatory requirements. This study is justified by the fact that innovative technologies such as blockchain can be a solution to these problems. Currently, the use of blockchain in the banking sector is not sufficiently developed in Russia. Blockchain can help clients of banking organizations to purchase real estate not in weeks, but in a few minutes, without using paper workflow. The purpose of the study is to develop proposals for the introduction of innovative technology into the mortgage system of Almazergienbank JSC. To achieve this goal, the following tasks were solved: the main problems of mortgage lending in Russia were identified, the organizational and economic characteristics of Almazergienbank JSC were carried out, the analysis of mortgage lending management of Almazergienbank JSC was carried out, the analysis of the innovative activity of Almazergienbank JSC was carried out, problems were identified and recommendations for the introduction of innovative technologies into the mortgage system were proposed JSCB Almazergienbank JSC. The results of this study are the application of the recommendations received to improve the effectiveness of the application and use of new innovative technologies in the development of the bank’s mortgage system.