Synergy of Big Bank and Big Tech: Financial Markets’ New Era
https://doi.org/10.24833/2949-639X-2025-3-13-21-41
Abstract
The dynamic interplay between major banks and Big Tech companies within financial markets is increasingly becoming a focus of close scrutiny, not only for economists and regulators but also for the wider public on a global scale. Leveraging their substantial technological, customer, and innovative potential, Big Tech firms are actively expanding their footprint in the financial services sphere by offering digital solutions that are transforming traditional service models. This trend not only intensifies competition among key market players but also catalyses the search for effective models of mutually beneficial partnership. Within this context, the study of the fundamental principles underpinning relationships between systemically important banks and technology giants is gaining particular academic and practical significance. An analysis of current practices helps to identify inherent tensions and areas of mutual interest between the parties. This is paramount for defining prospective collaborative frameworks, assessing potential benefits, and evaluating systemic risks within the new economic reality. Consequently, a comprehensive examination of the contemporary challenges and opportunities presented by this alliance will enable the forecasting of its participants’ likely trajectories within both Russian and global financial markets.
About the Author
G. S. Panova
MGIMO University
Russian Federation
Russian Federation
Galina S. Panova, Doctor of Economic Sciences, Professor, Professor, Department of International Finance
Moscow
References
1. Abashkin V.L., Abdrakhmanova G.I., Vishnevsky K.O. et al. 2024. Indikatory tsifrovoy ekonomiki 2024: statisticheskiy sbornik [Digital Economy Indicators 2024: Statistical Collection]. Moscow: ISSEK HSE. 276 p. (In Russian)
2. Abdrakhmanova G.I., Gokhberg L.M., Demyanova A.V. et al. 2023. Platformennaya ekonomika v Rossii: potentsial razvitiya [Platform Economy in Russia: Development Potential]. Moscow: ISSEK HSE. 72 p. (In Russian)
3. Abramova M.A., Alekseeva D.G. & Amosova N.A. 2025. Finansovaya stabil’nost’ na finansovykh rynkakh: identifikatsiya liderstva i istochnikov generatsii riskov [Financial Stability in Financial Markets: Identifying leadership and Sources of Risk Generation]. Moscow: KnoRus. 240 p. (In Russian)
4. Barykin S.A. 2020. Rynok finansovykh tekhnologiy v Kitaye: sovremennoye sostoyaniye i perspektivy [The Financial Technology Market in China: Current State and Prospects]. International Trade and Trade Policy. 6 (2 /22/). P. 57–70. https://doi.org/10.21686/2410-7395-2020-2-57-70. (In Russian)
5. Cusumano M.A. Gawer A. & Yoffie D.B. 2019. The Business of Platforms: Strategy in the Age of Digital Competition, Innovation, and Power. New York: Harper Business. 320 р.
6. Kleyner G.B. 2018. Sotsial’no-ekonomicheskiye ekosistemy v svete sistemnoy paradigmy [Socio-Economic Ecosystems in the Light of the Systemic Paradigm]. Systems Analysis in Economics — 2018: Proceedings of the 5th International Research-to-Practice Conference — Biennale (21–23 November 2018). Moscow: Prometey. 520 p. (In Russian).
7. Krinichanskiy K.V., Yurevich M.A. Abramova M.A. et al. 2023. Sovremennyye kontseptsii finansovogo razvitiya: teoriya i metodologiya [Modern Concepts of Financial Development: Theory and Methodology]. Moscow: KnoRus. 252 p. (In Russian)
8. Larionova I.V. 2025. Konkurentsiya na rynke finansovykh uslug bigtekh-kompaniy i bigbankov. Problemy regulirovaniya, riski i finansovaya stabil’nost’ [Competition in the Financial Services Market of Big Tech Companies and Big Banks. Problems of Regulation, Risks and Financial Dtability]. Banking Services. No. 3. P. 12–18. https://doi.org/10.36992/2075-1915_2025_3_12. (In Russian)
9. Larionova I.V., Meshkova E.I. Zubkova S.V. et al. 2024. Novye podkhody k regulirovaniyu finansovogo rynka v usloviyakh vozrastayushchikh riskov neopredelennosti ekonomicheskogo razvitiya pri vvedenii sanktsionnykh ogranicheniy [New Approaches to Financial Market Regulation in the Context of Increasing Risks of Economic Development Uncertainty Under the Introduction of Sanctions Restrictions]. Moscow: KnoRus. 190 p. (In Russian)
10. Panova G. 2021. Financial Markets Evolution. From the Classical Model to the Ecosystem. Challengers, Risks and New Features. Cham: Palgrave Macmillan. 347 p.
11. Panova G.S., Larionova I.V. & Shuba N.A. 2024. Dilemma obespecheniya finansovoy stabil’nosti i stimulirovaniya rosta rossiyskoy ekonomiki [The Dilemma of Ensuring Financial Stability and Stimulating the Growth of the Russian Economy]. International Processes. 22 (2). P. 95–119. https://doi.org/10.46272/IT.2024.22.2.77.5. (In Russian)
12. Pashkovskaya I.V. 2022. Industriya 4.0 i biznes-landshaft na finansovykh rynkakh [Industry 4.0 and Business Landscape in Financial Markets]. Izvestiya vysshikh uchebnykh zavedeniy. Textile Industry Technology. No. 2. P. 46–58. (In Russian)
13. Rudakova O.S. 2022. O tekhnologicheskoy komponente finansovoy stabil’nosti [On the Technological Component of Financial Stability]. Banking Services. No. 10. P. 18–22. https://doi.org/10.36992/2075-1915_2022_10_18. (In Russian)
14. Sukhova L.F. Mirgorodskaya O.A., Botsyun I.B. & Zatsarinnaya A.V. 2019. Ob ekonomicheskikh granitsakh ekosistem biznesa [On the Economic Boundaries of Business Ecosystems]. Caucasus International University Bulletin: Economic Sciences Series (Theory of Economics and Public Administration). 1 (49). P. 112–118. (In Russian)
Review
For citations:
Panova G.S. Synergy of Big Bank and Big Tech: Financial Markets’ New Era. International Business. 2025;(3(13)):21-41. (In Russ.) https://doi.org/10.24833/2949-639X-2025-3-13-21-41
Views:
22
Email this article 