Scholarly record

THE ISSUES RELATED TO THE IMPROVEMENT OF PERSONAL FINANCE MANAGEMENT SERVICES IN THE RUSSIAN BANKING SYSTEM

M. D. Mironova, D. K. Bikchantaeva, R. S. Safina

Abstract

This article describes method of banking activities in the field of the Internet of banking of Russia. The issue of personal finance management services is relevant both for individuals and for families dealing with budget deficits and budget surpluses. Modern financial relations into which a citizen enters tend to become more complicated. This fact makes it necessary for subjects who manage personal finances to master a sufficiently high level of financial literacy. Therefore, personal finance management skills are becoming an integral attribute of the man of today. A social and psychological issue that is financial illiteracy of the population also stands in the way of development of Internet banking in Russia. Most Russian citizens still fail to understand the specifics behind a bank's activities nor do they have a grasp of the offered products; the use of Internet banking with personal finance management built-in functions further exacerbating this situation. The problems of Internet banking in Russia are considered in the article. The authors point out another problem is related to issues of security of Internet-banking systems ? client's authentication in the system.

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