A BANKING PRODUCT AND ITS PLACE IN FORMATION OF THE COMMERCIAL BANK’S PRODUCT POLICY


Glebov A.A.

Banking innovation, banking product, banking service and banking operation are the key categories of the banks’ product policy. However, in science, there is no holistic understanding of the relationship of these terms. The objectives of the work are to analyze the scientific points of view regarding the meaning of these concepts and to show their interrelation. The general scientific dialectical method of cognition, empirical (comparison, measurement, description) and theoretical (formal and dialectical logic) methods are applied. The results of the research can be used for a comprehensive analysis of existing approaches to the formation of banks’ product policies, as well as to the universalization of the content of existing terms used in regulatory legal acts, internal regulations of credit institutions, as well as in contracts, which will increase transparency of service conditions for clients and avoid intuition in understanding terms. Conclusions: the term “banking product” includes the concepts of banking services and banking operations. At the same time, the banking product is the basis for changes in the product policy based on banking innovation. Keywords: banking product, banking service, banking operation, banking innovation, product line, product policy. Highlights: • analysis of the main normative documents of the Russian Federation, as well as theoretical ap-proaches of modern domestic researchers to the interpretation of the terms “banking innovation”, “banking product”, “banking service” and “banking operation” was carried out; • the author’s definitions of product policy, banking innovation, banking product, banking services and banking operations were formed; • the author’ s concept of the interconnection of concepts under study was developed within the framework of the product policy.

Alexander A. Glebov, a post-graduate student, Rostov State University of Economics.


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