Cyber Resilience of Credit Institutions in the Context of Digital Banking Business Development

The development of the digital banking business and the transition from offline interaction to an online format in modern conditions encourage us to pay more attention to the generation of cyber risks in the banking sector.

The purpose of the study is to develop the theoretical and practical foundations for ensuring the cyber stability of credit institutions in the context of the development of digital banking business.

The objectives of the study were to study the conceptual apparatus of the cybersphere of credit institutions; to substantiate management decisions for building a cybersecurity system in a commercial bank; and to access the parameters of ensuring the security of client transactions in the process of cooperation between a commercial bank and an IT company.

The scientific novelty of the research lies in the substantiation of management decisions in an economic system with a high level of turbulence and insufficient information about the mechanisms of their functioning using specific tools in the form of a phenomenological type model. The study aimed to describe the system’s response to various impacts. In the course of the research, a dialectical method was used, revealing the possibilities of studying cyber risks in conditions of geopolitical instability, interconnection and interdependence, as well as such general scientific methods and techniques as scientific abstraction, analysis and synthesis, methods of grouping and comparison. The process of researching cyber risks in the context of the development of digital banking was considered through the prism of general patterns of banking activity, interconnection and unity of theory and practice, and a number of empirical research methods were also used. The paper presents a critical review of domestic and foreign scientific literature on cyber risks and cybersecurity and proposes a new concept of «cyber ecosystem». A model of interaction between a commercial bank and an IT-company specializing in the provision of anti-cyber risk services was developed, and an algorithm for justifying the bank’s management decisions on allocating funds for cyber protection was proposed. The bank’s cyber resilience map has been built, which made it possible to visualize the modern landscape of cyber threats to credit institutions. The conducted research can be useful both for specialists in this field and for regulatory and supervisory authorities of the financial market.

1. Shvyrov V. V., Hvozdiukova S. N. Cyberspace risk categories: Nature of loss and business sectors. Vestnik Luganskogo gosudarstvennogo pedagogicheskogo universiteta. Seriya 5. Gumanitarnye nauki. Tekhnicheskie nauki. 2022;(2):96–104. (In Russ.).

2. Larina O. I., Moryzhenkova N. V. On the development of the cyber risk identification methodology. Bankovskoe delo = Banking. 2023;(1):66–71. (In Russ.).

3. Amosova N. A., Rudakova O. S. Financial stability in financial markets: Identification of leadership and sources of risk generation. Moscow: KnoRus; 2025. 240 p. (In Russ.).

4. Larionova I. V. Competition in the financial services market of Bigtech companies and Big Banks. Regulatory issues, risks, and financial stability. Bankovskie uslugi = Banking services. 2025;(3):12–18. (In Russ.). DOI: 10.36992/2075–1915-2025-3-12

5. Larionova I. V. New approaches to financial market regulation in conditions of increasing risks of uncertainty of economic development with the introduction of sanctions restrictions. Moscow: KnoRus; 2024. 190 p. (In Russ.).

6. Larionova I. V., Ustinov D. A. Implementation of the borrower’s internal credit ratings into the credit risk assessment system. Finansy, den’gi, investitsii = Finances, Money, Investments. 2024;(4):30–37. DOI: 10.36992/2222–0917-2024-4-30

7. Metel’kov A. N. Cyber exercises: foreign experience in protecting critical infrastructure. Pravovaya informatika = Legal Informatics. 2022;(1):51–60. (In Russ.). DOI: 10.21681/1994–1404–2022–1–51–60

8. Vasiliev S. A., Nikonova I. A., Miroshnichenko O. S. Banks, information platforms and big data: Development trends and regulatory directions. Finansovyi zhurnal = Financial Journal. 2022;14(5):105–119. (In Russ.). DOI: 10.31107/2075–1990–2022–5–105–119

9. Dyudikova E. I., Rizvanova I. A. DeFi risk profile as an indicator of a crisis of confidence. Innovatsii i investitsii = Innovation & Investment. 2025;(5):632–637. (In Russ.).

10. Rizvanova I. A. Identification and control of risks in the payment system: Russian and foreign experience. Vestnik universiteta (Gosudarstvennyi universitet upravleniya). 2024;(9):203–212. (In Russ.). DOI: 10.26425/1816–4277–2024–9–203–212

11. Shkodinsky S. V., Dudin M. N., Usmanov D. I. Analysis and assessment of cyberthreats to the national financial system of Russia in the digital economy. Finansovyi zhurnal = Financial Journal. 2021;13(3):38–53. (In Russ.). DOI: 10.31107/2075–1990–2021–3–38–53

12. Antonian E. A., Kleshchina E. N. Cybercrime at the present stage: Trends and directions of counteraction. Vestnik ekonomicheskoi bezopasnosti = Vestnik of Economic Security. 2022;(5):11–15. (In Russ.). DOI: 10.24412/2414–3995– 2022–5–11–15

13. Khalin V. G., Chernova G. V. Digitalization and cyber risks. Upravlencheskoe konsul’tirovanie = Administrative Consulting. 2023;(7):28–41. (In Russ.). DOI: 10.22394/1726–1139–2023–7–28–41

14. Dudin M. N., Shkodinsky S. V. Challenges and threats of the digital economy to the sustainability of the national banking system. Finance: Theory and Practice. 2022;26(6):52–71. DOI: 10.26794/2587–5671–2022–26–6–52–71

15. Cheng S., Li J., Luo, L., Zhu Y. Cybersecurity governance and digital finance: Evidence from sovereign states. Finance Research Letters. 2024;65:105533. DOI: 10.1016/j.frl.2024.105533

16. AlGhamdi S., Than W. K., Vlahu-Gjorgievska E. Information security governance challenges and critical success factors: Systematic review. Computers & Security. 2020;99:102030. DOI: 10.1016/j.cose.2020.102030

17. Norbekov J. Ensuring information security as an ideological problem. Mental Enlightenment: Scientific-Methodological Journal. 2020;(1):56–65. URL: https://mentaljournal-jspu.uz/index.php/mesmj/article/view/9/8

18. Belova M. T. Practical issues of improving the policy of the bank of Russia in the field of protecting the rights of consumers of financial services. Innovatsionnoe razvitie ekonomiki = Innovative Development of Economy. 2022;(3– 4):197–204. (In Russ.). DOI: 10.51832/2223798420223–4197

19. Belova M. T., Shilov I. S. Prospects of banking business development in the context of digital transformation of the financial system. Finansovye rynki i banki = Financial Markets and Banks. 2023;(12):79–87. (In Russ.).

20. Gumerov M., Salutina T., Platunina G., Sharavova O., Boychenko I. Emergent decision-making in business-processes management. In: Managerial sciences in the modern world: Proc. 9th Int. sci.-pract. conf. Geneva: Eurasian Scientific Editions SA; 2022:103–108. URL: https://scispace.com/pdf/ix-international-scientific-practical-conferencemanagerial-3ejt5k3s.pdf

21. Priven A., Kynin A. A phenomenological model of parameter growth in engineering systems. International Journal of Systematic Innovation. 2012;2(2):9–23. DOI: 10.6977/IJoSI.201209-2(2).0002

22. Ianenko M. B., Badalov L. A., Rovensky Y. A., Bunich G. A., Gerasimova E. B. Essence, risks and control of uncertainties in the process of making investment decisions. Espacios. 2018;39(31). DOI: 10.12816/0002259

23. Maergoiz L. S., Khlebopros R. G. The indicator of “happiness” in the resource-based economy: An extreme approach. Journal of Siberian Federal University. Humanities and Social Sciences. 2016;9(8):1739–1745. DOI: 10.17516/1997–1370–2016–9–8–1739–1745

24. Semenychev V. K., Kurkin E. I., Semenychev E. V., Danilova A. A. Multi-model forecasting of non-renewable resources production. Energy. 2017;130:448–460. DOI: 10.1016/j.energy.2017.04.098

25. Brovkina N. E., Rizvanova I. A. Transactional banking business. Moscow: KnoRus; 2022. 212 p. (In Russ.).

26. Gumerov M. F., Rizvanova I. A. Credit risks of Russian commercial banks: New approaches to management. Finance: Theory and Practice. 2023;27(2):64–75. DOI: 10.26794/2587–5671–2023–27–2–64–75

27. Tyukin I. Y., Gorban A. N., Sofeykov K. I., Romanenko I. Knowledge transfer between artificial intelligence systems. Frontiers in Neurorobotics. 2018;12:1–16. DOI: 10.3389/fnbot.2018.00049

28. Kahneman D., Tversky A. Conflict resolution: A cognitive perspective. In: Choices, values, and frames. Cambridge: Cambridge University Press; 2000:473–488.

29. Kleiner G. B., Karpinskaya V. A. Transition of firms from the traditional to ecosystem form of business: The factor of transaction costs. In: Inshakova A., Inshakova E., eds. Competitive Russia: Foresight model of economic and legal development in the digital age (CRFMELD 2019). Cham: Springer; 2020:3–14. (Lecture Notes in Networks and Systems. Vol. 110). DOI: 10.1007/978–3–030–45913–0-1

30. Kornai J. The system paradigm revisited: Clarification and additions in the light of experiences in the post-socialist region. Revue d’Etudes Comparatives Est-Ouest. 2017;48(1–2):239–296.

31. Adizes I., Čudanov M., Rodic D. Timing of proactive organizational consulting: Difference between organizational perception and behavior. Amfiteatru Economic. 2017;19(44):232–248.