Practice-oriented concept of the state information policy as an institutional basis for increasing public confidence in financial institutions in Russian Federation

UDC 323:336.7

DOI 10.20339/AM.09-23.090          

Andrey A. Linchenko, Ph.D., Docent, Researcher, Lipetsk branch — Financial University under the Government of the Russian Federation, Russia, ORCID: 0000-0001-6242-8844, e-mail: aalinchenko@fa.ru  

Olga Yu. Smyslova, Dr. Sci. (Economics), Docent, Professor of the Chair “Management and All- Humanities”, Lipetsk branch — Financial University under the Government of the Russian Federation, Russia, ORCID: 0000-0000-0000-1234, e-mail: savenkova-olga@mail.ru

Elena V. Trutenko, Research assistant, Lipetsk branch — Financial University under the Government of the Russian Federation, Russia, ORCID: 0009-0006-1038-5532, e-mail: evtrutenko@yandex.ru   

The paper is devoted to the theoretical justification and development of a practice-oriented concept of the state information policy, which is considered by the authors as an institutional basis for increasing public confidence in the RF’s financial institutions of Russian Federation. The paper defines the long-term strategic goal of the information policy, the tasks, generalized functions, the main directions and basic principles. The analysis of the modern theories of social capital and stable loyalty made it possible to come to the conclusion that the development of the contemporary model of information policy aimed at the public confidence increasing in financial institutions will be most effective in case of focusing on practical measurement, which means that the priority lies for the most part in the subject market activity but not only in the issues of financial literacy. Due to the above mention factors, the paper presents the author view concerning the process of forming sustainable public loyalty in financial institutions, that presupposes creating of a single information environment that is weighty to the implementation to the financial product and services based on practical interaction and inclusion of the consumer of financial services, as well as the use of IT focused on the consumers usage of financial services. The paper outlines that the major task of the state information policy oriented on the public confident in Russian Financial institution is to coordinate and synchronize the efforts of key users of financial services, that imbodied in the practices of cognitive, emotional-oriented and behavioral strategies, director votes, costumers loyalty busting or the creating the practice for the formation of a culture of trust in financial institutions. In this respect, the concept proposed by the authors is specified within the framework of the information policy model as an institutional basis for increasing public confidence in financial institutions, which takes into account the fields of usage major participants, the strategy type, current risks and others institutional factors.

Keywords: state information policy, practice -oriented concept, financial trust, formation strategies of trust culture, information environment, risks, information policy model.

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The paper was prepared on the research results carried out at the expense of budgetary funds in line with the state assignment of the Financial University, Temporary Creative Team — The stated task-50-23.