Development of infrastructure for servicing credit activities of Russian commercial banks

The article provides an author-defined concept of the infrastructure for servicing credit activities of commercial banks as a collection of institutions external to them, ensuring the possibility of effective implementation of credit operations by banks. The role of this infrastructure is shown at all stages of a credit transaction: the preparation of the transaction, the assessment of borrowers’ creditworthiness, the minimization of credit risks, and the completion of the transaction. The legislative framework for the functioning of the institutions that serve the credit activities of commercial banks is described. Analysis of the activities of Russian infrastructural institutions is conducted, encompassing financial marketplaces, credit and digital mortgage brokers, advertising agencies and mass media, credit bureaus, credit rating agencies, insurance companies, and professional debt collection organizations. Conclusion dwells upon the fact that the infrastructure supporting the credit activities of Russian commercial banks is mostly formed. Against this backdrop, organizational, legal, informational, and personnel-related challenges affecting the operation of infrastructural institutions are identified and characterized, with proposed approaches for their resolution.