The Role of Regulatory Sandboxes in Adapting Corporate Governance to the Implementation of Innovative Financial Technologies in the Russian Banking Sector

Introduction. In the current conditions of digitalization of the financial market, Russian banks face the need to implement innovative financial technologies (fintech) to enhance competitiveness and the efficiency of corporate governance. Regulatory sandboxes serve as an important tool that facilitates the adaptation of corporate governance and reduces risks in the implementation of new technological solutions. The aim of the study is to evaluate the impact of regulatory sandboxes on the processes of implementing innovative financial technologies in the corporate governance of banking institutions in the Russian Federation. Methods. The study employs a comprehensive approach, including qualitative and quantitative analysis, a comparative study of international experience, and an empirical assessment of domestic regulatory practices. The methodology is based on the analysis of the legal framework, interviews with representatives of the banking sector, as well as the collection and processing of statistical data on the implementation of fintech solutions. These methods allowed the identification of key factors influencing the successful use of sandboxes and the analysis of their effectiveness in the context of corporate governance. Results. The study showed that regulatory sandboxes promote the accelerated adaptation of the corporate structures of the banking sector to innovative technologies by reducing regulatory barriers and creating a favorable experimental environment. The use of this instrument enables the effective testing of new fintech products, optimizes decision-making processes, and improves internal control and risk management systems. The obtained data indicate a positive influence of sandboxes on innovative development, a reduction in time and financial costs for adapting management mechanisms, and the strengthening of a bank’s position in a competitive market. Discussion. The discussion of the results revealed that further development of regulatory sandboxes requires attention to the formation of flexible legal and regulatory mechanisms that can accommodate the dynamics of technological changes and the specifics of corporate strategies. The implementation of innovative technologies in the banking sector is possible only through continuous interaction between regulators and market participants, ensuring a balance between innovation and the protection of consumer interests. Thus, this study underlines the importance of regulatory sandboxes as a key tool for modernizing corporate governance in the era of digital transformation.

В условиях цифровизации финансового рынка российские банки сталкиваются с необходимостью внедрения инновационных финансовых технологий (финтех) для повышения конкурентоспособности и эффективности корпоративного управления. Регуляторные сандбоксы выступают важным инструментом, способствующим адаптации корпоративного управления и снижению рисков при реализации новых технологических решений. В исследовании использован комплексный подход, включающий качественный и количественный анализ, сравнительное исследование международного опыта и эмпирическую оценку отечественных практик регуляторного контроля. Результаты показали, что регуляторные сандбоксы способствуют ускоренной адаптации корпоративных структур банковского сектора к инновационным технологиям посредством снижения нормативных барьеров и создания благоприятной экспериментальной среды. Применение данного инструмента позволяет эффективно тестировать новые финтех-продукты, оптимизировать процессы принятия решений и улучшать системы внутреннего контроля. Обсуждение результатов подчеркивает необходимость формирования гибких нормативно-правовых механизмов, учитывающих динамику технологических изменений и специфику корпоративных стратегий.