The activity of participants in the financial market is highly automated. New informational banking and financial systems that support the activities of market participants should not only serve a huge number of transactions reliably, store and transmit on the network large amounts of data, but they are also to provide banks and financial institutions with advantages achieved in the competition for the use of the latest innovative technologies in a variety of areas, such as software development, computing facilities, data storage, data protection, telecommunications, artificial intelligence, and many other innovative technologies. The financial institutions are investing in the development and support of IT-infrastructure heavily. They are forced to attract highly qualified IT professionals.
The existing IT technologies and software for large financial institutions have an extensive functionality. Moreover, they are an expensive solution that requires a long introduction. That is why there is a tendency in the microfinance industry now to create low-cost, highly reliable, customizable and scalable cloud-based services for microfinance institutions and credit cooperatives management. These technologies are currently the one of the priority directions of innovative development in the Russian Federation, in which both government and business significant resources are invested.