СТАНОВЛЕННЯ СЕКТОРУ FINTECH: МОЖЛИВОСТІ ТА РИЗИКИ В УМОВАХ ЦИФРОВОЇ ЕКОНОМІКИ

Abstract

The article is devoted to the study of the state, trends and prospects of the development of the FinTech sector, the identification of opportunities and risks of its development in the conditions of the digital economy, and the determination of measures to accelerate such development. The main trends of FinTech development are analyzed. The advantages of using fintech providers have been determined, in particular: fast provision of financial services; a small number of regulatory requirements; the possibility of cooperation with banks; facilitating access to instant funds for urgent needs or loans for small amounts for people with low incomes; increasing financial convenience for users, since access to services is possible from any place where Internet access is available. The types of companies providing fintech services, the basic groups of digital technologies, on the basis of which fintech services are implemented, were studied. The possibilities of technology application are summarized: blockchain, big data, Internet of things, cloud computing, artificial intelligence, biometric technologies, augmented/virtual reality, embedded finance, SAAS, Open Banking by types of financial activities and services. Factors and risks of FinTechs development are studied: liquidity mismatch, speculative bubbles, interconnectedness, systemic importance, risk of regulatory problems, displacement of traditional jobs and creation of new forms of inequality. To accelerate the development of FinTech at the international and national levels, it is proposed to carry out groups of measures depending on their content: measures of a technological nature (acceleration of the development of technologies on which FinTech is based); measures to create a competitive environment and effective functioning of the fintech market; educational activities; regulatory measures at the state level; state measures to stimulate innovation; cyber security measures; implementation of international coordination. Keywords: Fintech, digital economy, digitalization, electronic payments, risks of fintech activities, cyber security, fintech provider, financial services, digital technologies, fintech startup.