DIGITAL TRANSFORMATION OF THE FINANCIAL MARKET: RISKS AND OPPORTUNITIES

Abstract

The introduction of modern digital technologies into the practice of financial market entities contributes to the resolution of contradictions in economic relations between suppliers and consumers of financial products by forming a local compromise. The digitalization of financial services helps to increase the physical and tariff accessibility of financial services, reduces the costs of a financial company to expand its client portfolio. However, it should be noted that the production, sale and consumption of digital financial services and the digitalization of business processes of financial companies are associated with additional risks for all participants in economic relations.
 Purpose. Study of opportunities and risks of forming an effective financial strategy for a consumer of financial services in the context of digital transformation of the financial market.
 Methods and methodology. The article used the methodology of conflict-compromise management of economic relations, the general theory of risk, as well as content analysis of the literature on the research problem.
 Results. Results were obtained that confirm the hypothesis that the digitalization of various business processes in financial companies will lead to an increase in the process of disintermediation, which will inevitably lead to the transformation of traditional business models of companies, a revision of the factors affecting the formation of profits of financial companies, and for consumers of financial services to the need to form patterns of responsible financial behavior in the context of financial market transformation.
 Practical implications it is advisable to apply the results obtained by economic entities involved in the formation of functional strategies of companies.