Economic And Institutional Analysis Of Domestic Digital Financial Market Trends

Abstract

The modern digital financial services market can be characterized as a set of classical credit and non-credit institutions with a range of financial products available to them with the latest innovative achievements of companies that are manufacturers of solutions in the field of digital financial assets. The improvement in the range of financial products and digital financial services provided is due to the very time in which the consumer is to resort to financial institutions as intermediaries in monetary transactions between counterparties. The latter circumstance is due to the development of mobile gadgets which provide customers’ access to Internet banking without a personal visit to the bank's office. The development of new types of services and a line of financial products, in general, is caused by the growing competition of financial counterparties with each other, as well as with organizations that have not previously been involved in the provision of digital financial services. The subject of the research is economic and institutional relations arising in the process of providing potential and current consumers of financial services with new digital financial products, as well as the process of their regulation. The factor that significantly slows down the development of the digital financial sector is the lack of both domestic and foreign investment. Currently, only very large banks can allow the development of digital technologies planned for implementation in financial transactions.