Digital Financial Services Market Development: Background and Prospects

DOI

10.2991/aebmr.k.200509.081How to use a DOI?

Keywords

digital financial market, online population, market subsegment, digital financial services

Abstract

Subject. In the context of economy digitalization, the development of digital financial services market is an objective consequence of the economic relations development. In this regard, the significant potential of the digital financial services should be used to improve the financial architecture and the quality of life through developing the digital financial services for both legal entities and the population. The aim of the research is to identify the background and develop the perspective directions for advancing the digital financial services under digital transformation of economy both at national and international levels. Methodology. Using analysis and comparison, the research featuresthe dynamics of population change andonline population in Russia compared to global trends, as well as the current state of internet demand. In the authors’ view, the digital financial services development is based on a cybernetic approach, which providesa certain synergistic effect. Results. Original approaches to the “digital financial market” and “potential of digital financial services market” categories areproposed and the mechanism for managing the development of the digital financial services market is also developed. Conclusions are made that the digital financial services market is one of the key elements of the national economy, which aims at solving problems connected with financial services accessibility for the population. Like any element of the economy, the market for digital financial services has certain advantages and disadvantages, but they do not have a significant negative impact on the financial system as a whole and the financial services market in particular.

Copyright

© 2020, the Authors. Published by Atlantis Press.

Open Access

This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

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TY  - CONF
AU  - M.P. Loginov
AU  - N.V. Usova
AU  - E.E. Nedorostkova
PY  - 2020
DA  - 2020/05/12
TI  - Digital Financial Services Market Development: Background and Prospects
BT  - Proceedings of the International Conference on Economics, Management and Technologies 2020 (ICEMT 2020)
PB  - Atlantis Press
SP  - 453
EP  - 456
SN  - 2352-5428
UR  - https://doi.org/10.2991/aebmr.k.200509.081
DO  - 10.2991/aebmr.k.200509.081
ID  - Loginov2020
ER  -