Borisova O.V.Financial University under Government of Russian Federation, Moscow, Russian Federation jalo-jalo@mail.ru ORCID id: not available
Importance The article discusses the situation on the financial technology market and major trends in its development. Objectives The focus is on defining the principal directions of the financial technology market development. Methods The main research methods are analysis and synthesis. They enable to identify trends in financial technology development. Results The paper analyzes main segments of the financial technology market, identifies main drivers and changes in the area. It also reveals the volume of global venture investment in financial technologies and defines the main directions of the financial technology market development. Conclusions The main directions of the market development are investing in financial technologies, reducing the share of the banking sector and the number of intermediaries in the financial market, enhancing regulation by the Bank of Russia. It is important to transform rendered services into integrated products, use understandable software interfaces and provide on-line access to them. The results of the study of the main market segments may be used by commercial organizations to select the state-of-the-art financial technologies and transform their business models to modern conditions.
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