Subject. This article examines the prospects for outsourcing of financial functions and the problems of banks caused by objective risks and the lack of legal status of outsourcing. Objectives. The article aims to identify the key objective factors of the development and risks of outsourcing based on new digital technologies in the financial sector and assess the feasibility of segregating outsourcing contracts in the legal field to improve regulatory practice. Methods. For the study, we used an interdisciplinary approach, contextual analysis, and comparison. Results. The article formulates a set of key factors that stimulate the development of outsourcing of functions in the financial sector and cause an increase in the importance of risks for the banking business. It presents the author-developed approach to distinguishing the terms Financial Service, Financial Function and Microservice as part of a financial service. The article specifies possible benefits for the bank in the legal definition of an outsourcing transaction. Conclusions and Relevance. Outsourcing of financial functions is an objectively necessary way to strengthen the competitiveness of banks in the digital economy, and some of the presented problems of banks related to outsourcing of functions can be solved by introducing a specific form of outsourcing agreement into the legal field. The material of the article is of practical importance for the risk management of the financial sector, as well as specialists in the legal support of regulation of the financial sector of the economy.
Keywords: bank, outsourcing, financial functions, microservice, digital economy
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