Table 1 New elements of the global financial market infrastructure
Elements of financial
infrastructure
"Classic" business models
New "digital" forms and models
Financial Institutions
Banking Institutions
Virtual banks
Financial intermediaries
FinTech companies
International electronic money systems
Financial Markets
Currency market
The market of electronic (digital)
currencies
Financial instruments
Loan and other loan
agreements
"Online" crediting
Payment tools
Payment services for IT platforms
Financial services
Investments
Crowdfunding,
Crowdinvesting
Source: developed by authors
According to M. Igar [1], there are three key areas that will jointly form the
cornerstone of the financial infrastructure of the national and world economic systems
of the digital economy – innovation, transparency and broad access (Table 2).
Table 2 The basic drivers for the development of digital services for financial
management
Development
Driver
Description of impact and tasks
Innovations
The convergence point between conservative financial systems and fresh
innovations in the financial sector will stimulate the development of these types
of business models that will further the prosperity of digital finances. The
challenge for the national economy will be to create a supportive regulatory
regime and compliance standards that will not suppress development, especially
in segments where this issue is particularly relevant (the poorest regions and
groups of the population)
Transparency
Transparency increases trust in all processes and throughput of operational flows.
The main factors are availability and safety. This requires a greater level of
international cooperation and initiatives on standardization of procedures and the
balanced regulation of digital payments and remittances, as well as technological
issues arising in this regard. There is also a monitoring of the regulatory system
and reform in order to effectively protect the interests of consumers and investors
(especially in small and medium-sized business segments that are too sensitive to
excessive regulatory pressure)
Wide access
Affordable finance is a key driver for a sustainable, global society with fair
distribution and access to resources, wealth, value exchange and financial
services compliance. As estimated in 2013, 2.5 billion adults of working age all
over the world do not even have access to "traditional" financial services provided
by banking and non-banking financial institutions, including online banking. The
task of any state is to eliminate discrimination and make banking and payment
services available to the public.
Source: [1].
It should be noted that the banking sector was one of the very first to use
information and computer technologies, which was due to the high content of the
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