FINTECH AND FINANCIAL MARKET RISKS

Abstract

This article is devoted to the study of the essence of financial technologies (Fintech) and risks in the Russian financial market. The purpose of the study is to understand the impact of Fintech development on the financial sector and identify the risks associated with this process. The Fintech study includes an analysis of the following aspects, which should include: the impact of FINTECH on traditional financial institutions, innovative institutions related to the introduction of innovative technologies; analysis of risks associated with the absence or insufficiency of regulatory control in the field of Fintech, cybersecurity; study of the advantages and disadvantages of Fintech in the context of financial inclusion, especially for clients with limited access to financial services. This article covers both economic (digital economy, finance, investment and financial technology) so are the technological foundations (cybersecurity, cyber attacks, DDoS attacks, Lot attacks, phishing attacks, pharming attacks, the financial market and its participants). General scientific methods (comparison, analysis, synthesis and methods of logical judgment) were used in the course of the study. The reliability of scientific research is ensured by the rigor of the presentation of the material and the use of materials from official sources of the Commission for Investigations, Expertise and Control of the Activities of Professional Communities in the Financial Sector and Fintech JSC.