COMPOSITION AND STRUCTURE OF FINTECH LANDSCAPE AS A SPACE FOR DIGITAL FINANCIAL SERVICES PROVISION

Abstract

The article deals with the author's approach and structural-logical scheme of the fintech landscape as a space in the system of economic relations where fintech companies provide digital financial services within different directions of fintech (digital payment services, digital banking, digital lending, crowdfunding, digital insurance, digital capital management), as well as representatives of fintech, which form fintech infrastructure. The paper also emphasises that fintech infrastructure helps to improve the quality and ensures confidence in digital financial services. It is determined that the success of the fintech landscape in the country is ensured by the effectiveness of interaction between fintech companies providing digital financial services and fintech infrastructure representatives in the form of innovative use of so-called enabling digital technologies. These include Blockchain, Artificial Intelligence, Robotics, Virtual and Augmented Reality, Big Data and Cloud Storage, the Internet of Things and Biometrics, and API. Besides, the paper presents the characteristics of fintech in the field of digital financial services, subtypes of fintech in different sectors of the financial services market and examples of companies engaged in the provision of digital financial services. The infrastructure of the fintech market is analysed in detail. It is determined that fintech infrastructure is provided by two groups of companies: those that promote the quality of digital financial services and those that promote trust. The first group includes fintech companies that provide fintech support (TechSup), digital financial planning and analytics services. The trust sector in digital financial services is represented by fintech companies engaged in digital security services, fintech regulation (RegTech) and fintech supervision (SupTech).