FINANCIAL TECHNOLOGIES AS A COMPONENT OF THE DIGITAL ECONOMY: TRENDS IN THE REALITIES OF COVID19-PANDEMIC

 A key factor for the growth of digitalization of the financial technology market is large investments in technology-based solutions. Moreover, infrastructure-based financial technologies are shaping the future of financial services in particular and the digital economy in general, thus contributing to the growth of the global financial technology market. In addition, financial technology companies are supplying personalized products at low cost in light of new developments in the technology sector caused by the COVID19 pandemic, which is driving consumer expectations, thereby stimulating global growth in the digital economy and, consequently, the rapid development of some segments of financial technologies, and the rapid decline of other segments.

Purpose. The article is devoted to the review of the main trends of financial technologies in the crisis of the economy, which takes place during the global pandemic COVID-19, and the search for patterns of financial technology in similar periods by sectors of FinTech as part of the digital economy.

Methods Macroeconomic Analyses, Econometric Analyses, Trend Analyses

Results. The main sectors of FinTech for the period before the pandemic and during the pandemic COVID-19 are analyzed, the peculiarities of FinTech firm's development depending on the level of economic development of a certain country, its geographical location, and segment of FinTech are revealed, and an integrated indicator of FinTech LFTA) to assess for a period of time all development opportunities for FinTech segments in times of crisis, such as the COVID-19 pandemic.

Conclusion. Illustrated trends in the FinTech market during the pre-pandemic period and during the global pandemic period are demonstrated. It is proved that in times of crisis FinTech generally develops rapidly, but at the same time, the structure and types of FinTech services by sectors change qualitatively. Methodological bases of integrated assessment of FinTech's level of adaptation to crisis phenomena in the economy by a generalization of weighted sums of indicators of investment activity of FinTech sectors, as well as the degree of use of information technologies in FinTech have been developed. Norway, Sweden, Finland, Denmark, and the Netherlands are in the economy; Ukraine belongs to the group of countries with a critically low level of FinTech's adaptation to economic crises, along with Bulgaria, Romania, and Greece; In recent years, the level of FinTech's adaptation to the crisis in Ukraine's economy has been growing. The low values of the FinTech adaptation index to economic crises in the context of the COVID-19 pandemic are due to the very low level of financial inclusion and use of digital financial services.

Keywords: financial technologies, FinTech, FinTech segments, digital economy, FinTech development trends, an integrated indicator of FinTech level of adaptation to economic crisis (LFTA)

Сунцова О.О. Фінансові технології як складова цифрової економіки: тенденції в реаліях пандемії COVID-19. Економічний вісник. Серія: фінанси, облік, оподаткування. Випуск 7. 2021. С.161-175. DOI 10.33244/2617-5932.7.2021.161-175  http://ojs.nusta.edu.ua/index.php/ojs1/article/view/593