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
