THE DIGITALIZATION OF THE FINANCIAL SECTOR – CHALLENGES AND PROSPECTS

Biser Krastev

Abstract


The scientific research presents the nature and stages of digitalization of the financial sector of the economy. The models and variants of corporate cooperation between commercial banks and fintech companies are described. The business functions performed by financial companies are systematized. The technological concepts and solutions that underlie digital finance are characterized, and an overview of the institutions providing digital financial services is made. The prospects in the development of financial institutions in the conditions of accelerating digitalization of their activity are analyzed in detail.


Keywords


digitization, digitalization, financial sector, commercial banks, fintech companies

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References


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