Platforms for the development of the financial market in the digital economy

Abstract

Significant changes taking place in the economic life of the state and society are associated with the active and widespread development and spread of the digital economy. The Internet, personal computers, smartphones, mobile communications, artificial intelligence, robotics and much more have become an integral part of the life of our society. The digital economy development has a significant impact both on the economy as a whole and on its individual segments: the engineering and technology development is accelerating, the boundaries between various fields of activity are blurring and significant changes in the activities of enterprises and workers are taking place. Thanks to digitalization, it became possible to identify various risks which are associated with activities and which can have a negative impact on the development of the entire financial market.
One of the markets actively involved in the development of digital technologies is the financial market, which is a combination of the credit, investment, insurance, and stock sectors. In fact, the financial market is a significant indicator of the state of the entire Russian economy. In connection with the above, it is not accidental in the strategy of the Bank of Russia that it strives to develop platforms for the “digitalization” of the financial market. The development of platforms is necessary to create a competitive and trusting environment in the financial market, to maintain its stable financial condition, as well as to ensure the capital and financial services availability. In addition, the development of such platforms provides significant economic and financial benefits for various participants in the financial market, which will positively affect the entire economy development.