Impact of Financial Technologies on the Banking Sector

Abstract

The study was made to find out the impact of new financial technologies on the banking sector. The study examined Russian and foreign documents and opinions of authoritative experts in order to identify the risks that financial technologies bear for banks. Financial technologies are developing at a rapid pace and market participants need to adapt to them, so identification of risks that accompany them is an urgent problem for the banking sector and the economy as a whole. Keywords: financial technologies (finteh), risks, banking sector