Digital financial market architecture
https://doi.org/10.34020/1993-4386-2023-3-67-74
Abstract
The Russian Federation is one of the world leaders in financial technologies used in various segments of the financial market. The digitalization of the payment system, the development of digital banking and other fintech solutions are fundamentally transforming the architecture of the financial market. Undoubtedly, the digital financial market is being formed on the basis of the existing and proven architecture for decades. However, the changes associated with digitalization will naturally lead to its progressive transformation.
The digitalization of the financial market will allow uniting its separately existing parts into a single organizational structure, forming a single centralized digital market. The formation of a single digital space will make it possible to erase the boundaries between financial market segments.
The research methodology is based on general scientific dialectical methods (analysis and synthesis, deduction and induction). The purpose of the article is to acquaint the reader with the natural transformations of the financial market, which radically change its architecture and lead to the formation of a single digital financial market.
About the Authors
S. V. Frumina
Financial University under the Government of the Russian Federation; Plekhanov Russian University of Economics
Russian Federation
Russian Federation
Svetlana V. Frumina – PhD in Economics, Department of Public Finance, Faculty of Finance; Department of Global Financial Markets and Fintech
Moscow
V. A. Galanov
Plekhanov Russian University of Economics
Russian Federation
Russian Federation
Vladimir A. Galanov – Doctor of Economics, Professor, Department of Global Financial Markets and Fintech
Moscow
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For citations:
Frumina S.V., Galanov V.A. Digital financial market architecture. Siberian Financial School. 2023;(3):67-74. (In Russ.) https://doi.org/10.34020/1993-4386-2023-3-67-74
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