DIGITAL FINANCIAL SERVICES: A TYPOLOGY AND THEIR ROLE IN THE MODERN ECONOMIC LANDSCAPE

Abstract

This article investigates the nature, types, and role of digital financial services in the modern economy. It examines key development areas within the fintech sector, including digital banks, payment systems, investment platforms, cryptocurrency solutions, and crowdfunding. Particular attention is paid to the advantages of digital financial services, such as convenience, accessibility, security, and the reduction of transaction costs. The analysis also addresses associated challenges, including the digital divide, cyber threats, and a lack of trust in fintech structures. The article emphasizes the importance of government policy and regulation, encompassing the creation of "regulatory sandboxes" and the development of public digital literacy. The future prospects of digital finance are linked to the integration of artificial intelligence, blockchain technology, and the Open Banking concept.