Neobanks as innovative developers of financial technologies in the financial services market

Abstract

Digitalisation and enhancement of artificial intelligence have an impact on various areas of management, including financial market, contributing to the emergence and development of a new type of institution – neobanks, which become full-fledged competitors to classical credit organisations. The topic of this research is the study of neobanks as innovative producers of financial technologies in the financial services market. The purpose is to study neobanks as innovative developers of financial technologies in this market. The object are neobanks. The subject is a set of tools and methods that neobanks use in their activities. As a methodology, it is necessary to highlight the analysis of internet resources corresponding to the topic of the study, synthesis and generalisation of the data obtained. The main results include conducting a detailed analysis of theoretical and methodological foundations for determination of neobanks, highlighting their types, advantages and disadvantages, and identifying areas for further development and increase of the fficiency of functioning. The main conclusions of the study are clarification of the onceptual framework, consideration of the specifics of the activities of modern non-banks, their specifics, advantages and disadvantages compared with traditional banks, provision of a generalised analysis of programmes and services offered by neobanks, and designation of recommendations for improving the efficiency of their functioning.