IMPACT OF FINTECH AND OPEN BANKING ON THE FINANCIAL MARKET: FINANCIAL AND LEGAL ASPECT

Savkina Valeria Andreevna

The purpose of the research in the article is to analyze the regulation of the financial market in the context of the introduction of financial technologies and open banking in the financial market. In the article, the author points out the changes that the financial market is undergoing in the context of the digital transformation of the economy and the active development of financial technologies (hereinafter referred to as Fintech) and the introduction of open banking. The author concludes that innovations affect all aspects of the financial market, including its structure, participants, instruments and regulation. The author formulates individual aspects of the influence of Fintech and open banking on the financial market from the point of view of financial law, and also provides ways to eliminate the negative consequences of such influence.

Keywords:financial market, Fintech, open banking, digitalization