The Main Challenges of Eu Financial Market Transformation in the Digital Age

Halyna Matviienko

doi:doi:10.11648/j.jwer.20221101.16

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The Main Challenges of Eu Financial Market Transformation in the Digital Age

Halyna Matviienko

Published in Journal of World Economic Research (Volume 11, Issue 1)

Received: 7 April 2022 Accepted: 9 May 2022 Published: 19 May 2022

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Abstract

The main challenges of financial market development in terms of digitization are considered. Digitization has a significant impact on the development of financial markets. In today's digital age, the financial sector faces many challenges that need to be addressed by international financial institutions. The current state of the EU financial market requires finding new solutions needed to develop in the digital age. Risks in the financial market tend to increase, especially in the context of the digitization of the economy. The persistent risks of variations in economic growth are exacerbated by the need to improve the balance of payments of euro area countries with high debt and the banking sector, driven by its low profitability. The features of development and regulation of the European financial market have been analysed. The main challenges that need to be addressed in today's context of digitization and the risks involved in developing financial markets are increasing cybercrime in the financial sector; compliance with financial market regulations; use of BigData in the financial market; use of artificial intelligence in the financial market; use of Fintech in the financial services market; customer retention in the consumption of financial services; retention of providers as producers of financial services; blockchain integration in the financial market; experience and expectations of clients in the financial market; crossing the digital divide in the marketing of financial services; and impact on the financial market of global climate change. Proposals have been developed to mitigate the effects of financial risks in the information age. Anticipating and considering the potential challenges of financial market development and understanding its changing trends in regulatory policy development makes it possible to ensure sustainable development.

Published in	Journal of World Economic Research (Volume 11, Issue 1)
DOI	10.11648/j.jwer.20221101.16
Page(s)	55-63
Creative Commons	This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited.
Copyright	Copyright © The Author(s), 2024. Published by Science Publishing Group

Keywords

European Financial Market, Digitization, Digital Literacy, Risks, Cybercrime, Blockchain Technology, Financial Stability, Regulation of the Financial Market

References

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Halyna Matviienko. (2022). The Main Challenges of Eu Financial Market Transformation in the Digital Age. Journal of World Economic Research, 11(1), 55-63. https://doi.org/10.11648/j.jwer.20221101.16

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ACS Style

Halyna Matviienko. The Main Challenges of Eu Financial Market Transformation in the Digital Age. J. World Econ. Res. 2022, 11(1), 55-63. doi: 10.11648/j.jwer.20221101.16

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Halyna Matviienko. The Main Challenges of Eu Financial Market Transformation in the Digital Age. J World Econ Res. 2022;11(1):55-63. doi: 10.11648/j.jwer.20221101.16

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@article{10.11648/j.jwer.20221101.16,
  author = {Halyna Matviienko},
  title = {The Main Challenges of Eu Financial Market Transformation in the Digital Age},
  journal = {Journal of World Economic Research},
  volume = {11},
  number = {1},
  pages = {55-63},
  doi = {10.11648/j.jwer.20221101.16},
  url = {https://doi.org/10.11648/j.jwer.20221101.16},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.jwer.20221101.16},
  abstract = {The main challenges of financial market development in terms of digitization are considered. Digitization has a significant impact on the development of financial markets. In today's digital age, the financial sector faces many challenges that need to be addressed by international financial institutions. The current state of the EU financial market requires finding new solutions needed to develop in the digital age. Risks in the financial market tend to increase, especially in the context of the digitization of the economy. The persistent risks of variations in economic growth are exacerbated by the need to improve the balance of payments of euro area countries with high debt and the banking sector, driven by its low profitability. The features of development and regulation of the European financial market have been analysed. The main challenges that need to be addressed in today's context of digitization and the risks involved in developing financial markets are increasing cybercrime in the financial sector; compliance with financial market regulations; use of BigData in the financial market; use of artificial intelligence in the financial market; use of Fintech in the financial services market; customer retention in the consumption of financial services; retention of providers as producers of financial services; blockchain integration in the financial market; experience and expectations of clients in the financial market; crossing the digital divide in the marketing of financial services; and impact on the financial market of global climate change. Proposals have been developed to mitigate the effects of financial risks in the information age. Anticipating and considering the potential challenges of financial market development and understanding its changing trends in regulatory policy development makes it possible to ensure sustainable development.},
 year = {2022}
}

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TY  - JOUR
T1  - The Main Challenges of Eu Financial Market Transformation in the Digital Age
AU  - Halyna Matviienko
Y1  - 2022/05/19
PY  - 2022
N1  - https://doi.org/10.11648/j.jwer.20221101.16
DO  - 10.11648/j.jwer.20221101.16
T2  - Journal of World Economic Research
JF  - Journal of World Economic Research
JO  - Journal of World Economic Research
SP  - 55
EP  - 63
PB  - Science Publishing Group
SN  - 2328-7748
UR  - https://doi.org/10.11648/j.jwer.20221101.16
AB  - The main challenges of financial market development in terms of digitization are considered. Digitization has a significant impact on the development of financial markets. In today's digital age, the financial sector faces many challenges that need to be addressed by international financial institutions. The current state of the EU financial market requires finding new solutions needed to develop in the digital age. Risks in the financial market tend to increase, especially in the context of the digitization of the economy. The persistent risks of variations in economic growth are exacerbated by the need to improve the balance of payments of euro area countries with high debt and the banking sector, driven by its low profitability. The features of development and regulation of the European financial market have been analysed. The main challenges that need to be addressed in today's context of digitization and the risks involved in developing financial markets are increasing cybercrime in the financial sector; compliance with financial market regulations; use of BigData in the financial market; use of artificial intelligence in the financial market; use of Fintech in the financial services market; customer retention in the consumption of financial services; retention of providers as producers of financial services; blockchain integration in the financial market; experience and expectations of clients in the financial market; crossing the digital divide in the marketing of financial services; and impact on the financial market of global climate change. Proposals have been developed to mitigate the effects of financial risks in the information age. Anticipating and considering the potential challenges of financial market development and understanding its changing trends in regulatory policy development makes it possible to ensure sustainable development.
VL  - 11
IS  - 1
ER  -

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Author Information

Halyna Matviienko

Finance and Accounting Department, V. I. Vernadsky Taurida National University, Kyiv, Ukraine

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Plain Text BibTeX RIS

APA Style

Halyna Matviienko. (2022). The Main Challenges of Eu Financial Market Transformation in the Digital Age. Journal of World Economic Research, 11(1), 55-63. https://doi.org/10.11648/j.jwer.20221101.16

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ACS Style

Halyna Matviienko. The Main Challenges of Eu Financial Market Transformation in the Digital Age. J. World Econ. Res. 2022, 11(1), 55-63. doi: 10.11648/j.jwer.20221101.16

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AMA Style

Halyna Matviienko. The Main Challenges of Eu Financial Market Transformation in the Digital Age. J World Econ Res. 2022;11(1):55-63. doi: 10.11648/j.jwer.20221101.16

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@article{10.11648/j.jwer.20221101.16,
  author = {Halyna Matviienko},
  title = {The Main Challenges of Eu Financial Market Transformation in the Digital Age},
  journal = {Journal of World Economic Research},
  volume = {11},
  number = {1},
  pages = {55-63},
  doi = {10.11648/j.jwer.20221101.16},
  url = {https://doi.org/10.11648/j.jwer.20221101.16},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.jwer.20221101.16},
  abstract = {The main challenges of financial market development in terms of digitization are considered. Digitization has a significant impact on the development of financial markets. In today's digital age, the financial sector faces many challenges that need to be addressed by international financial institutions. The current state of the EU financial market requires finding new solutions needed to develop in the digital age. Risks in the financial market tend to increase, especially in the context of the digitization of the economy. The persistent risks of variations in economic growth are exacerbated by the need to improve the balance of payments of euro area countries with high debt and the banking sector, driven by its low profitability. The features of development and regulation of the European financial market have been analysed. The main challenges that need to be addressed in today's context of digitization and the risks involved in developing financial markets are increasing cybercrime in the financial sector; compliance with financial market regulations; use of BigData in the financial market; use of artificial intelligence in the financial market; use of Fintech in the financial services market; customer retention in the consumption of financial services; retention of providers as producers of financial services; blockchain integration in the financial market; experience and expectations of clients in the financial market; crossing the digital divide in the marketing of financial services; and impact on the financial market of global climate change. Proposals have been developed to mitigate the effects of financial risks in the information age. Anticipating and considering the potential challenges of financial market development and understanding its changing trends in regulatory policy development makes it possible to ensure sustainable development.},
 year = {2022}
}

Copy | Download

TY  - JOUR
T1  - The Main Challenges of Eu Financial Market Transformation in the Digital Age
AU  - Halyna Matviienko
Y1  - 2022/05/19
PY  - 2022
N1  - https://doi.org/10.11648/j.jwer.20221101.16
DO  - 10.11648/j.jwer.20221101.16
T2  - Journal of World Economic Research
JF  - Journal of World Economic Research
JO  - Journal of World Economic Research
SP  - 55
EP  - 63
PB  - Science Publishing Group
SN  - 2328-7748
UR  - https://doi.org/10.11648/j.jwer.20221101.16
AB  - The main challenges of financial market development in terms of digitization are considered. Digitization has a significant impact on the development of financial markets. In today's digital age, the financial sector faces many challenges that need to be addressed by international financial institutions. The current state of the EU financial market requires finding new solutions needed to develop in the digital age. Risks in the financial market tend to increase, especially in the context of the digitization of the economy. The persistent risks of variations in economic growth are exacerbated by the need to improve the balance of payments of euro area countries with high debt and the banking sector, driven by its low profitability. The features of development and regulation of the European financial market have been analysed. The main challenges that need to be addressed in today's context of digitization and the risks involved in developing financial markets are increasing cybercrime in the financial sector; compliance with financial market regulations; use of BigData in the financial market; use of artificial intelligence in the financial market; use of Fintech in the financial services market; customer retention in the consumption of financial services; retention of providers as producers of financial services; blockchain integration in the financial market; experience and expectations of clients in the financial market; crossing the digital divide in the marketing of financial services; and impact on the financial market of global climate change. Proposals have been developed to mitigate the effects of financial risks in the information age. Anticipating and considering the potential challenges of financial market development and understanding its changing trends in regulatory policy development makes it possible to ensure sustainable development.
VL  - 11
IS  - 1
ER  -

Copy | Download