Features of the financial services market and consumer behavior on it in the context of digital transformation

The digital transformation of modern economic life has actually «opened the door» for the penetration of breakthrough innovative technologies in many areas, and, above all, in the financial services market. Breakthrough innovations such as artificial intelligence, robotics, blockchain technologies, the Internet of Things, Big Data, cryptocurrency, etc., having become commonplace today, «provoked» the destruction of traditional systems in the financial services market and the formation of ecosystems, more and more, «Blurring» the boundaries of the specified market and financial activities, in particular. As a result, a symbiotic model is replacing the traditional bank–based model and market–based model; conditions were created for the emergence of a non–bank financial intermediation model.
The key competitive advantage of modern companies is the use of innovative technologies for remote access and personalization of services.
Today we can talk about the massive nature of the introduction of financial technologies in all segments of the modern market, which, of course, could not but affect consumer behavior. Particularly interesting for companies in the financial services sector are the behavioral features of modern young people as the most valuable target audience, as a segment that in the near future may become a «core of loyalty».
The subject of the research in this article is the features of the modern financial services market, which is transforming under the pressure of digital «expansion» of breakthrough innovative technologies, and the behavior of modern student youth on it as a bright representative of the generation of centennials (buzzers). The object of the research is financial technologies and their perception by student youth who do not have special financial education. It is this target audience that is most significant for assessing the impact of fintech on behavioral models.

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