UDC: 336.71
https://doi.org/10.25198/2077-7175-2019-6-49
ESSENTIAL APPROACH TO STUDY THE ROLE OF BANKS AND FINTECH COMPANIES IN FINANCIAL INTERMEDIARY
T.N. Zverkova
Orenburg State University, Orenburg, Russia
e-mail: tnzverkova@mail.ru
Abstract. The relevance of the research topic is due to the fact that a significant number of researchers consider the relationship between banks and fintech companies through the prism of confrontation and the "future" victory of fintech companies over banks. However, as practice shows, digitalization has caused a deep transformation of the banks themselves. Banks have not only been able to adapt to the new realities of the market, but also continue to be the basis of the financial market. To speak about the displacement of traditional financial intermediaries by fintech companies, in our opinion, is premature due to the difference in the tasks they solve. The issues of searching for promising areas of cooperation between banks and fintech companies cause and require additional research.
The purpose of the article is to identify approaches to determining the nature of banks and fintech companies, to determine their role in financial intermediation and to identify ways of interaction.
The main method of research of this question is the method of the essential approach allowing t find such sets of properties of objects of research without which they are not capable to exist and which define all their other properties.
The result of the study. We offer fintech companies innovation and products include direct mediation. In fact, fintech companies based on innovations are a manifestation of the process of Informatization of the financial sector. Fintech companies do not participate in the redistribution of resources and do not take risks which does not allow them to perform the functions of banks and create competition for them. All statements that the role of banks as traditional intermediaries fades into the background are not justified. A more promising area is the study of the essence of banks in the conditions of new technologies of digitalization.
Summary. Assessing the prospects of interaction of financial intermediaries, it is important to proceed from their essence. Banks and fintech companies operate in different areas of financial intermediation. In modern conditions, research is needed to find new forms of interaction between financial intermediaries, given that fintech is essentially just a new technology of money transfer, which does not change the essence of financial intermediation, but only accelerates it.
Keywords: essential approach, fintech company, Bank, financial intermediation.
