Technological Innovations in Financial Services: Risks and Opportunities for Banks and Banking Systems

Annotation The final qualifying work on the topic "Technological innovation in financial services: risks and opportunities for banks and banking systems" contains 60 pages of text, drawings - 3, tables - 3, used sources - 24. Key words: Fintech or FinTech, startup, bitcoin, block, P2P, cloud service, operational risk. The object of the study is the leading banks of the Nizhny Novgorod region. The subject of the research is financial technologies, their innovations, application and risks for banks and banking systems. The purpose of the study is to develop recommendations for improving the use of financial technologies in leading banks in the Nizhny Novgorod region aimed at reducing banking risks and increasing competitiveness in the banking services market. The paper offers a number of recommendations on the use of modern financial technologies in the banking sector with a view to reducing risks. The analysis of the leading banks of the Nizhny Novgorod region was conducted and the issues of the development of financial technologies were studied. The scientific significance of the research consists in the development of theoretical and methodological knowledge about the market of financial technologies of the 21st century. Practical significance: the conclusions and forecasts concerning the application of financial technologies made in the work can be used by commercial banks of the Russian Federation.