12.09.2022 International Scientific Journal "Science and Innovation". Series A. Volume 1 Issue 5
Abstract. Due to the growing consumer demand for online services, development of new financial and digital platforms is becoming a requirement of the time. Nevertheless, a number of problems restrain the development of the Internet services market. The proliferation of technology, aggressive marketing, and other consumer risks such as debt collection practices, data breaches, and poor dispute resolution have exacerbated the problems in the financial ecosystem. This study identified electronic financial systems, their advantages and features, as well as regional problems. This study considers the global financial services market as an object of the study, discusses its concepts and characteristics, and analyzes the state of development of Internet finance in the context of the economy as a whole.
Keywords: digital finance, electronic payment, financial inclusion, online insurance, phishing, cyber-attacks, multi-factor authentication.
SCIENCE & INNOVATION