DIGITAL FINANCIAL SERVICES IN A DIGITAL ECONOMY: TRENDS, CHALLENGES AND PROSPECTS

The article is devoted to a comprehensive study of the development of digital financial services, their segmentation, features and dynamics in the context of the digital transformation of the economy. The paper examines the key stages of the development of digital financial services, from the appearance of the first electronic payment instruments and online banking to modern multifunctional fintech ecosystems, including digital wallets, mobile banking applications, cryptocurrency platforms and investment services. Special attention is paid to defining the concept of «digital financial services», analyzing existing interpretations and identifying their key characteristics, such as accessibility, automation, personalization and integration of innovative technologies. Various approaches to the definition of digital financial services are considered, including technological, economic, and regulatory ones. The article provides a detailed segmentation of the digital financial services market, taking into account the structure of its key areas: digital payments, online lending, insurance, investment platforms, cryptocurrency assets and ecosystem financial solutions. The current distribution of the cryptocurrency market in Russia by type of platform is analyzed, trends in the development of centralized (CEX) and decentralized (DEX) crypto exchanges are considered, as well as the role of digital assets in the country’s financial system. One of the significant aspects of the study is the analysis of the growth in the number of mobile banking users in Russia, which demonstrates a change in consumer preferences in favor of digital channels of interaction with financial institutions. The dynamics of investment growth in the fintech sector is also considered, reflecting the increased interest of investors in digital financial solutions. The research results allow us to assess the current state and prospects of digital financial services in Russia, identify the main directions for their further development, and identify potential risks associated with the digitalization of the financial sector.