Fintech accelerators as the institutions of fintech ecosystem

Fintech accelerator is a new infrastructure institution of the fintech ecosystem which is developing rapidly on the Russian market. Fintech accelerators, being specialized accelerators, actively win the venture market strengthening their presence, which is caused by the fintech innovation boom. In these circumstances, it is relevant to consider the key market functions of fintech accelerators, the support provided by the fintech accelerators as well as the development trends of the fintech industry as a whole. The author identifies six basic functions of fintech accelerators: organizational, financial and economic, consulting, training, commercial and evolutionary ones. Other functions of fintech accelerators are mentioned as well. In addition, the research identifies the main areas of start-ups support: consumer banking services, money transfers and payments, investment management.