Influence of financial technologies in the development of banking sector in Russian Federation

In the conditions of digitalization of financial sector of the Russian Federation the implementation of financial technologies becomes a crucial decision. Financial technologies have already become an important component for all types of financial services: lending, payments and transfers, investment, insurance, and others. Within the framework of the study, the impact of the introduction of financial technologies on the efficiency and development of the banking sector was determined. The development and implementation of financial technologies changes the traditional methods of providing financial services in commercial banks, increasing accessibility and quality.